Florida residents may see their homeowners insurance rates go down in the near future as the Governor recently signed an assignment of benefits (AOB) reform into law. This was one of the most heavily lobbied bills in the 2019 session, but it managed to survive and be signed into law. An AOB is when a […]
Finally, some good news for Florida homeowners when it comes to the cost to insure their homes. Sunshine State residents have seen their insurance premiums go up dramatically over the last decade. In fact, according to Insurance.com, Florida has the most expensive homeowners insurance premiums in the country with an average premium of $3,575. If […]
Miami-Dade State Attorney Katherine Fernandez Rundle has brought charges against nine people who allegedly organized a homeowners insurance scam. The yearlong investigation found numerous false and exacerbated water damage claims that cost insurance companies over $600,000. The arrests were made after a yearlong investigation named “Operation Rubicon.” The investigation included fraud detectives with the Florida […]
If your homeowners insurance premium has been on an upward trajectory for the last few years, you are not alone. A recent study discovered that homeowners insurance rates have gone up in every state over the last decade and in the midwest the rate increases have been pretty dramatic. The reason for these rate increases […]
When it comes to homeowner costs, most of us are aware we have to cover the mortgage, property taxes and homeowners insurance as well as regular maintenance costs. However, there is another expense lurking in your home and if you are not prepared it can be a financial disaster. We are talking about surprise emergency […]
The Florida House passed an assignment of benefits reform bill on Thursday despite objections from contractors and the Restoration Association of Florida. The bill passed on a 96-20 vote on hopes that the changes will help keep insurance prices steady or even make them more affordable. However, the House and Senate have not been able […]
Texas homeowners may have a new option when it comes to flood insurance. While flood coverage is always excluded from a standard homeowners policy, the Woodlands Insurance Co. which is located in Woodlands, Texas is offering a Texas homeowners policy that includes flood insurance coverage to all households that qualify. The coverage can vary depending […]
A recently added amendment to the Florida State House assignment of benefits (AOB) reform bill would prevent Citizens Property Insurance Corp. from raising rates unless they pass the savings from AOB reform along to their customers. “We are consistently told that AOB reform is necessary and will halt skyrocketing insurance costs in some areas and […]
While the assignment of benefits (AOB) form is a pretty standard practice in the United States insurance industry, rampant fraud in Florida has led to a shocking increase in the number of AOB filings over the past decade. An AOB contract signs over your insurance benefits to a third party such as a contractor or […]
This winter has been tough for many cities and states. Artic weather has led to record cold and snowfall in many places. Now that spring is on the way and the snow is starting to melt, the runoff could lead to flooding in many locations. If you are not protected by flood insurance, the cost […]