According to a recent survey by the FAIR Foundation, the majority of Floridians are still not prepared for the 2018 hurricane season. The survey found that while over three-quarters of Floridians expressed concern about potential hurricanes this season only half have reviewed their homeowner insurance policies to make sure they are properly protected. The survey […]
Hurricane season is here and if you don’t have a flood insurance policy in place, you may want to consider one. Flood damage is not covered by a standard homeowners policy and the majority of hurricanes bring severe flood damage with them when they come ashore. In the past, the majority of flood insurance policies […]
Florida’s Citizens Property Insurance Corp is waiting until December to set its 2019 insurance rates and decide whether it will approve a 7.9 percent statewide increase for homeowners insurance. It was decided to postpone the increase at a recent Board of Governors meeting. Florida Citizens decided to defer the decision to allow time to review […]
According to data from the Insurance Information Institute (III), 16 insurers went bankrupt after Hurricane Andrew hit Florida in 1992 as claims overwhelmed smaller insurance companies. Since then, the Florida Insurance Guaranty Association has backed Florida insurers, but if your insurance company goes under it can lead to major delays in the claim process. A […]
A recent report from The Information, a technology centered website, found that Amazon may be getting into the home insurance market. While it seems like a long-shot and the report concluded that Amazon currently has no plans to start offering homeowners insurance, the mere prospect of the e-commence giant joining the industry sent the stocks […]
As the National Weather Service kicks off Hurricane Preparedness Week (May 6–12), a new study found that over half of homeowners in Florida fail to take the recommended precautions to protect their homes against hurricane damage. The survey asked Sunshine State residents how they prepare their home for hurricane season. Unfortunately, less than one in […]
Gavop, a real estate, housing news, and research service recently examined the latest information being released from the Florida Office of Insurance Regulation and found that insurers across the state (but especially in the Miami-Dade area) are charging drastically different premiums for homes that fall into the same value range and location. In the Miami-Dade […]
The state-run Citizens Property Insurance Corp, who deals mainly with hard to insure properties across the state of Florida came a bit closer to finally capping repair costs for non-weather related water damage for customers who refuse to use their preferred contractors. The Board of Governors recently approved a plan that will put a $10,000 […]
The legal dispute between the N.C. Rate Bureau (NCRB), which represents insurance companies in North Carolina, and the N.C. insurance department has come to an end with a statewide average increase for homeowners insurance coming in at 4.8 percent. This is significantly lower than the 18.7 percent that was originally floated back in November. The […]
The housing market is on fire these days and in many cities and towns you may find yourself in a bidding war for the house you want. Listings are at some of the lowest rates ever seen and growing demand has led to both quickly rising home prices as well as multiple offers coming in […]