Property owners in Florida are well aware of the natural hazards of hurricanes, floods and high winds. Storms that bring these disasters are especially dangerous because they often come with little warning. However, another concerning risk for landowners can come with no forecast at all. What is this unseen threat to property owners?
Finally, a Bill of Rights for Homeowners in Florida
When you pay thousands of dollars a year in homeowner's insurance premiums, you are right to expect that if a fire, storm damage, water damage or other catastrophe or loss occurs, your insurer will honor the terms of your policy. Unfortunately, for thousands of Florida residents, this is not the always the case.
Florida Senate Legislation Encourages Private Market Flood Insurance
The Florida Senate recently passed a bill that would encourage private insurers to offer flood insurance, possibly providing thousands of homeowners with relief from the federal government's National Flood Insurance Program premiums. The bill's sponsor, Sen. Jeff Brandes, R- St. Petersburg, said "It is time for Floridians to control our own destiny and lead the nation with a free-market flood insurance program," as quoted in the Palm Beach Post.
Florida-Based Insurer Cancels Thousands of Home Policies
Florida-Based Insurer People's Trust Insurance Cancels Thousands of Home Policies as Hurricane Season Approaches
Federal Government Calls for Decreased Flood Insurance Premiums
In mid-March, the federal government passed a bill repealing a provision it made just two years ago that established huge flood insurance premium increases for Florida property owners with homes on or near the coast. The 2012 provision, which called for sweeping changes to the federal flood insurance program, is all but canceled out by the new revisions.
Recent Florida Appeals Case Means More Challenges for Victims of Sinkhole Damage
Home and commercial property owners in Florida have faced an unfriendly legal environment when confronted with sinkhole damage. Dealing with an insurance company is rarely simple, and this truth was exacerbated by state laws requiring property owners to demonstrate "structural damage" in order to have a compensable insurance claim. In March of this year, the court system dealt policyholders an additional blow.