florida home insurance

Gov. Scott announces awareness

Saturday, December 8, 2012

 

Florida’s Governor, Mr. Rick Scott, alongside many other lawmakers in Tallahassee Florida this week, have announced they are going to implement better programs to make sure residents of Florida are better prepared to understand many of the costs linked with homeowners insurance.  They really want to educate the public to understand that Florida might be one large “Sandy” like storm away from a major home insurance catastrophe.

Scott was quoted saying that solid efforts should ensure that Florida home insurance policyholders are better aware that the state is doing everything possible to help strengthen the house market industry in the Sunshine state.

He pointed out that these educational programs will probably cause higher assessments across the spectrum when the state-backed insurers are not really capable of producing and meeting its claims payments requirements in the future.

The survey conducted offered that more than 80 percent of homeowners insurance customers in Florida have no clue that possible assessments are lingering in the near future. 

These consumers don’t completely understand that if the Florida Hurricane Catastrophe Fund and Citizens Property Insurance Corp. find themselves unable with to pay claims after a major storm hits either Florida coast, that it will be the policyholders that are charged large assessments.

We all know the struggles many insurance companies have had over the years in Florida.  There is a great deal of controversy over making the proper changes necessary to Citzens and private insurers.  This all being connected to the ability to offer affordable homeowners insurance to a state where 80 percent or more of the residents live within hurricane prone areas.  What should we do to fix this problem?

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FL Regulators Holding Hearing On Home Rates

Tuesday, September 25, 2012

Orlando, Florida - There are many Florida citizens that are coming together in opposition of the most recent proposed rate increases offered by Florida's biggest homeowners insurance company. A public hearing was held in Miami, Fl by regulators trying to appease lawmakers and consumers of the Sunshine state. 

A New Port Richey, Florida Republican, Senator Mike Fasano, critiqued Citizens Property Insurance Corp for the recent increase in premiums.  He believes that Citizens raised premiums without going through the proper rate approval process.  Additionally, he cited the re-inspection program that has revoked discounts to many Floridians for strengthening their houses against natural disaster. 

Senator Fasano also complained about the out of line spending that Citizens officials were engaged in, including, expensive trips, hotel rooms and meals. 

"Citizens has filed a premium rate increase that, given they myriad negative circumstances surrounding this insurance company, is not warranted and, frankly, is the epitome of arrogance," Fasano said.

The CEO of Citizens, Barry Gilway, said that company officials always follow state law when they propose increases.  They are just trying to put the company on track to make sure they have enough money to pay for future disastrous claims. 

"We're not the enemy, "Gilway said.  "We're hired by and work for taxpayers and it's our obligation to do our very, very best to keep rates as affordable as possible."

We at PremierHomeownersInsurance.com would like to get any feedback available Floridians.  Please give us your thoughts on Citizens and how we can improve the homeowners insurance policies offered in our beautiful state.  Comment here today!

 

 

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