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?