Florida homeowners are reeling from the devastating impacts of back-to-back hurricanes Helene and Milton, but the real crisis is unfolding in the aftermath as residents struggle with denied claims and inadequate coverage.
Tag: Florida homeowners
Florida’s Citizens Insurance Eyes an Average 14% Increase in 2025
The Citizens Property Insurance Corp. Board of Governors on Wednesday will consider a proposal that would lead to an average 13.5 percent rate increase in 2025 for homeowners with the most common type of policy and an average 14.2 percent increase for condominium-unit owners.
Progressive Insurance Begins Dropping Homeowners Policies in Florida
It was a sinking feeling the moment Bradenton resident Ira Kasdan got the letter last month that he was being dropped by Progressive Insurance.
Florida Committee Moves Bill to Increase Citizens’ Coverage Cap
The Florida Senate Banking and Insurance Committee has advanced a measure that would increase the maximum dwelling replacement value for homes covered by Citizens Property Insurance Corp. to $1 million from the current $700,000.
Slide Acquires Renewal Rights for Farmers’ Homeowners Policies in Florida
Slide Insurance, the full-stack insurtech providing effective homeowners coverage for the Florida market, today announced it has acquired renewal rights for 86,000 Florida homeowners insurance policies from Farmers Insurance®.
Florida Regulators Say No to Citizens’ Request for 13.3% Rate Increase
Amid explosive growth in its number of policies, Citizens this year asked the Office of Insurance Regulation for approval of an overall 13.3% rate increase, with 12% hikes for “multi-peril” policies on primary residences.
Florida Shifting 184,000 Homeowner Policies from Citizens to Private Insurers
As homeowners continue piling into the state-backed Citizens Property Insurance Corp., regulators this week approved proposals that could lead to private insurers pulling as many as 184,000 policies from Citizens starting in October.
Farmers Insurance Is Leaving Florida in Latest Blow to Homeowners
Farmers Insurance is the latest insurer to leave Florida, where homeowners are paying more than ever for insurance, despite the state’s attempt to shore up the wobbling market.
Two More Property Insurers Scaling Back Coverage in Florida
Florida homeowners have fewer options for property insurance. Just two weeks into hurricane season, The Farmers Group and AIG say they’re scaling back policy coverage.
Florida Startup Slide Buys 91,400 Homeowners Policies from UPC Insurance
A Tampa insurance technology startup has acquired more than 91,400 Florida homeowners insurance policies from St. Petersburg’s UPC Insurance.