Citizens’ insurance premium increases are affecting hundreds of thousands of Florida homeowners

BOCA RATON JARVIS WPBF, 25 NEWS. NEW ON 6 MANY PEOPLE IN FLORIDA ARE CLOSE TO A BILL THEY WILL NOT LIKE CITIZENS PROPERTY INSURANCE HAS BEEN RAISING PRICES FOR GOOD CUSTOMERS THAT THE INSURER YABORA HAS PLACED. YOU WENT AS AN EMPLOYEE WHEN YOU COULDN’T GET HOME INSURANCE. TERRY PARKER IS USING THIS STORY AND TERRY A LOT OF PEOPLE HATE IT. WHAT ARE YOU STUDYING? WE HAVE BEEN TELLING YOU ABOUT THIS, FLORIDA INSURANCE CRISS FOR A LONG TIME THE LAWYERS HAD A SPECIAL STUDY ON THIS LAST YEAR AND CHANGED SOME LAWS BUT NOT ENOUGH TO STOP YOUR MONEY FROM RUNNING OUT. THERE ARE MORE BOOKS AND MORE AND MORE WORK OR POLICY IN FLORIDA MORE PEOPLE AND MORE PEOPLE ARE DISCLOSED TO THE STATE EMPLOYEE’S INSURANCE, BUT THE USE IS APPROVED WITH A 6% DEPOSIT. SEPTEMBER FOR MANY CUSTOMERS. SO THE CALL WILL WORK. THESE DAYS ARE, YOU KNOW, I DON’T KNOW WHAT TO DO. I’M SELLING MY HOUSE. I DON’T KNOW WHAT I’M GOING TO DO AND IT’S NOT ONLY PEOPLE WHO LIVE IN HOMES THAT NEED INSURANCE COSTS. GREG BUCKS SAYS A LOT OF PROFESSIONALS WHO HAVE THESE WORRIES HAVE PEOPLE’S INSURANCE, BUT MANY ARE SINGING BECAUSE THEIR BEST PROFESSIONALS ARE UP TO 30 TO 50 PERCENT. GOOD PEOPLE WANT TO WALK BELIEVE IT OR NOT. IT CAN BE GOOD FOR OUR VENDORS. FLORIDA HOMEOWNERS WERE ALREADY PAYING SHORTLY THREE TIMES FOR A REASONABLE PROPERTY INSURANCE COST DUE TO HIGHER NEEDS AND A HIGHER LIVING THAT PEOPLE SAY ARE STRUGGLING TOO MUCH. TO REPEAT ON UPGRADING YOUR LOCATION. PEOPLE HAVE THIS POINT. OH, I CAN ALWAYS GO TO PEOPLE. WELL, WE DON’T STILL HAVE THE TRUTH BECAUSE THEY HAVE A CAP ON WHAT THEY WILL APPROVE. They don’t want it. HOUSES VERY DISTANT. THEY WANT TO BE THE LAST EMPLOYMENT PLACE AND WHAT THEY HAVE TO SHOW THAT THEY WANT TO BE, YOU KNOW, MAYBE LET’S SAY 500 AND UNDER. HMM BUCK TELLS ME THE BEST THING YOU CAN DO IS START REPAIRING YOUR HOME AND NOW YOU GET A NEW WATER SUPPLY INSTEAD OF SOME TIRES. CHECK YOUR PLUMBING LINE AND MAKE SURE EVERYTHING IS INCLUDED AND IF YOU ARE DISAPPOINTED I WANT TO GET A NEW INSURER TO COVER YOUR HOME. ALSO WE ARE DISCUSSING IF YOU JUST WANT TO START SAVING MONEY ON MORE A

Citizens’ insurance premium increases are affecting hundreds of thousands of Florida homeowners

Experts say that public insurance is cheaper than private companies

As more and more insurance companies do business or no longer write laws in Florida, more and more people are turning to the last state insurance, Citizens – which in June was approved to increase 6.% can start in September. to other clients.” So the calls are constant, it’s daily, they’re, you know, ‘I don’t know what I’m going to do. I’m going to sell my house. I don’t know what I’m going to do,’ and it’s not just people who live in affordable housing,” said the broker. Greg Buck, owner of National Risk Experts.Buck says most of the homeowners who are concerned are residents. insurance, but many are calling because their private insurance is raising prices too much – 30-50%. Buck said.Florida homeowners already pay about three times the national rate for home insurance.Insurance and high rates due to hurricane damage have led to an increase in fraud cases in the past few years, many of which are leading to lawsuits. That takes the insurance money, and they try to get your money back by raising your price.” So people have this idea, ‘Oh, I can go to Nationals.’ It’s not true, because they have a cap on what they’re going to accept, they don’t want expensive homes. They want them to be the last resort, and the properties they have. go to insurance, they want them to be maybe, let’s say $500,000 and below,” said Buck. What You Can DoBuck said that the best thing you can do is to start fixing your house now; maybe get a new water heater, replace the tiles on the roof, check the pipes. He said that most claims come from water damage, and insurers often reduce those claims to $10,000 – which can be cheaper if your house floods and leaks. He recommends that you keep your documents in case you need to get a new insurance policy, so that you can make sure that your home is safe. insurance premiums.

Like more insurance companies have gone out of business or not re-writing a policy in Florida, more and more people are turning to the last state insurance, Citizens – which in June was approved for a 6.% increase that will begin in Sept.

“So the calls are constant, they’re daily, they’re, you know, ‘I don’t know what I’m going to do. I’m going to sell my house. I don’t know what I’m going to do,’ and it’s not just people who live in affordable housing,” said broker Greg Buck, owner of National Risk Experts.

Buck says many concerned homeowners have Citizens Advice, but many are calling because their private insurer is raising rates too much – 30-50%.

“Well, the Citizens still ride, believe it or not, it’s going to be better for our customers than what’s out there,” Buck said.

Florida homeowners already pay nearly three times as much for home insurance.

Insurers are seeing price hikes due to past hurricane damage and an increase in fraudulent claims over the past few years, leading to lawsuits. This costs the insurance company money, and they try to recover it by raising your premium.

“So people have this idea, ‘Oh, I can always go to Citizens.’ It’s not true, because they have a cap on what they’re going to accept, they don’t want expensive homes. They want them to be the last resort, and the property they have. When they’re insured, they want it to be maybe, say $500,000 and under,” said Buck.

What You Can Do

Buck said the best thing you can do is start fixing your house now; maybe get a new water heater, replace the roof tiles, check the plumbing lines.

He said most claims stem from water damage, and insurers often limit those claims to $10,000 — which can be much less expensive if your home floods from a burst pipe.

She also recommends keeping your receipts if you need to get new insurance, to make sure your home is in good shape.

And he says, although it is difficult in this time of inflation, you may want to start saving for expensive insurance.