Florida is experiencing migration, but it is not from the people who are moving; instead, it is the migration of home insurance companies. While this may be relevant to any state, it is of particular concern in Florida ahead of the Atlantic hurricane season, which began on June 1.
Nelson’s Insurance Services wants to help homeowners better understand why Florida insurance problems are happening and what you can do to prepare for the possibility of receiving a notice of cancellation or nonrenewal on your homeowner’s insurance.
Florida has always presented a risky market for home insurance companies due to its high risk of weather damage, but the current challenges are caused by a number of complex and unique factors.
Risk will be considered by Florida home insurance companies. The shape of the country and its location means that it can be hit from all sides by strong winds. Because the peninsula is so thin, even the houses in the middle of the interior are not completely protected.
To make matters worse, this year, NOAA is predicting a 2022 Atlantic hurricane season. If a hurricane hits Florida, which is likely, considering that Florida has been hit by hurricanes more than any other country, it could push the home insurance market to the bottom due to an increase in home repair costs, and unfortunately, the possibility of fraudulent roofs. and home improvement claims.
How can you reduce the risk of non-renewal? If you live in Florida, having a plan can help you reduce your risk of receiving non-renewal insurance. There’s nothing you can do to keep your company out of the state, but there are steps you can take to keep your home as uninsured as possible:
Keep your roof looking good and looking good: Inspect your roof regularly and repair minor damages as they occur.
Install wind-reducing products: State law requires Florida insurance companies to offer discounts on certain wind-reducing products, such as storm cables and other roofing methods. These features reduce the risk of major damage to your home, thus making your property more attractive to insurers.
Take care of your belongings: In many cases, taking care of your belongings will help you get insurance easily. Along with checking your roof, always check the exterior of your home for damage. You should also make sure that there are no large tree branches or other hazards that can cause damage to your home, as this can put you at risk of roof damage in a storm.
The experts at Nelson’s Insurance Services can help you get the most coverage you need. They have the knowledge and experience to help you with all of your insurance needs. The same age and familiarity with different insurance carriers ensures that they get the best coverage to protect you, your family, and your finances. They provide homeowners and renters insurance, along with their cars, on- and off-road vehicles, and marine.
As independent insurance agents, Nelson’s Insurance Services works with a variety of insurance companies to find coverage that fits your business type and size, while staying within your budget. They can also provide employee benefits, such as group health plans and benefits.
So, although there is no way to know what the future will look like, you will know that you are protected. Bryan and Debbie Nelson founded Nelson’s Insurance Services in 1997 to provide the best insurance services to their community and beyond. Feel free to visit Nelson’s Insurance Services at their office located at 10 N Park Avenue. You can contact them at www.nelsonsinsurance.com or call them at 407-886-7553 toll free, no obligation for all your insurance needs.