25 Mar Property Insurance Rates Skyrocket
Many Florida property owners were blindsided this year with the dramatic increase in their property insurance premiums. Double digit increases are the norm with many doubling over the last two years. Many insurers have packed up and left the state, leaving many property owners to search for new policies in a non-competitive diminished marketplace. Often reducing coverage limits is the reluctant choice in order to keep the premiums affordable.
This is all happening even though Florida has been in a quiet period of extreme weather events, but insurance companies are national or even international and disasters in other parts of the US or even the world ripple down to affect every property owner in Florida.
Brendan Lynch explains what is happening, why it is happening and what homeowners can do to secure coverage.
Click here for the latest podcast – “Property Insurance Rates Skyrocket”
Talk of the Palm Beaches on 95.9FM – Hosted by Penny Pompei
Brendan Lynch, President
Condo & HOA Association Specialist
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