In 2022, Florida Legislature helped the caving in of the property insurance industry in the form of a $3 Billion Hurricane Catastrophe Fund yet $2.2 billion of that fund remains untouched as of now. There are a few brave new insurers, last year most carriers were filing rate increases of 40% plus to 100%. Hopefully the funds will be enough for this new Storm season. With last weeks deluge; the flooding has already started a steady stream of claims. (no pun intended). Being a Native of Florida; I keep pleading that those who continue to complain of the rising costs (and they are Hefty), might want to sell their house/home to us. We do pay cash and have cash strategies that can certainly solve that issue.
Folks with Citizen’s Property Insurance company….Citizens will be having a 14% increase so that they can just stay alive.