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Of the $165 billion in natural disaster–caused damage the U.S. experienced in 2022, $116 billion of it was in Florida. Average annual home insurance premiums are triple the national average ...
One study shows 15% to 20% of Floridians dropped their home insurance. ... the average annual premium for insurance in Florida is $5,533 for a $300,000 home — two-and-a-half times the national ...
Florida is not alone when it comes to property insurance. One in 13 homeowners across the U.S. are uninsured, according to a recent study by the Consumer Federation of America. That's a little ...
Florida home insurance has always been complex due to the state’s high risk of storm damage, but the incidence of fraudulent roofing claims has pushed the market to the brink of collapse.
Florida’s insurance policies — including windstorm coverage, but not flood protection — averaged around $6,000, 42% higher than in 2022, according to the institute.
The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]
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