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In the past, acquiring or keeping homeowners’ insurance didn’t present much of a problem. ... Frustrated by the lack of choices, he switched to AAA home insurance for $2,880 a year.
AAA won’t renew “a very small percentage” of homeowners and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State ...
Fifty-one percent of younger homeowners (aged 18 to 34) had their home insurance nonrenewed or canceled in the last three years, compared to 15% of homeowners aged 35 to 54 and 5% of homeowners ...
The added cost of flood insurance. About 40 percent of the hurricanes that make landfall in the U.S. hit Florida. Since Southern Florida is only about 60 miles wide, flood insurance may be crucial ...
Lexington Insurance Company announced that they will discontinue home insurance, sending another 8,000 property owners to search for a new insurer. Lexington specialized in homes worth $1+ million and Citizens will only insure property values less than $700,000, so Citizens was not an option. [29]
Florida has always been a complex home insurance market. Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida liquidated. Five of those companies ...
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