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We expect home insurance rates in Florida to remain high in 2023 due to expenses associated with ongoing litigation, combined with soaring reinsurance rates and double-digit replacement cost ...
Florida had the highest percentage — 20% — of homeowners paying that annual amount for homeowners insurance in 2023, according to the Census Bureau 2023 American Community Survey, released ...
Florida’s home insurance crisis may be causing residents to flee the state in droves as premiums skyrocket. Rising home insurance rates in Florida could be driving people away. What’s happening:
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 ...
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 ...
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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