Deteriorating Property Insurance Market

It is no surprise to Florida homeowners the property insurance market is deteriorating while rates are increasing, and quickly. Several domestic insurance companies have been liquidated, downgraded by the rating agencies, have been placed into rehabilitation by the state’s financial department, or have faced all three scenarios. While it is yet to be determined how the state legislation will assist in this crisis, voicing public concern may be the only help left.

Many cost drivers are affecting the property insurance markets in Florida which has and will cause drastic affordability problems for homeowners. These same issues have caused significant downside for insurers. There is still much needed help to address the cost drivers including attorney’s fees, excessive litigation, unscrupulous solicitation and fraudulent claims. Meaningful reform is a must without harming consumers! Use the links below to make your voice heard:

Complete the Homeowners Insurance Consumer Survey – Homeowners Insurance Consumer Survey (myfloridacfo.com)

Contact your Florida representative and urge them to address these issues immediately – Find Your Representative | Florida House of Representatives (myfloridahouse.gov)

Contact a Blankit Insurance Group agent to determine your options – Contact Us

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