Florida homeowners are faced with a dilemma regarding their homeowners insurance, and it was man-made. Insurance agents are stating "I have never seen it this bad. If you talk to retail agents, I think everyone will tell you it's never been as bad as it is now."
The homeowners insurance companies in Florida say, besides the threat of hurricane wind and waves, they are now facing a confluence of exaggerated roof claims, more and more claims litigation, soaring reinsurance costs, poor financial ratings, and a state-backed insurer of last resort that has become the largest, and in many areas, the lowest-priced carrier in the state.
You can read the entire article here: Insurance Journal Article - Click Here
United Property & Casualty insurance company in Florida is exiting the market. You can read the full article here: United Property & Casualty - Click Here
Click here to see July 2022 Market Updates for Palm Beach County - Click Here