Page 39 - Mark Friedlander News Today

We spoke to Beaufort County property managers to learn what the increases are and why

It continues to be a hot topic in Florida: The property insurance crisis that’s resulted in skyrocketing premiums for homeowners and more than a dozen insurance companies that have stopped writing policies in the state.

The pause comes on the heels of news of property insurance raising the costs of their premiums. Some premiums may see an increase of 40% across the state.

The Insurance Information Institute says the replacement cost for homes has increased 55% over three years, outpacing inflation.

Two weeks into hurricane season, and two property insurance companies in Florida are scaling back policy coverage, citing their vulnerability to natural disasters like hurricanes and flood.

Both Allstate and State Farm have announced they will stop offering home insurance policies in California.

What happened to Lindsay Du Buque’s car in an instant has led to a six-month insurance nightmare.

CHARLESTON, S.C. (WCBD) – FEMA’s new flood insurance pricing methodology under the National Flood Insurance Program could change how much homeowners in Charleston pay for flood insurance. Mark Friedlander, a spokesperson for the Insurance Information Institute, said the new method, Risk Rating 2.0, is an update to a system that was antiquated and bleeding money. […]

It is not just another storm that Floridians are bracing for, but a possible rate hike with their property insurance.

On this week's Florida Roundup, we discuss Florida transporting migrants from Texas to California and why more property insurers leaving the state.