Ryan Papy News Today

After two hurricanes in 2022 and historic flooding last month, more Florida homeowners than ever realize they need flood insurance. Unfortunately, it comes at a time that coverage costs are exploding.

Homeowners adding solar panels study energy savings and break-even costs, but they should also call their insurer: Some increase premiums and some cancel policies.

Rooftop solar customers say insurance companies are refusing to cover them or canceling them if they install solar panels. If you are considering getting solar, here's what you need to know to make sure you stay insured.

The news keeps getting grimmer for Florida insurance customers: Displaced policyholders with open claims are having trouble getting new coverage; a financial stability ratings firm is asking for a special legislative session to tackle a looming funding crisis; and a leading insurer of homes worth $1 million or more is pulling out of the homeowner market, leaving wealthier homeowners with dwindling choices.

The news keeps getting grimmer for Florida insurance customers: Displaced policyholders with open claims are having trouble getting new coverage; a financial stability ratings firm is asking for a special legislative session to tackle a looming funding crisis; and a leading insurer of homes worth $1 million or more is pulling out of the homeowner market, leaving wealthier homeowners with dwindling choices.

Instead, he left the proposal up to leaders of the state Senate and House. So far, there’ s been no indication that Senate President Wilton Simpson and House Speaker Chris Sprowls plans to call a special session, said Sen. “The conditions of the property insurance marketplace in Florida are unsustainable,” the letter said,“ and without the necessary corrective action,...

Customers of Tampa-based Avatar Property & Casualty Insurance Co. had better get moving: They have just three weeks to find new home insurers or be left uninsured as we inch closer to the start of hurricane season.

Policyholders of Avatar Property& Casualty Insurance Co., which was declared insolvent earlier this month, have until April 13 to find new carriers. Another 2,462 were in Orange, Seminole, Lake and Osceola counties. “Yes, we are pulling our hair out right now,” said Dulce Suarez-Resnick, vice president at Acentria Insurance in Miami.

Every Fla. property insurance company calculates “replacement cost” differently, but almost all will charge more next year – in addition to other standard increases.

Florida home insurance costs will likely rise even higher than expected next year as companies increase the replacement value, or the estimated cost of replacing a damaged home, to reflect skyrocketing costs of construction materials and labor.