Many Florida homeowners hit with higher insurance premiums
State and insurers blame storms, litigation
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Her policy went from $1,318 to $2,153 a year, a more than 60% increase.
“It kind of throws you into a panic mode,” Landry said.
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Landry says she has been in her Ocala home 17 years with only minor increases, and only one minor claim that happened years ago.
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“I don’t think the insurance companies should be able to do this,” Landry said. “It’s just wrong. I mean, people are struggling to stay in their houses.”
Landry is by no means alone.
News 6 did some digging and found from January to September 2020, dozens of property insurance companies requested rate increases from the state, according to court filings.
Orlando and surrounding counties have seen a dramatic increase in Citizens Insurance policies for homeowners, a trend that some experts are trying to reverse.
Property insurance rates continue to go up as leaders in the industry say exaggerated claims are the main reason. In the past, the rate increases have been blamed on sinkholes, hurricanes and flooding. Now there’s a new culprit: roofers.
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Florida senators renew push to repeal no-fault system
Jim Turner, News Service of Florida reporter
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TALLAHASSEE, Fla. – With the bill’s sponsor saying the coverage hasn’t kept up with the times, the latest effort to end Florida’s no-fault auto insurance system chugged through its first Senate committee on Tuesday.
The Senate Banking and Insurance Committee backed the proposal (SB 54), which seeks to replace a requirement that motorists carry personal-injury protection coverage key to the no-fault system with mandatory bodily injury coverage.
But while bill sponsor Danny Burgess, R-Zephyrhills, said the overhaul is “long overdue,” concerns linger over the potential financial impacts on low-income drivers and the inclusion of a “bad faith” litigation issue that has tripped similar efforts in the past.