Why are homeowners insurance being Cancelled in Florida?
Why are homeowners insurance being Cancelled in Florida?
The reason? “To reduce our overall exposure level related to catastrophic loss.” Tens of thousands of Florida homeowners have been left scrambling after their insurance companies dropped their coverage — and it’s all taking place during hurricane season. Jul 20, 2021
Why is it hard to get home insurance in Florida?
Why Florida Homeowners Insurance Costs So Much Because Florida sits between the Atlantic Ocean and the Gulf of Mexico, it has catastrophe exposure on both its east and west coasts (most states don’t even have both an east and west coast!), from two different water bodies that have different weather patterns. Mar 16, 2020
Is Gulfstream insurance leaving Florida?
Gulfstream, which operates throughout the state except for Miami-Dade, Broward, Palm Beach and Monroe counties, is nixing 20,311 out of its 56,000 Florida policies, citing the threat of a deteriorating financial condition that would reach “an unsustainable level by mid-2021.” May 25, 2021
