Tag: Florida property coverage

Florida’s top earners pay hundreds of thousands in homeowners insurance premiums

Julie Campbell
Homeowners insurance - Raining Money - Umbrella

Some billionaires in the state are paying as much as $622,000 per year for property coverage. Florida’s mega rich may own massive properties and huge mansions, but this doesn’t mean that they are able to escape the skyrocketing homeowners insurance premiums the state has been facing. In fact, billionaires in the state are paying hundreds of thousands of dollars for their coverage. According to a recent Bloomberg report, owners of some of the largest mansions and properties in the state are paying massive homeowners insurance premiums every year. The report…

Read More

Rising home insurance rates are causing real estate buyers to think twice

G. Turner
Home insurance - Rising rates - Arrow wooden homes

A recent report pointed to skyrocketing premiums as a deterrent to purchasing homes in Florida. Rising home insurance rates are nothing new to property owners in Florida, but recent hikes have been particularly high, and with an additional 1% emergency assessment fee to be applied to policies, real estate agents are seeing increased hesitation from customers. The state has been attempting to come up with a strategy to overcome a coverage crisis. The emergency assessment fee was announced earlier this month and is intended to help deal with the issues…

Read More