Ins. agents: Citizens will be insuring more Fla. homes (4/24/2017)
Fla.’s insurers meet next week in Orlando, and a hot topic will be the growth of Fla.-owned Citizens because insurers stopped writing policies in some areas.
Do investors need landlord insurance? (4/24/2017)
Landlord insurance coverage varies based on location; but, in general, it will protect the house, apartment or condo being rented out against “covered perils.”
Survey: Flood insurance reforms have bipartisan support (4/18/2017)
Lawmakers may disagree, but a survey of voters found strong support for flood insurance upgrades, including conservation buyouts and local mitigation efforts.
Most consumers think their insurance covers flooding (4/10/2017)
The national flood program might be in better financial shape if more homeowners knew they needed coverage. A recent study found that 56% do not.
It’s time to evaluate flood insurance coverage (4/5/2017)
Hurricane season starts June 1, and newly insured homeowners must wait 30 days after they’re accepted for coverage to kick in. Bottom line: It’s time to sign up.
Need flood insurance? It expires in six months (3/30/2017)
On Sept. 30, the national flood insurance program officially ends, which could create a dilemma for homeowners and buyers. NAR is working with federal regulators to extend and improve the program, but challenges lie ahead.
Citizens Ins. says it had a $27M net loss in 2016 (3/30/2017)
In 2015, the state-run insurer had a $5.7M profit, but blames its 2016 loss on assignment of benefits (AOB) problems and related litigation.
Tax reform could raise cost of property insurance (3/21/2017)
Insurers buy reinsurance to reduce risk, but most reinsurance businesses exist outside the U.S. Fla. TaxWatch says a border tax proposal would increase the cost of reinsurance and homeowners would end up paying for it via higher property insurance rates.
Court backs State Farm on policy info (3/21/2017)
In a defeat for the Office of Insurance Regulation, an appeals court agreed the info is a “trade secret” and should be shielded from public disclosure.
Budget proposal could impact flood insurance (3/21/2017)
Proposed $190M budget cuts for updating flood maps could lead to higher costs if insurers stop trusting older maps or homeowners must make up the difference.
U.S. House studying a flood insurance extension (3/15/2017)
The national flood insurance program ends Sept. 30, and Congress has just started to look for ways to rework and continue the program, which is deep in debt.
Insurance claim satisfaction rises – but not so much in Fla. (3/10/2017)
A J.D. Power survey finds that Americans are generally happier with their property insurers when they have a claim, though little has changed for Floridians.
Lenders may soon reject some Fla. property insurers (2/9/2017)
Fannie and Freddie decide which insurance companies are okay, but they may soon delete a few from Fla. lists, which would force 250K owners to find a new insurer.
Hurricane Matthew damage? 60 more days to file (2/6/2017)
FEMA has granted homeowners affected by Hurricane Matthew flooding 60 more days to file a flood insurance claim.
Court weighs State Farm Florida trade secrets (1/20/2017)
Where does State Farm sell insurance policies in Fla.? The group considers that a trade secret, but an appeals court will decide if that claim is justified.
Water claims could lead to more Citizens policies (12/8/2016)
After years of downsizing, the Fla.-owned property insurer said its policy numbers would probably increase in 2017 due mainly to a bump in water damage claims.
86% of buyers don’t know what a CLUE report is (11/16/2016)
If a seller made multiple property insurance claims, buyers could end up paying surprisingly higher premiums – but only 12% request a CLUE report.
Realtors’ flood insurance role? Tell owners about it (11/7/2016)
Maria Wells, NAR insurance chair and 2017 Florida Realtors president, says members should get to know their floodplain manager and find an ins. agent they trust.