Bringing you succinct updates on the ever-evolving insurance economy. As Licensed Insurance Agent, I'm here to keep you informed.
Florida
Joined April 2022
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Temporarily closed??? (According to Google search results)
ALSO, does this mean the litigation claims gets temporarily thrown out for this 135+ year old location?
Makes me think insurance is heavily reliant on subsidies....
finance.yahoo.com/news/medic…
Highest price jumps for homeowner insurance premiums in descending order:
Utah
Illinois
Arizona
Pennsylvania
Illinois home insurance prices jumped 50% in three years — second-highest in the country, study shows - Chicago Sun-Times
#homeownership #PriceHike
Homeowner insurance used to be something you sign up for and then forget but now it's one of the most harmful issues for new home sales.
I don't see this trend changing.
Universal Property and Casualty will pay back $30 million for "fraudulently backdating " Hurricane Irma claims in order to get reimbursement from Florida's Hurricane Catastrophe Fund.
This hurricane was 7 years ago
tampabay.com/news/florida-po…
#Hurricane
If you ever want to see an example of springing up an insurance company and sell $1 billion worth of premiums in less than 10 years, take a look at Lemonade. (NYSE: LMND).
"Lemonade’s full stack insurance carriers in the US and the EU replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything" - businesswire.com/news/home/2…
Which state will see the highest increase in insurance rates upon renewal or upon switching carriers?
NEW YORK
According to Matt Brannon, Insurify data journalist
usatoday.com/story/money/202…
Auto insurance is a legal requirement and yet the percentage of uninsured drivers rose from 11% to 14% between between 2019 and 2022 according to a study from the Insurance Research Council.
Are the penalties for breaking this law becoming less significant compared to the rising auto insurance cost?
insurancebusinessmag.com/us/…
The offer below is now sold out. Stay tuned for the next opportunity.
I have a homeowner insurance coverage tracker available for you to download. Click the link below: etsy.com/listing/1894608489/…
I have a homeowner insurance coverage tracker available for you to download. Click the link below: etsy.com/listing/1894608489/…
More Citizens' takeout offers are coming for over 130,000+ Florida homeowner policyholders. Make sure that if you qualify for primary residents rating (living in risk address for more 9 months or more), that your policy has that rating to avoid higher rate caps.
Senate Bill 794 aims to stop artificial intelligence from denying insurance claims - flsenate.gov/Session/Bill/20…
Came across a condo policy with a 127% premium increase in 12 months. There are no changes to the coverages and this policy does not include a dwelling limit.
Progressive home has verbally announced to their agents that they are non-renewing majority of their florida homeowners and dwelling fire policies. A written notice is on its way. #insurance #homeowner #Florida
I came across a non-renewal notice for a policyholder's homeowner insurance because of the roof condition. To rescind, the underwriters want to see proof of repair for lifted shingles. Seems like the usual in this market except for the fact that this home was built in 2022.
Scam alert:
Citizens Insurance will not e-mail you with missing policyholder's name, property address and agency name all at the same time. In addition, Citizens Insurance will not require you to click on a hyperlink.
