Florida Property Insurance Rates Are Rising: What This Means to Florida Real Estate Investors


Some South Florida homeowners are discovering a huge jump in their property insurance premiums, so high in fact that Susan Salisbury reported in the Palm Beach Post this week about Florida real estate owners getting bills that show a 150+% increase from last year's property insurance.

Florida's Increasing Property Insurance Pricing - Up, Up, Up

In 2010 and again in 2011, the Florida regulators that oversee insurance companies operating in the state have approved rate increases in property insurance for Florida homeowners. The Palm Beach Post story reports that Florida's biggest insurance company, the non-profit, government-run Citizens Property Insurance, has legally increased its rates by 10% each year. Approximately 20 other Florida insurance companies have rate increase proposals under consideration before the state regulators right now. Expectations are that they will be approved.

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