Roof repair schemes, runaway litigation push Florida insurers to the brink

Article Courtesy of ABC Action NewsBy Michael PaluskaPublished January 25, 2022 TAMPA — Homeowner’s insurance rates will continue to go up for at least two more years as legislators work to control lawsuits filed by attorneys on behalf of roofing …

Loans for Condos? New Rules Start to Have an Effect

Article Courtesy of Florida RealtorsBy Jeff LazersonPublished January 27, 2022 Fannie’s tighter loan requirements post-Surfside collapse started Jan. 1; Freddie’s start Feb. 28. In the meantime, the list of no-loan condo projects will likely keep growing. A nightmare scenario looms …

Get ready to dig deeper: Despite reforms, insurers warn consumers that more rate hikes are coming

Article Courtesy of The Sun Sentinel By Ron Hurtibise Published October 26, 2021 Homeowners hoping for an end to steep property insurance rate increases next year might as well start looking for other expenses to trim. It’s not happening. Costs won’t be …

Florida task force makes recommendations on condo safety

Article Courtesy of The Orlando Sentinel By Brendan Farrington Published October 19, 2021 TALLAHASSEE — Florida legislators should overhaul the state’s condominium laws in the wake of the Surfside building collapse that killed 98 to address inspections, ensuring proper reserves are …

Insurance May Not Cover Damages to Homeowners Association Common Spaces. This is Where Loss Assessment Coverage Comes In

Article Courtesy of The Next Door Advisor By Elizabeth Rivelli Published June 13, 2021 Whether you live in a single-family house, a condo, or an apartment, having property insurance is important to protect your personal items and your liabilities, among other things. …

What you need to know about pending changes to Florida insurance laws

Article Courtesy of The Sun Sentinel By Ron Hurtibise Published May 14, 2021 No one was thrilled with the insurance changes that were passed on the final day of the Florida Legislature’s spring session — not the insurance industry and not consumers’ …

As hurricane season approaches, three insurers are canceling thousands of Florida customers

Article Courtesy of The Sun Sentinel By Ron Hurtibise Published May 20, 2021 As another hurricane season bears down on the state, more than 50,000 Florida home insurance customers will soon receive notices that their policies have been canceled or won’t be …

Citizens home insurance policies soar in Central Florida; higher costs could hit all our pocketbooks

Article Courtesy of The Orlando Sentinel By Trevor Fraser    Published February 11, 2021 State-run Citizens Property Insurance is sounding alarm bells over their rising number of policies it holds in Orange, Osceola, Seminole and Lake counties.  CEO Barry Gilway says Florida’s overall …

Condo and co-op owners need homeowners insurance, but it’s not the same type you’d get for a house

Article Courtesy of The Business Insider By Ronda Lee Published November 13, 2020 Condo HO-6 insurance is a type of homeowners insurance for condo and co-op owners. The major difference between condo and standard homeowners insurance is the dwelling coverage. Although not …

As property insurance costs skyrocket, lawmakers will consider these ideas to keep coverage affordable

Article Courtesy of The Sun Sentinel By Ron Hurtibise Published November 17, 2020 As Florida homeowners recover from shocking cost increases for their next year of insurance coverage, pressure is mounting on state lawmakers to step in and stem the bleeding.     Property …