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Florida Property Insurance Costs-Still on the Rise

In Florida Property Insurance, Hurricane season, Insurance Costs on February 22, 2013 at 1:32

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Another hurricane season has come and gone, and Florida was fortunate to escape the wrath of the wind and rain.  New York and New Jersey – not so much.

Nevertheless, Florida property insurance costs are still on the rise. It isn’t just hurricanes that cause rates to rise, although that seems to be what everyone in Florida thinks.  Homeowner claims are up by more than 17 percent in just the last ten years, and many due to non-catastrophe claims.   Interesting note – most involve water.

Also, abusive law suits and the idea of ‘finding money” by suing insurance companies (”Why not?  They have deep pockets!”) make rates rise.   We can’t control the weather.  We can control fraud.  At least we can try.

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