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Sales Tax Holiday an Integral Part of the Property Insurance Reform Agenda

In Hurricanes, Insurance News, Insurance Rates, Property Damage, Property Insurance on February 17, 2014 at 1:32

Governor Rick Scott is pursuing legislative action to allow a sales-tax holiday.  The goal is 15 days of reprieve from taxes in order for homeowners to purchase hurricane preparedness supplies.    This covers the less costly items like batteries, flashlights, and more significant measures such as hurricane shutters.

According to the R Street Institute, a national think tank that houses extensive property insurance research, the proverbial ounce of prevention is worth a pound of cure.  “Each dollar spent on mitigation saves society an average of $4,” said Christian Camara, Florida state director for the R Street Institute.  By preventing property damage, exposure and risk are lessened, and insurance rates drop.

We’ll have to see if the legislation goes through, and if people take advantage of it properly.

Read here to find out more.

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