Posts with tag 'home insurance'

There's something exciting about stepping into a newer home - and it's not just the fresh paint.  From safety to style, newer homes offer major advantages over older ones.  Let's dive into why upgrading could be a game-changer for your family.

• Safety & Resilience
  Florida's building codes have evolved dramatically since the hurricanes of '92, '04, and '17.  Today's homes are built tough - with impact windows, reinforced roofs, and block construction that stands up to storms.  Older homes often lack these protections, and that can mean higher insurance costs and more risk.
  
  
•  Energy Efficiency
  Newer homes are designed to save you money.  Think better insulation, high-efficiency HVAC systems, and double or triple-pane windows.  Homes built before 2005 often miss the mark here - leading to higher ut...

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You may have noticed that your annual renewal for your home hazard insurance policy has either been creeping higher, or has drastically risen over the past couple years.  Here is a brief history on why insurance costs have gone up in Florida, and what is being done about it.

What has caused insurance rates to skyrocket in Florida?

• The initial reason was steadily rising rates due to Hurricanes, especially Hurricane Irma in 2017. The original statute of limitations for filing Hurricane claims was 3 years, so many claims concluded in 2020, with many still in litigation.
  
  
• The rising cost of "re-insurance", which insurers pay to ensure they can cover all claims after a catastrophic storm event.
  
  
• A combination of well-meaning court rulings and changes in state l...

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