{"id":2020479,"date":"2023-09-02T18:19:02","date_gmt":"2023-09-02T22:19:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hurricane-idalia-just-latest-reason-florida-residents-are-pummeled-by-insurance-costs\/"},"modified":"2023-09-02T18:22:45","modified_gmt":"2023-09-02T22:22:45","slug":"hurricane-idalia-just-latest-reason-florida-residents-are-pummeled-by-insurance-costs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hurricane-idalia-just-latest-reason-florida-residents-are-pummeled-by-insurance-costs\/","title":{"rendered":"Florida residents face skyrocketing insurance costs due to Hurricane Idalia and other natural disasters."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhurricane-idalia-just-latest-reason-florida-residents-are-pummeled-by-insurance-costs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2020479&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Florida Leads the Nation \u2062in Homeowners&#8217; Insurance-Related Litigation<\/h2>\n<p>Last fall, the Insurance Information Institute (Triple I) <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/san-francisco-da-boudin-says-exploding-crime-in-city-has-nothing-to-do-with-his-policies-effectively-legalizing-crime\/\" title=\"San Francisco DA Boudin Says Exploding Crime in City Has Nothing to Do With His Policies Effectively Legalizing Crime\">published data showing<\/a> that <strong>Florida leads \u2062the nation in homeowners&#8217; insurance-related litigation<\/strong>,\u2064 making up 79\u2063 percent of the lawsuits across the \u2062United States, while accounting for just nine percent of the \u2064total claims.<\/p>\n<h3>The Impact \u200bof the \u2062Insurance Crisis<\/h3>\n<p>So what has happened since? Carriers have left the state, \u200dand there&#8217;s little competition between those left. And that&#8217;s before Hurricane\u200b Idalia ripped through the\u2063 state this week\u2014harshly reminding some residents of \u2063their\u2063 insurance coverage dilemma.<\/p>\n<blockquote>\n<h3>Related \u2064Stories<\/h3>\n<ul>\n<li>\n      <a href=\"http:\/\/www.theepochtimes.com\/us\/in-final-hours-before-landfall-hurricane-idalia-stopped-intensifying-and-turned-from-tallahassee-5484989\">In \u2064Final Hours Before Landfall, Hurricane Idalia Stopped Intensifying and Turned From \u2063Tallahassee<\/a><br \/>\n      <br \/>\n      <span class=\"text-comp-caption\">9\/1\/2023<\/span>\n    <\/li>\n<li>\n      <a href=\"http:\/\/www.theepochtimes.com\/epochtv\/hurricane-idalia-aftermath-desantis-to-tour-more-devastated-areas-5484807\">Hurricane \u200bIdalia Aftermath:\u2063 DeSantis to Tour More Devastated Areas<\/a><br \/>\n      <br \/>\n      <span class=\"text-comp-caption\">9\/1\/2023<\/span>\n    <\/li>\n<\/ul>\n<\/blockquote>\n<p>The insurance carriers \u2063that are left in the state, whether representing the owners of multifamily or residential housing, can easily cherry-pick their best customers. According to \u2062Robert Norberg, the president and\u2063 owner of Arden Insurance\u200c Associates in Lantana, Florida,\u2064 this means that those potential customers with the slightest \u2064chance of issuing lawsuits or making huge claims are the ones with the best chance of coverage.<\/p>\n<p>&#8220;Most companies won&#8217;t even write a policy unless your house was built in 2022 or is younger. Some say no if you\u200d don&#8217;t have a new roof. Travelers [insurance] even stopped writing auto insurance in Florida a couple of weeks ago, Farmers\u2063 [insurance] has pulled out of the state completely,&#8221;\u2063 said Mr. Norberg.<\/p>\n<p>Mr. Norberg, who has been selling\u200c insurance in the South \u2064Palm Beach \u2062area for 24 years, says a lack\u2062 of competition means that a\u2064 lot of people who need\u200b commercial or <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/30-year-mortgage-rate-surges-to-6-28\/\" title=\"30-Year Mortgage Rate Surges to 6.28%\">homeowners insurance<\/a> \u200cjust aren&#8217;t\u2064 going to\u200c get it. &#8220;If you have any past claims at all, \u200cyou \u200bwon&#8217;t find coverage in the standard market. Even if you have just made claims \u200cabout \u2064water\u2062 damage in the past three\u200c years, they won&#8217;t take you,&#8221; Mr. \u200bNorberg told The Epoch Times.<\/p>\n<p>Triple I estimates the average cost of home insurance in Florida is $6,000 a year compared to the \u200dnational average of $1,700 \u200cin the rest of the country.\u2064 That\u2062 Florida rate\u200d has risen 42%\u2062 since last\u2064 year\u200c and a 100% spike over\u200d the\u2064 past three. Before Idalia struck this week, state officials and \u200clawmakers hoped\u200c that newly passed insurance \u200dreforms and \u2062an extended break from more torrential storms could\u2062 get the industry to \u200ca point where\u2063 policyholders \u2063could get a break.<\/p>\n<h3>Trump Jabs DeSantis Over Insurance Costs<\/h3>\n<p>President Donald Trump turned Florida&#8217;s insurance plight into a\u2064 political jab during his \u2064speech at\u2064 the \u200bTurning Point Action \u2063conference last month in West Palm Beach. In the speech, \u2064President Trump called out Florida Governor Ron DeSantis, saying \u2064the\u2063 state would\u200b be better served if he \u2063spent more <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hurricane-idalia-just-latest-reason-florida-residents-are-pummeled-by-insurance-costs\/\" title=\"Florida residents face skyrocketing insurance costs due to Hurricane Idalia and other natural disasters.\">time lowering homeowners&#8217; insurance bills<\/a> than campaigning for president.<\/p>\n<p>&#8220;We want him to get home and \u2063take care of insurance because you have the highest insurance in the nation,&#8221; Trump said.<\/p>\n<p>Mr. DeSantis left the campaign \u200dtrail this \u2063week to stay in\u200c Florida while\u2064 monitoring Hurricane \u200bIdalia.<\/p>\n<p>President Trump&#8217;s remarks \u2064came a few days \u200cafter Farmers left the state of\u200b Florida. Others that have decided there is \u2063no profit to \u200cbe made in the state include\u2064 Bankers and Lexington Insurance, an AIG subsidiary, and AAA has \u200bmeanwhile agreed only to renew a few\u200d policies. One\u200d of\u2064 the\u200b few companies remaining \u2063in\u200c the state is Citizens Insurance, a\u2063 state-backed insurer that most \u2063residents in Florida see as a last option. Mr.\u200b Norberg referred to them as &#8220;basic&#8221; but also the &#8220;cheapest&#8221; because of its state \u2063government oversight.<\/p>\n<p>Citizens spokesman \u200bMichael\u2062 Peltier says his \u2062company is fortunate on two fronts; first, Idalia missed South Florida and Tampa \u200bBay, where most \u2062of their clients\u2062 reside, and \u2063two, said damage was far below \u200dthe $10 billion some media \u2064outlets were reporting.<\/p>\n<p>&#8220;The damage\u200b estimates reported have \u2062ranged from $2.2 billion to $9 billion. That&#8217;s \u200bquite a swath \u200dthere. The \u200bnumbers we&#8217;re seeing \u200dare between $2.2 billion and $3 billion,&#8221; \u200che told The Epoch Times. &#8220;We&#8217;ve\u2062 received less\u2063 than a thousand claims so far, and I don&#8217;t\u2062 anticipate the amount of claims will cause us to levy assessments.&#8221;<\/p>\n<p>One regular observer of the tumult of insurance agencies a<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Florida continues to dominate homeowners&#8217; insurance-related litigation, comprising 79% of lawsuits nationwide despite only accounting for 9% of total claims. Consequently, carriers have departed the state, resulting in limited competition. This trend follows the Insurance Information Institute&#8217;s data published last fall.<\/p>\n","protected":false},"author":2335,"featured_media":2020480,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2020479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2020479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2335"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2020479"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2020479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2020480"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2020479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2020479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2020479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}