High Cost of Home Insurance Premiums May Be Slowing Florida Home Market
The high cost of rising home insurance premiums is driving potential buyers from the market. But according to Florida state leaders and executives at state controlled insurance company Citizens, the increased rates are necessary to bolster the private insurance market and to protect against potential future “hurricane taxes” if a storm created enough damage to wipe out Citizens’ cash stores. Hurricane taxes are levied on nearly all Florida residents and are needed as a safeguard against future destruction, says Citizens.
View full press release