Real Estate News for North Pinellas County

Archive for the 'Homeowners insurance' Category

Homeowners’ insurance; relief is on the way?

Okay, first of all — sorry, sorry, sorry for being away so long. It seemed like the holidays were just too demanding of my time this year, and, between that and the usual work demands, there just didn’t seem to be any blogging time at all. Soooo, I took a bit of a hiatus. Hope you didn’t miss my chatterings too much. Anyway, I’m back…

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It looks as though we may be on the verge of getting some much-needed homeowners’ insurance relief. And it seems that we have our new governor, Charlie Crist, to thank for that.

When he was running for governor, Crist said that the insurance companies were profiteering and they needed to change their ways if they were going to keep doing business in Florida. This past month, Crist told the Legislature that they needed to get serious about reforming homeowners’ insurance, and it looks like lawmakers might have used a one-week special legislative session to good advantage. As of yesterday, it looked as though they might actually pass legislation that contains some teeth, telling the companies that they have to write homeowners’ coverage if they want to sell other types of insurance in Florida.

Basically, the packages that the legislature is considering shifts more hurricane risk to homeowners and to the state and away from the companies. Not ideal, but I imagine we’ll support anything that gets rates out of the stratosphere.

We’ll see what happens in the coming days…

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