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Old 10-05-2022, 03:24 PM
kkingston57 kkingston57 is offline
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Quote:
Originally Posted by Rainger99 View Post
The big reason Florida insurance companies are failing isn't just hurricane risk – it’s fraud and lawsuits

The big reason Florida insurance companies are failing isn't just hurricane risk – it’s fraud and lawsuits
A lot to be said about fraud in Florida.

Florida has not had a hurricane since 2018 and 6 insurance companies went bankrupt in 2022. Hurricane Ian will be catastrophic on a $ basis. Compounding the issue is that the fraudulent claims do go up after storms since insurance companies do not have the manpower/time to investigate suspect claims that are filed during storms. Most people in TV have been lucky so far. Watch out for next years premium. A lot of us will have very few choices, if any, and might end up with Citizens. Their policies are more expensive and are more restrictive.