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Originally Posted by Kelevision
This is an interesting article that might help explain…… No direct hits occurred in Florida over the past three hurricane seasons (2019-2021). Florida, however, is the site of 79 percent of all homeowners insurance lawsuits over claims filed nationwide while Florida’s insurers receive only 9 percent of all U.S. homeowners insurance claims, according to the Florida governor’s Office. To illustrate how lawsuits have weighed on insurer operating costs, JD Supra, citing the Florida Office of Insurance Regulation (OIR), reported $51 billion was paid out by Florida insurers over a 10-year period and 71 percent of the $51 billion went to attorneys’ fees and public adjusters. The 2020 and 2021 cumulative net underwriting losses for Florida’s homeowners insurers totaled more than $1 billion each year.
Entire link Florida's insurance crisis worsens as Farmers pulls out. What to know |
I've searched endlessly online but can't seem to find what is the most relevant data for making informed decisions about purchasing homeowners insurance at the Villages, what deductible to get, etc. And that data would include home insurance claims broken down by Florida county. It's obvious that coastal cities are more vulnerable than inland cities. For example, what is the average number of claims/10,000 houses in Sumter, Lake and Marion Counties vs. some of the coastal counties? And what is the average payout per claim? Of the recent most destructive hurricanes, what is the average claim here at the Villages vs. Florida in general? I'm not sure they want us to know that information because we're likely subsidizing other areas.