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The Villages
Wednesday, August 10, 2022

Who is to blame for spike in insurance rates?

To the Editor:

DeSantis’ commission approved a $1 billion increase in homeowners’ insurance rates last fall. That is why our insurance premiums are spiking. When the Legislature met in a special session last month in Tallahassee, they approved a new law committing $2 billion of our tax dollars to the reinsurance program, basically to prop up the insurance companies. So that is $3 billion of our tax dollars going towards homeowners insurance. And yet, Senator Boyd, the sponsor of the bill said that insurance premiums may not stabilize for the next 12-18 months.
The preemptive laws coming out of Tallahassee are starting to have their unintended consequences. Communities around the state cannot impose any kind of rent control now because of the puppy mill law. If they do, they are likely to be sued by the business suffering a loss because of rent control, under the new law. Not only will the community be liable for business losses, they could also be forced to pay damages. Local communities are us, you and me and we will end up paying these damages.
On the plus side, the new insurance law makes it virtually impossible for unscrupulous roofing contractors to sue insurance companies on behalf of the homeowners. This is a welcome relief. These contractors would have the homeowner sign over their rights to the contractor and then they would literally force the insurance company to pay for a new roof or else face an equally expensive lawsuit. The insurance companies settled with these contractors rather than go to court. Now that this venue is closed for the roofing contractors, you will see very few roofs being replaced in The Villages anymore.

Ash Marwah
Village of Belvedere

 

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