I just heard from a friend of mine that he got a letter of non-renewal from his insurance company. ASI Progressive pulled up anchor and left. Eleven companies had already liquidated in Florida, so this is the 12th one.
The issue of homeowners insurance is continuing to dog us even though we live so far inland.
Fox Business News reported that Florida is the most expensive state for home insurance, with the average annual cost rising $9,213 last year. That is 421 percent higher than the national average.
Legislature is currently in session until March 8. They are looking at what I would consider four minor bills to alleviate homeowners insurance problem. Such minuscule changes in laws are not going to bring any help for us, the consumer.
The State of Florida has given $3 billion of our tax dollars in 2022 for reinsurance basically to help insurance companies, but the insurance mess continues.
Ash Marwah is a resident of the Village of Belvedere.