LOWER PROPERTY INSURANCE PREMIUMS A PRIORITY IN TALLAHASSEE

In a report issued from Tallahassee, comprehensive insurance reform was addressed during the 2008 legislative session.  Representative, Ellyn Bogdanoff, stated in her newsletter that the legislated "Homeowner's Bill of Rights" will level the playing field between insurers and their customers and ensure that all Floridians are treated fairly by their insurance companies. 

The bill changes the state's insurance code to make it more difficult for insurance companies to raise rates and cancel policies, and easier for policyholders to collect from insurers.  The bill also requires insurance companies to use only scientifically valid hurricane-loss models approved by the state to set rates.  The insurance industry uses loss models to predict the potential for future hurricanes and determine insurance rates each year.

The insurance market is slowly rebounding in Florida, with insurance rates holding steady and even declining in some places.   Bogdanoff believes properly storm proofing our properties is the best way to reduce insurance rates in Florida.   Hurricane impact glass for windows and doors, shutters, properly trimmed trees around electrical wires, and FPL incentives to storm-proof residences all contribute to lower insurance rates.

The "Homeowner's Bill of Rights" is one more boost toward improving Florida's real estate market.   I'm happy to share this information.

If I can answer any of your luxury real estate needs, call 954.328.3665 or email Julie@premierestateproperties.com.  My exciting Fort Lauderdale listings can be viewed at www.LuxuryRealEstateFtl.com