bill 408: New Florida Insurance Law - Citizens is proposing outrageous rate increases for sink hole coverage!
- 08/31/11 06:03 AM
The new sinkhole insurance law is a disaster for Florida homeowners and buyers in sinkhole prone areas. The increased rates will make it impossible for many people to stay here or move here - especially folks on fixed and limited incomes. The new law removes the 10% cap that limited the amount that insurers could raise rates for sinkhole coverage. In areas commonly known as "sinkhole alley", Citizens proposed rate increase is over 2,000 percent for Tampa, from $156 per year to $3,651 per year. In Pasco County, the rates will increase from $1,475 to $4,440 per year, an increase of … (2 comments)
The new sinkhole insurance law is a disaster for Florida homeowners and buyers in sinkhole prone areas. The increased rates will make it impossible for many people to stay here or move here - especially folks on fixed and limited incomes. The new law removes the 10% cap that limited the amount that insurers could raise rates for sinkhole coverage. In areas commonly known as "sinkhole alley", Citizens proposed rate increase is over 2,000 percent for Tampa, from $156 per year to $3,651 per year. In Pasco County, the rates will increase from $1,475 to $4,440 per year, an increase of … (2 comments)
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