The latest on Florida Keys Insurance

By
Real Estate Agent with Coldwell Banker Schmitt Real Estate Company

March 19, 2007
 
Florida’s property owners saw a very good bill enacted during the special session, but the work to create effective insurance reform is far from finished. Despite the desperate need for fair property tax reform, we can’t forget that the work on insurance reform is far from completion. The recently filed rate-cuts are much lower than expected, showing the need for stronger legislation.
 
During the pending legislative session we need bills enacted that will strengthen our goal of feasible insurance premiums and work strongly against attempts to weaken insurance reforms that have already been achieved.
 
To achieve the desired results to strengthen insurance reforms, we must continue to work toward our goals:
 
Fair insurance premiums for all consumers;
Reasonable length of time for claim reimbursement;
Building codes that will promote the health, safety and welfare of Florida citizens.
 
The Consumer Insurance Coalition Opposes
 
1.       The weakening of building codes.
2.       SB 1870 by Senator Posey which would push back the effective date of statewide building code to June 1st.
3.       The repeal of a 90-day requirement for insurers to pay claims.
4.       A limitation on hurricane mitigation discounts to 25%. State Farm argues that there is no proof that mitigation works. However, the members of the Coalition are convinced that it will help. Examples of good hurricane-proof construction, such as the Broward hurricane-house and real-life experience in the Florida Keys , show that strengthening homes works perfectly.

 

The above is courtesy of http://www.fairinsuranceratesinmonroe.com/ 

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