Citizen's Property Insurance Corporation could terminate coverage on a large quantity of coastal properties with a value over $1,000,000. Along with that they could reduce liability. How this affects you and what risk you are at is something worth checking into.
The cap rate which is currently at $2,000,000 could change to be a cap rate of $1,000,000. Other changes are in the works.
This is all being done to reduce the company's exposure to high risk coastal homes.
Check with your insurance agent to make sure your coverage is not affected. If it is, you may want to find out what your options are.
Selling your waterfront home or condominium is an option which I can help you with. Contact me for a Free Market Analysis.
Alan
Alan Abramson
C 561 400 9077
RE/MAX Luxury Homes Collection
T 561 322 3330 F 561 322 3331
www.alan.abramson.remax.com
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