What insurance companies are dropping homeowners in Florida?
Here are the nine companies in liquidation, according to the Chief Financial Officer’s office.
- American Capital Assurance Corporation.
- Avatar Property and Casualty Insurance Company.
- Florida Specialty Insurance Company.
- Guarantee Insurance Company.
- Gulfstream Property and Casualty Insurance Company.
How do I file a complaint against an insurance company in Florida?
You can contact a specialist directly by telephone on weekdays between the hours of 9:00 a.m. – 3:00 p.m. ET at the statewide, toll-free number 1-877-MY-FL-CFO (1-877-693-5236). If you are calling from Out of State please dial (850) 413-3089.
What is the Department of insurance called in Florida?
The Office of Insurance Regulation (OIR) ensures that insurance companies licensed to do business in Florida are financially viable, operating within the laws and regulations governing the industry, and offering insurance policy products at fair and adequate rates that do not unfairly discriminate against the public.
How can I lower my homeowners insurance in Florida?
Here are some things to consider when buying homeowners insurance.
- Shop around.
- Raise your deductible.
- Don’t confuse what you paid for your house with rebuilding costs.
- Buy your home and auto policies from the same insurer.
- Make your home more disaster resistant.
- Improve your home security.
- Seek out other discounts.
Why is my homeowners insurance so high in Florida?
“It’s all driven by two key factors roof fraud and frivolous litigation, ” Friedlander said. The roofing schemes cost Florida insurers $1.6 billion a year, and the number of claims has been on the rise. More than 100,000 lawsuits were filed against Florida property insurers in 2021.
Who regulates homeowners insurance in the state of Florida?
| Florida Commissioner of Insurance Regulation | |
|---|---|
| Authority: | Florida Statutes, 20.121 |
| Selection Method: | Appointed by the Florida Financial Services Commission |
| Current Officeholder | |
| David Altmaier |
Who is the insurance commissioner for Florida?
David Altmaier
David Altmaier was appointed as the Florida Insurance Commissioner in April 2016 by the Financial Services Commission. He leads the Office of Insurance Regulation (OIR) and has oversight of one of the largest insurance markets in the world.
Does my age affect home insurance?
While age often impacts car insurance rates, your age shouldn’t affect your home insurance. One exception: some insurance providers may offer discounts for senior citizens. Personal factors that hold more influence on your home insurance premium often includes your credit history, claims history, and marital status.
How much is average homeowners insurance in Florida?
The average cost of homeowners insurance in Florida is $1,648 per year for a $250,000 dwelling coverage policy. This is about 19% higher than the national average premium of $1,383 per year for the same amount of coverage.