Most Dade county residents realize that Miami homeowners insurance premiums are out of control. Many local Miami-Dade politicians are starting to realize this pain that is taking over each community.
The Mayor, Carlos Gimenez is insured through the state run Citizens insurance company. He like many Miami residents has a very high deductible, $5,000, for his home in Coconut Grove, Florida.
MIAMI HOMEOWNERS INSURANCE NEWS
It is well known that
Rep. Barbara Watson has recently had to shop for a new homeowners insurance
policy because her insurance company left her to shop for a new policy because they
pulled out of Miami Gardens, Fl.
Many Dade county residents and officials of the area sat down at the County Hall this past week to review the property insurance problems that face Miami and the surrounding areas. The mayor met with house members of the Miami-Dade legislative delegation who provided him in what they are trying to accomplish in Tallahassee to combat the rising costs of home insurance in South Florida.
Many agreed that many of the proposed pieces of legislation would increase the cost of insurance for many of Miami’s citizens and surrounding areas like, Hollywood and Hialeah.
Citizens is growing to be the largest homeowners insurer in Florida. Rep Ana Rivas Logan, a Miami Republican said, “If we are hit by a hurricane, Citizens cannot sustain us.”
Floridians in general have been in great discussion regarding their increase in premiums, deductibles and quality of coverage. With Citizens taking on higher risks within the state, many are concerned that the state insurer of last resort is in such fragile financial shape, when their premiums are set very high. Please let us know what you think about Citizens and the issues that are shaping the Florida home insurance marketplace.
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