03-15-2024, 04:05 PM
Also a massive inventory of new condos recently built or being built.
Insurance rates have peaked and at least 6 new companies have applied to enter the Florida insurance market, they will start writing probably on November 1st 2024 after storm season ends.
Desantis has done several steps to reel in rising insurance rates 1) set up a $2 billion reinsurance fund to lower the cost of reinsurance to insurance companies 2) banned the practice of assigning benefits to others. Where a homeowner filing a claim assigns benefits to a contractor or lawyer, who promises to fix the damage but then sues the insurance company for as much as they can. That's over and 3) no more filing claims years after a storm. You have 24 months now. Again, end the gaggles of lawyers doing "home inspections" and filing claims for 3, 5, 8 years after a storm passes.
Now interest rates for loans is still a big issue
Insurance rates have peaked and at least 6 new companies have applied to enter the Florida insurance market, they will start writing probably on November 1st 2024 after storm season ends.
Desantis has done several steps to reel in rising insurance rates 1) set up a $2 billion reinsurance fund to lower the cost of reinsurance to insurance companies 2) banned the practice of assigning benefits to others. Where a homeowner filing a claim assigns benefits to a contractor or lawyer, who promises to fix the damage but then sues the insurance company for as much as they can. That's over and 3) no more filing claims years after a storm. You have 24 months now. Again, end the gaggles of lawyers doing "home inspections" and filing claims for 3, 5, 8 years after a storm passes.
Now interest rates for loans is still a big issue