Florida real estate

If you live in Florida, it’s important to understand what’s been happening with property insurance here. As of January 1, 2023 several big changes went into effect following special legislative sessions. These sessions were called to address the property insurance premiums rising across Florida. A Little Background First, let’s talk about some of the things that make Florida a unique market for property insurance. Our geography sets us apart from the rest of the continental U.S. No other place is as likely to receive significant damage from hurricanes and tropical storms. Since 2017, the frequency of heavily damaging storms has increased statewide (even if we’ve been relatively protected here in Miami). As a result, insurance companies have paid out significantly […]