Florida Personal Injury Blog
FLORIDA HOMEOWNERS SET TO FACE SOARING INSURANCE RATES
In Miami, the Real Estate Lawyers at the Perazzo Law Firm, share information on rising home owner insurance rates expected to hit home soon; expected to double by 2023.
Florida homeowners and property owners are expected to face an insurance crisis as rates are rising so high that many stand the chance of not being able to obtain an insurance policy with which to help cover losses from hurricanes, storms, fires, or any other event that results in damage to their property. Among the most common homeowner woes are leaky roofs, busted pipes, and electrical installations, all of which require the assistance of professionals to fix the problems. Sadly, these professionals are expensive and without homeowners insurance to help cover the bill, the problem may not get fixed as many homeowners will be unable to afford them. Claims for hefty repair bills usually end up in court years later, which involve lawyer fees as well as court fees. Insurance companies for their part, claim that they have lost billions in 2020 due to fraud on behalf of contractors and damage caused by adverse weather conditions. For example, the most recent destructive hurricanes to pass through South Florida resulted in tens of billions in payouts, which has prompted insurance providers to seek insurance rate increases ranging from 10%-35%, as well as restrictions on coverage in order to help offset their losses. These new measures will greatly impact the middle and upper-class property owners, but are expected to exclude those homeowners who have older properties and those in areas of high criminal activity. The insurance companies are also looking for State legislators to pass a vast number of bills to lower fraudulent contractors, detect adjustors that do not have a license, and lower property damage attorney fees.
HAS YOUR HOME BEEN DAMAGED BY A STORM?
In Miami, hurricane and storm damages can hurt you financially and emotionally. Hurricane damage such as flooding and electrical shortages can also endanger the lives of those in the house and be devastating to any family. During hurricane season, the lawyers at Perazzo Law in Miami, recommend that homeowners know their rights when hurricane or storms cause damage to their property or injury to household members. Suffering any damage to ones home can be difficult when your insurance claim is denied even though it should otherwise be a covered loss. The best solution for preventing property damage is preparation prior to a severe tropical depression or hurricane. In anticipation of any damage to your home, we recommend planning ahead by setting aside your policy, contact information for your insurance company and adjuster, a qualified repair specialist for any type of damage that may occur (i.e. plumber, roofer).
If you, a friend, or relative has suffered property damage and need help filing a property damage insurance claim, in Miami, the staff at the Perazzo Law Firm is ready to help you recover your losses.
Contact the Perazzo Law Firm’s Miami-Dade offices ONLINE now, for a FREE initial consultation and ZERO OUT-OF-POCKET FEES to clients.
THE PERAZZO LAW FIRM – DEDICATED TO PUTTING YOUR INTERESTS FIRST!