JACKSONVILLE, Fla. – The News4JAX I-TEAM is hearing from property insurance agents, lawyers and property owners about what they want to see come out of a special session called to deal with Florida’s property insurance crisis.
“I have some customers right down in tears, honestly, and we do everything we can to get the premium down,” insurance agent, Matt Carlucci, Jr. said. “But unfortunately, sometimes everywhere you look, it’s a shut door.”
Carlucci Jr. says one of his customers insurance premiums went from $2300 a year to more than $9200 annually. News4JAX Insiders are also weighing in
Garth writes: “My rates went up 50%. It’s due again in July so I wonder if my premium will rise again.”
Florida’s crisis has been fueled by home insurance fraud and out of control litigation costs. Another major contributor is the billions of dollars in losses from recent natural disasters. It’s led to three insurance companies leaving the state of Florida in the past three months.
Another hurricane season is weeks away and insurance agents are hoping legislators can find a quick fix.
″My hope is that the legislature will require insurance companies to apply actual cash value coverage to roofs once they hit a certain age,” Carlucci Jr. said. “I think what that will do is to deter roofers from pursuing a lot of these routes.”
Carlucci Jr. also said he’s hoping lawmakers pass legislation that will take away the incentives for roofers and their attorneys to pursue litigation, limiting what roofers and their attorneys can and cannot do.
Governor DeSantis said the state of Florida itself, accounts for 79% of the entire nations homeowners insurance lawsuits.
Farah and Farah attorney, Andreas Study, is calling for legislation that protects the people of Florida, who are paying exorbitant premiums just to keep their homes insured
″I’m worried that coming out of this special session, we might find laws that aren’t necessarily consumer friendly,” Study said. “And I hope that our decision makers can put together some legislation that is friendly to the consumer, but also gets the job done and creates a healthy insurance market.”
The Governor has set aside May 23 through May 27 for this special session. The session however will NOT include condominium reforms or condo insurance issues.