August 29, 2006
Homeowners Insurance Shopping Tips
Shopping for homeowners insurance is not high up on anybody's to do list, but since it is such an absolute necessity, most people do it grudgingly. However, since 2004, this unpleasant task got even more difficult in Florida. Eight hurricanes and three tropical storms have battered the state since August 2004, resulting in insured losses of about $30.5 billion, according to the Florida Department of Financial Services. News-press.com reports:
Reeling from those losses, several insurance companies have either stopped writing new policies, have told homeowners they will not renew their policies or have pulled up stakes and left the state altogether. "There is not a lot of good news at this point to share," said Tami Torres, spokeswoman for the financial services department. "We are hearing from consumers who are struggling to find coverage."
Read more: Obtaining insurance requires diligence
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