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Will Lawmakers Tackle Pricey Insurance Costs?

As Florida homeowners deal with the eye-popping rate hikes to extend their insurance coverage, state lawmakers are increasingly being put under pressure to do something about it.

Homeowners are facing potential premium hikes as high as 30% to 40% for their upcoming insurance policy renewal. According to the source Sun-Sentinel article, insurance insiders are hoping the dismay over such increases will push the Florida Legislature to enact legislation aimed at addressing the considerable litigation costs once the 2021 legislative session rolls around next year.

Insurers will be in the legislature meeting with partners. The question is are they going to have enough votes to bypass lawmakers who are faithful to lawyers who want the status quo to be maintained? Lawmakers who advocate insurance market stabilization are optimistic.

Some of the areas that could be up for discussion and change may include abuse of coverage to take care of roof leaks and replacement, inflated claim costs by public adjusters and “loss consultants”, and lengthy deadlines to file claims for non-weather and hurricane claims.

This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys or a Miami insurance claims attorney and receive a free consultation We look forward to working with you.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.