> Pricey premiums & dropped coverage: New Floridians face same old home insurance woes
Pricey premiums & dropped coverage: New Floridians face same old home insurance woes
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Roughly 1,000 people move to Florida every single day, whether for work, the weather, or a way of life. As soon as they get here though, the ones buying homes or condos realize another thing that comes with Florida living — expensive premiums and persistent problems with property insurance.
“I have owned homes in Maryland. I've owned a home in Virginia. Now owning a home in Florida, this is the most difficulty I've had trying to get insurance,” Steven Matutat said.
Matutat is fairly new to Tampa Bay, moving to the area last year for work and closing on a home with his family in December.
“Maybe like 45 days into owning my new home, I was hit with a cancellation notice from my insurance company,” he explained.
What a welcome to Florida…“The only notice I got was it was in disrepair, didn't meet their standards is what I got from my insurance agent,” he added.
He said his inspection was fine when he bought the place and now he’s shopping for a new policy, which he knows will be more expensive than he’s used to. He’s also not seeing some of the familiar names he used to insure with, as some have left the Florida market altogether.
“I'm probably paying about double, almost triple in some areas,” Matutat said.
It’s a battle facing homeowners across the state, paying more or trying to find coverage altogether. Just this week, some Tampa Bay homeowners received notice from Progressive that their policies were not being renewed.
MORE: https://www.wtsp.com/article/news/local/pinellascounty/premiums-home-insurance-florida/67-2ba8a470-fda3-43c5-8b54-751f9c165557
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