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Insurance companies are all about risk. They weigh the odds that a home will be damaged by a flood or a windstorm, and they decide how much taking on that risk will cost. If the cost is too high, the insurer just says no to the applicant, either for the whole policy or just for the riskiest coverage. Think, for example, about the health insurer that denies coverage for a pre-existing condition but agrees to cover everything else. Or the homeowners insurance company that covers fire damage but not flood or windstorm damage.

Purchasing a home can be an exciting time in a person’s life. Owning your own property holds many responsibilities, and many homeowners take pride in their homes for good reason. Whether you bought a new construction home or a fixer-upper, there are many issues that can threaten the safety and value of your home.

A bipartisan group of lawmakers from both the House and the Senate announced last week that they have introduced a bill to provide relief to homeowners whose flood insurance rates skyrocketed on Oct. 1. The rate increases were part of the 2012 Biggert-Waters Flood Insurance Reform Act, so they were not unexpected. What surprised homeowners was just how steep those increases turned out to be.

Florida homeowners may get relief from flood insurance premium hikes after all. As we discussed a few weeks ago (start with our Sept. 24 post), the rate increases called for by the 2012 Biggert-Waters Flood Insurance Reform Act took homeowners and lawmakers by surprise. We all expected the increases to take effect Oct. 1, but, just as no one expects the Spanish Inquisition, no one expected rates to increase tenfold.

The Florida Office of Insurance Regulation is continuing to crack down on force-placed insurers. Earlier this month, the OIR entered a consent order against American Security Insurance Co. that will result in lower premiums for policyholders; the order should also result in less predatory practices by the insurer, the largest force-placed homeowners insurance company in the state.

A recent article about insurance claims reminded us of the movie “Roxanne.” Steve Martin plays the fire chief whose crew is in dire need of some training. One mishap after another leads to the scene in which an exasperated Martin exclaims, “You can’t have people with their houses burning down saying, ‘Whatever you do, don’t call the fire department!'”

The hurricane season has been much quieter than anticipated, and it’s a lucky turn of events for a number of reasons. First and foremost, of course, Florida and other Atlantic and Gulf Coast states have avoided the property damage and fatalities the come with a major storm.

Any discussion of the National Flood Insurance Program rate hikes that went into effect on Oct. 1 has certainly been eclipsed by the news of the federal government shutdown. Homeowners along Florida’s coast, though, may be tuning out news about the shutdown when they see their new flood insurance premiums.

The reforms included in the Biggert-Waters Act of 2012 were directed at making the National Flood Insurance Program more financially secure. In Florida, the arguments about fiscal responsibility and actuarially sound rate structures were merely an extension of the ongoing debate over the solvency of Citizens Property Insurance Corp. — until homeowners here started to open their mail.

Florida consumers and businesses are rallying to convince lawmakers to tackle one of the many proposals dropped from the insurance reform bill during the last legislative session. The Stronger Safer Florida Coalition is asking that the state no longer subsidize insurance for property owners who live outside of Florida.