If we have learned nothing else from all the news coverage of Healthcare.gov and rollouts of state health insurance exchanges, we have learned that most health insurance policies renew on January 1. If our health insurance is part of an employee benefit package, we probably renew our life and disability insurance at the same time. It’s routine.
Living without health insurance is like living life on eggshells. There really is danger lurking around every corner, a slip in the grocery store, a car accident or even a trip on a toy that sends someone down the stairs. Each of these could result in some massive medical bills that can be as damaging as any bodily injury.
Floridians received some bad, but not unexpected, news last week. According to the National Association of Insurance Commissioners’ recent report, the state has the highest homeowners insurance premiums in the country. At $1,933 (in 2011, the most current year available), the average rate here is almost twice the national average.
The National Association of Insurance Commissioners released its annual homeowners insurance rate report last week. Floridians will not be surprised to know that our average rate of $1,933 is the highest in the country — almost twice the national average and about four times as much as the lowest ranking state.
Last week the community of Newtown, Connecticut, solemnly commemorated the anniversary of the mass shooting at Sandy Hook Elementary School. Florida residents were just as shaken as the rest of the country by the events that unfolded that day, one that will probably never leave the hearts and minds of the people directly affected by the tragedy.
We are discussing the various efforts under way to address the flood insurance rate hikes brought about with the implementation of the Biggert-Waters Flood Insurance Reform Act of 2012. In our last post, we talked about a couple of proposals in Congress, neither of which, it seems, will pass before the end of the year.
The Battle of Biggert-Waters rages on. The state of Florida is fighting on a number of fronts to halt or to mitigate the premium increases that homeowners are facing under the Biggert-Waters Flood Insurance Reform Act. So far, homeowners have not gained much ground.
Families in Florida might be growing extremely frustrated with insurance claims as many families are trying to seek compensation for repairs caused by sinkholes. Sinkholes aren’t uncommon in Florida, and many homeowners are facing a difficult time getting their problem resolved.
We are circling back to our discussion (starting here) about a small town (not in Florida) that learned in October that its insurance company would be canceling coverage for the town’s police department — both personnel and vehicles — in mid-November. The town council asked six insurance companies for quotes. Just a few days before its coverage lapsed on Nov. 19, the town received the lone bid for its business.
Floridians are no strangers to bad weather. Our location makes us a prime target for hurricanes, year in and year out. Damage from windstorms and other catastrophic events can lead to large numbers of insurance claims. Fortunately, the last several hurricane seasons have been rather quiet.
