Insuring problems for Florida?

Ok, so I tried for a pun in the title, but it just looks like a grammar error...oh well....

Why are all the "big name" insurance companies trying to pull out of Florida? Julie Patel at The South Florida Sun-Sentinel reported last week that State Farm will not be writing home owner's policies here any more as well as dropping 50,000 coastal policies. Also, she reported that Allstate has dropped about 250,000 policies and Nationwide is planning to drop 39,000.

What is up with this unwillingness to insure Floridians? Isn't that the definition of insurance? They take the risk of the weather, and we pay a lot of money every month. Are the insurance companies just being greedy, or are they really suffering and can't take the risk?

I guess as Larry King says, "you be the judge"......

www.audreybutlerhomes.com

Deciphering home insurance

Do you have questions about home insurance? If you are thinking about purchasing your first home, you may want to check out www.iii.org. The site provides questions for you to ask your insurance company and explains what factors insurance companies use when determining the cost of your policy.

As last resort, many have turned to Citizen's insurance, a state-run insurance company to insure Florida residents are covered. In the past the insurance was seen as too expensive, but recently the insurance has been touted as a cheaper alternative for some. To find out more, check out the latest article written by Beatrice Garcia from the Miami Herald:

New insurance law suddenly makes Citizens an attractive option