Escalating Property Insurance rates and cost-of-living are the two biggest challenge Floridians face currently (I’d argue the biggest challenge Florida as a state faces is around water resources and Climate Change). This past legislative session, we’ve seen every performative social issue imaginable addressed by a right-wing legislature, while the real issues were ignored.
As we have talked about repeatedly about, Governor Ron DeSantis is the nation’s premier pay-to-play politician. If you contribute generously to his campaigns or political committees, he will look out for you. It appears per this report from The Intercept, that DeSantis has raked in close to $4 million from the insurance industry. This helps explain the Governor’s fealty to the industry.
Here’s how DeSantis’s loyalty to the industry over ordinary citizens has impacted Floridians:
- Floridians are paying the highest rates in the nation for property insurance, more than three-times the national average. In 2022, Floridians paid an average of $4,231 for home insurance and potential increases of 20 to 25% are possible this year.
- Making it easier for property insurance companies to shift more costs to homeowners, and delivering a $2 billiondollar taxpayer-funded bailout to property insurance companies.
- Shielding insurance companies from lawsuits when they fail to pay out claims owed to homeowners.
- Property insurance companies aggressively reducing payouts, some by anywhere from 45 to 97 percent, and refusing to cover property damages, leaving Florida families with homes still unrepaired from Hurricane Ian.
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He needs to be impeached. Floridians have been sacrificed at the altar of his presidential ambitions!!
rabble rousing nonsense. People who have been following the real insurance news know that property insurance in Florida lost over $1 billion per year for each of 2019, 2020, and 2021 — that’s before last year’s hurricanes. It follows that either laws must be changed to reduce assignment of benefits and attorneys’ fees or your rates must continue to soar. Insurance is not a charity. While I dislike DeSantis, the changes to insurance law were long overdue. As for failure to pay and fraudulent underpayment by insurers, those are still subject to successful lawsuit and attorneys’ fees.