What is Happening to Home Insurance Rates in Florida?

  What is Happening to Home Insurance Rates in Florida? Let’s address the elephant in the room: home insurance rates in Florida are increasing without an end in sight. You might be wondering why you’re paying more to insure your home even if you’ve never filed a claim. The answer might surprise you. Sure, Florida experiences major weather events from hurricanes to hail storms and tornadoes. However, these natural disasters are not the main reason the home insurance market is struggling. The cause lies within the ongoing battle against Assignment of Benefits.  What is Assignment of Benefits? Assignment of Benefits (AOB) is a contract that transfers a policyholder’s right to a claim over to a third party person, such as a contractor. Property owners often sign this innocently without fully understanding what they are agreeing to. Once an AOB is signed the third-party can request payment from an insurer on behalf of the policyholder and even file a lawsuit against the carrier. This has le

The Claim Process

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