AAA says it won't renew a small percentage of homeowner and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State.
it was discontinuing new coverage of auto, home and umbrella policies in Florida, joining a long list of insurance woes to hit the Sunshine State recently.
Seven insurers have been declared insolvent in Florida since early 2022. Average annual property insurance premiums jumped 42% this year to $6,000 in Florida, compared to a national average of $1,700. About 15% of homeowners in the state didn’t have property insurance, compared with the national average of 7%, according to the Insurance Information Institute, a research organization funded by the insurance industry.
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AAA dropping some Florida property insurance policyholdersAAA said it is dropping insurance coverage for some in Florida due to rising costs from hurricane activity.
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After devastating 2022 hurricane season, AAA not renewing some insurance policies in FloridaAAA says it won’t renew a small percentage of homeowner and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State
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After devastating 2022 hurricane season, AAA not renewing some insurance policies in FloridaAAA says it won’t renew a small percentage of homeowner and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State.
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Another Insurance Company Halts Florida Home Policies Amid Worsening StormsAAA cited last year’s “catastrophic hurricane season” in its decision to start limiting some of its home insurance policies in the Sunshine State.
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