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re: Insurance rates lead to major softening of Florida Real Estate market
Posted on 3/16/24 at 1:20 pm to TejasHorn
Posted on 3/16/24 at 1:20 pm to TejasHorn
The problem is claims against insurance companies for frivolous reasons in Florida is like the auto insurance industry in Louisiana.
Stucco is cracked? They will sue everyone from the yard man to the guy who painted the inside. It's out of control. They also have a 10 year SOL (recently reduced to 7). So up to three to four carriers being placed on notice is not uncommon.
Source: Handle claims in Florida.
Stucco is cracked? They will sue everyone from the yard man to the guy who painted the inside. It's out of control. They also have a 10 year SOL (recently reduced to 7). So up to three to four carriers being placed on notice is not uncommon.
Source: Handle claims in Florida.
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