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Fort Lauderdale Real Estate | Florida Home Property Insurance
The real estate agents of the Henri Frank Group at REMAX Preferred take an active role as realtor consultants through out the processing of buying a home in Fort Lauderdale, buying a home in Wilton Manors, Oakland Park, Hillsboro Shores, Plantation, buying a property in Miami and Miami Beach. Part of the process is not only searching for a condo in the area or a home in the Broward County area, but it also includes helping the buyer understand the insurance process here in the State of Florida. As a licensed Florida realtor, we believe we need to reach out to insurance brokers to keep updated on the insuring your Florida home. The Henri Frank Group will consult with brokerage firms like Dunham Insurance in Fort Lauderdale.
Citizens Property Insurance Corp. is responding to concerns from both agents and policyholders by making changes to the process and quality of the services provided.
Public outrage from consumers regarding a $137 million increase in insurance costs caused the Citizens Property Insurance Corporation to modify it’s home inspection processes. New guidelines state that homeowners that have lost their insurance savings based on a reinspection can be given a second opinion for free. This second inspection will be geared upon validating or fixing the reportings in the first inspections.
The changes to the reinspection program also has intentions of enlightening homeowners on what they can do to be ready for a reinspection.
Citizens Property Insurance Corp. is responding to concerns from both agents and policyholders by making changes to the process and quality of the services provided. Policyholders are also being educated more on how they can project their homes and the significance of prevention methods such as protecting properties from weather damage.
Citizens Property Insurance Corp is still in the process of figuring out whether to apply the changes right away. This choice would have an effect on over 175,000 property owners who typically see an increase of over $800 in their premiums after an inspection. One of the main issues that homeowners are questioning is whether or not they can bring down the increase in premiums after inspections. There have been multiple new stories published statewide as to how massive amounts of homeowners in Florida are being hit with higher premiums after inspections as the amount of coverage offered declines.
Many supporters of Florida homeowners in this case have argued that many inspectors aren’t focusing on ways to help homeowners keep their insurance discounts and haven’t been checking attic areas effectively. Storage and insulation in attics have been one of the main causes that many homeowners lose their insurance discounts and many inspectors haven’t been accommodating enough to allow policyowners to clear attics in order for them to provide accurate inspections.
The new modifications to the reinspection process grants homeowners one full year to clear out their attics before premiums are increased or follow-up inspections are scheduled.
The original reinspection program was introduced in 2012 when Citizens Property Insurance Corp. dispatched thousands of inspectors to evaluate the homes of their policyholders.Homes that embody weather resistant features were provided discounts and as of late, inspectors have been noticing that many of these homes no longer qualified for these discounts. This led to the increase of over $137 million in premiums influxes for homeowners.
This initiative was recently put into overdrive as over 200,000 home inspections were done within the last year alone. There are still close to 90,000 pending home inspections and about 75% of the time, homeowners have been disqualified for the discounts they received in the past. These inspections have led to a roughly 30% increase in homeowners premiums. Many consumers and supporters have claimed that Citizens Property Insurance Corp. has used these inspections to justify increases in rates. Citizens has continued to deny these allegations by arguing that they’re merely trying to update the data on their policyholders.
Governor Rick Scott has been a supporter of Citizens and has voiced his opinion that the insurance firm should decrease the amount of coverage it has been providing which would lead to higher premiums and less protection for Florida homeowners.
Citizens stated that they would be evaluating their services as a whole to look for elements in which they can enhance such as customer support and communications.
Contact the HENRI FRANK GROUP at REMAX Preferred if you are interested in buying a home in South Florida. We service all of the area with specialties in Condominiums in Wilton Manors, Single Family Homes in Oakland Park, Townhomes in Fort Lauderdale and Villas in the area.
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