Insurance

Citizens Property Insurance policies continue to be significantly underpriced compared to private carriers, the company told state regulators. The insurer of last resort in Florida isn't meant to be competitive. But if it were, its average premium for regular homeowner's insurance would have to almost double.

Despite widespread flooding, it said the location of the storm’s landfall prevented more extensive wind damage.

Tens of thousands of federal flood insurance policy holders in Cape Coral, Fort Myers Beach and unincorporated Lee County will continue to get steep discounts on its premiums, the city of Cape Coral and Lee's government announced Friday.

The program offers inspections and grants up to $10,000 to help residents upgrade homes and qualify for property-insurance discounts for residences valued up to $700,000.

Home and auto insurance premiums have been rising at double-digit rates. That's prompting even the most loyal insurance customers to shop around for better deals.

“The bad actors and scam artists will swoop in and try to take advantage of people at their most vulnerable time."

Heritage Property & Casualty Insurance Co. has agreed to pay a $1 million fine after a state review found it violated claims-handling requirements following Hurricane Ian, according to an order signed Thursday by Florida Insurance Commissioner Michael Yaworsky.

Lawmakers increased funding for the My Safe Florida Home grant program by $200 million and will now prioritize older and low-income homeowners.

Gov. Ron DeSantis on Wednesday approved $200 million to continue a popular home-hardening grant program that could help about 20,000 mostly low- and moderate-income residents cut property-insurance costs.

Housing costs, insurance and rent are some reasons why retirees are going back to work out of necessity.

Florida insurance companies made money last year for the first time in seven years. That is thanks to investment income and a mild hurricane season. That's according to an an S&P Global Market Intelligence analysis released last week.

This week on The Florida Roundup, we discuss a proposed federal bill to lower property insurance rates, concerns on Capitol Hill over Citizens, possible changes in real estate commissions and its effect on Florida realtors, this week's elections, an update on the turmoil in Haiti and its impact in Florida, why some state universities are giving students more time to decide, and March Madness meets spring training.