The Florida Senate is moving forward with several bills that could lower property insurance costs.
Don’t miss out on these fabulous Insider Dealspromises a reduction in property insurance premiums by more than $500 million statewide. It would eliminate certain taxes and fees homeowners pay on their property and flood insurance.grants $200 million in funding to the My Florida Safe Home Program. The program provides matching grants of up to $10,000 for families while who fortify their homes with new hurricane-safe doors and windows or replacing their roof.
While it’s a modest amount of savings, Lombardo said she is “100%” on board with anything that can get her bill down. “The problem with insurance is there’s a big tail. So as of the legislation has passed, you know, it takes a little while for that to happen. There’s a lot of reasons why, but consumers don’t necessarily see those changes right away. But we are starting to see the trend go in the right direction,” Wagner said.
“The great news is that we’re not having these 50%, 60% rate increases. That has stopped and so what we’re gonna start seeing is that level or flatten and some sort of reduction. And new markets coming in is all helping the game for the consumer,” Wagner said.
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