According to their survey on the most expensive states for homeowners insurance costs, Forbes magazine ranks Florida number six in the country. The survey is based on the National Association of Insurance Commissioners most recent study of insurance premiums, drawn on 2005 data due to lags in state reporting procedures.
Multiple factors are used in the analysis, not necessarily just the threat of a single disaster. Hurricanes, tornados, and floods make the headlines, but hail and wind cause more damage on average. Building costs are another important consideration. Insurance typically pays out at replacement cost (the amount it would take in labor and materials to replace/rebuild the property) and the rising costs of such items are eventually reflected in the costs an insurance company must pay for repairs. Accordingly, states where Mother Nature is usually unkind tend to have the highest average annual insurance costs.
Tags: Florida, homeowner insurance
Just recently, Florida Agriculture and Consumer Services Commissioner Charles Bronson (gotta love his name - how apropos) announced taking legal action against a Sarasota County company for violating the State Do Not Call law. The legal action seeks an injunction prohibiting the offending company from making any future calls to residents on the list and fines of up to $10,000 for each of the calls made to the prohibited phone numbers is possible. Commissioner Bronson said “the message is that this activity will not be tolerated.”
