Florida Governer Jeb Bush signed a property insurance bill Tuesday that allowed insurance companies a much less regulated reign on wind damage compensation in order to promote the survival of insurance companies in the state after the Katrina damages. While this may all be well and good for the companies, those victims left over from Katrina and the rest of the Sunshine State suffer from soaring insurance rates and an increase of cancelled policies. State Farm announced its plan to raise insurance rates throughout Florida by almost 60%, while Allstate is looking forward to dropping 174,000 policyholders entirely.
This bill will be devastating to the homeowners of Florida, despite attempts to soften the damages such as a program which gives grants to aid homeowners hurricane-proof their homes. With such a disaster-prone state, raised premium prices aren’t going to be a help for the vast majority of Florida residents and those left abandoned by such insurance companies are going to be virtually out in the dark.
If you or someone you know has been injured by bad faith insurance, don’t stand by and let matters sit idly. Contact a personal injury lawyer such as Hull & Zimmerman in Denver, Colorado today to schedule an appointment or answer any important questions you may have.
