The Florida Cabinet voted this week to end the assessment, a 1.3 percent surcharge on policyholders, that was initiated in 2008 and had been expected to continue until 2016. State law requires an assessment whenever the Florida Hurricane Catastrophe Fund (FHCF) does not have enough cash to pay insurers for the losses they incur. The surcharge, called the “hurricane tax” by some, is used to fund revenue bonds to pay […]
hurricane damage
10 Ways to Protect Your Home Against Hurricane Damage
Hurricane season has begun, but you can still take steps to minimize the risk of damage to your home if a named storm swoops down on Central Florida this year. Here are 10 ways you can beef up your home’s protection before a hurricane approaches – don’t wait until a storm is on its way!
Can you Afford to Rebulid After a Hurricane?
Every year, hurricanes cause millions of dollars worth of damage to Florida homes and businesses. Hurricane insurance can be complicated, and laws about it have changed several times during the past few years. The important question to ask yourself is, “if a hurricane wallops my area, can I afford to rebuild my home?” For most of us, that answer is “no,” so we need to be sure our hurricane insurance […]