The High Price of Living in Paradise
By: Source: AARP.org Date Posted: 2007-05-21 16:37:31.136156-04:00
Florida's 2.8 million AARP members—along with everyone else in the state—have been shocked by the rapid increase in hurricane property insurance rates since 2005. In many cases, insurance costs have tripled or quadrupled. Hundreds of thousands of homeowners and businesses have had their policies dropped as insurers scrambled to cut their potential losses in Florida.
Floridians 50+—especially those living on fixed incomes—have faced real hardship as insurance rates skyrocketed. To help you understand recent action on insurance issues and find tools that might reduce your insurance bill, AARP Florida has prepared a special edition of Florida Update specifically on hurricane-related property issues.
Among the stories in the Summer 2007 edition:- After facing outraged voters in November 2006, lawmakers and Gov. Charlie Crist pressed hard for landmark insurance reforms in a January 2007 special session. The good news — your rates may not be going up, especially if your insurance is from the state-run Citizens Property Insurance Corp. Lawmakers cancelled two big planned Citizens' rate hikes.
- Private insurers mostly have proposed rate cuts well short of legislators' predictions. Legislators followed up with more insurance reform in the regular legislative session in May 2007, but many Florida homeowners have yet to see big rate reductions.
- Disgusted with the settlement offer you're getting from your insurer? Hire your own insurance adjuster to bolster your claim to a fairer settlement! AARP Florida shows you how to hire a public adjuster.
- Have you accepted an insurer's settlement check but later found more damage? You can file a supplemental insurance claim to help cover repair costs. AARP Florida shows you how.
- Fighting with an unlicensed or sloppy contractor? AARP Florida steers you to the only state agency charged with the power to regulate state contractors.
In addition, this edition of Florida Update also alerts you to AARP Florida's efforts to spark a statewide conversation on how to make Florida's long-term care system better. If you're a caregiver who has struggled to provide care for a frail loved one, this edition of Florida Update shows you how you can add your voice to thousands of others to improve our system of caring for frail older people.
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