MIAMI (CBSMiami/AP) -— Florida records show home insurers have dropped the policies of more than 87,000 homeowners in the third quarter of this year.READ MORE: CBS4 Exclusive: Hit-&-Run Victim Says Insurance Company Denied Claim Despite Police Report From Incident
The Palm Beach Post reports that state records also show half of the state’s top 10 property insurers served fewer customers at the start of October than they did a year earlier.
Adding to homeowners’ woes, the state’s last-resort insurer, Citizens Property Insurance Corp. has proposed an 8 percent premium increase for 2019.READ MORE: South Florida Lawmakers Calling On Governor To Reconsider Plan To Send Law Enforcement Resources To Border States
Hurricanes Irma and Michael generated more than $15 billion in claims in Florida in the past two hurricane seasons.
Besides the hurricanes, Citizens officials cite “the impact of skyrocketing non-weather-related water loss claims in South Florida.”
Florida ranks No. 1 in home insurance costs. An average premium is more than $2,000, nearly double the U.S. average.MORE NEWS: Tropical Storm Warning Issued For Northern Gulf Coast Ahead Of Potential Tropical Depression Three
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