A Novel Retrospective Relating To Construction


But then her insurer, United Property and Casualty, cancelled her policy anyway because of the year it was built. “You’re not going to insure me because my house is too old? Why?” Mercado said. Insurance look these up experts say it’s the new Florida reality. Many companies are now demanding repairs or not insuring older homes. The industry blames the change on massive losses that have forced them to limit their risks and only insure more secure properties. “The insurance companies in Florida are losing their shirts,” said Citizens Insurance CEO Barry Gilway. Citizens Insurance is the state’s insurer of last resort Gilway told Ulrich; Florida insurance companies suffered half billion-dollar losses since 2019. He said those losses were driven by soaring re-insurance rates from hurricane damages and big legal fees for water damage repairs.