There is barely enough money for 1 storm in 1 Hurricane season and what if we have 2 storms???? If Florida, which will affect Fort Lauderdale and all of Soouth Florida worse, could see more major rate hikes soon as the Federal plan is just not likley. The Florida Cat fund may need to lower it’s exposure by 5 billion or more per storm and if that happens then all of the carriers will be required to get more expensive reinsurance form the private carriers (Like Warren Buffet’s company, among other’s). These increases will hurt the Real estate recovery in Florida as rates have been on the rise since Governor Rick Scott has come to office and even before that as well. When our Legislators meet in session soon, this will be a big topic and no National resolution could possibly come that fast. For a National plan to work, we already know that the President (Obama) must endorse the program for any hope and that is not likely as about 20 states have no interest at all to help the other’s. Please read the article below and please call L & S Insurance at 1-888-244-7400 for all quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.
January 18, 2013
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August 30, 2012
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The Florida disaster fund already exists and will need some funding as well. Governor Scott is asking the state to release money and also asking everyone to pitch in and help those hurt by the Tropical Storm/Hurricane Isaac. Palm Beach county was hit pretty hard and Citizens already had over 750 claims as a result of the storm and it is still early.Fort lauderdale has jad some damage, but Palm Beach does seem to be worse for sure. For a relatively weak storm, the damage was fairly moderate, but the response teams worked well. Please read the full article below and also call L & S Insurance at 1-888-244-7400 for all of your quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.
August 22, 2012
When you click on this link you will get the current track! Please call L & S Insurance for all of your Home, Auto, Business and Commercial, Flood, and even Life Insurance quotes at 1-888-244-7400
July 17, 2012
Citizens Insurance wants to reduce it’s size by 500K in the next 3 years in Fort Lauderdale and all of Florida.Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Hurricane Updates | Tags: Auto Insurance, Car Insurance, Citizens, Flood Insurance, Florida, Fort Lauderdale, Home, Homeowners, Hurricane, Insurance, our partners at www.1ststate.net |
On the East coast of Florida, you should not see as much happen, but if you are west of I-95 in S. Florida, Citizens will try to get rid of your policy soon.All those in Fort lauderdale and all over S. Florida are at risk for this change. It is only a question of time that this was destined to happen and this will make Citizens and it’s slush fund and Bond issue in a much better financial situation if it can happen before the next hurricane hit’s Florida. We have already had 2 storms out of 4 Hit Florida this season already and we are only in Mid July so watch out. The plan is in motion and will continue for several years so try to leave Citizens if and when you can. Please call L & S Insurance at 1-888-244-7400 for a quote on Home, Flood, Auto, Business & COmmercial and Life Insurance as well.
June 5, 2012
Please watch the news clip from local 10.com and the report by Glenna Milberg about Citizens Insurance, price increses coming, and Governor Rick Scott’s wishes to clean house by 50% in the next 2-3 years. Please call L & S Insurance(1-800-244-7400) for Home, Auto, Business & Commercial,Flood, and even Life Insurance quotes.Fort Lauderdale and all of S. Florida are the most heavily affected and the rates will rise big aagin next year plus all of the inspections are being done. We only hope that Hurricane season does not make it worse this year.
May 29, 2012
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Here are all the updates for the Jacksonville landfall of the first storm to hit Florida in years and Jacksonville in about 100 years. The best part is that Hurricane season has not even started and we have had 2 named storms and a funnel(Tornado) already. With winds at 70MPH and lot’s of rain Jacksonville also has 20K without power. Welcome to our world Jacksonville and we wish you all well. PLease read about the storm and it’s track below. Please call L & S Insurance at 1-888-244-7400 for Home, Auto, Flood, Business & Commercial and even Life Insurance quotes.
May 18, 2012
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This summer will be a battle w/ lot’s of new current info coming by July. Once it has all been reviewed the 56% rate hike can be substantaited or not. Critics are trying to stop the increase, but the State of Florida does not want and cannot afford all of the issues of a Hurricane if they do not have enough money. Hurricane season is just around the corner and another big season is expected so the situation in Florida is still likely to get worse. Please read the full article and remember to call L & S Insurance(1-888-244-7400) in Fort lauderdale for all of your Insurance quotes for Home, Auto, Business & Commercial, Flood and even Life.
January 18, 2012
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How do you like being w/ an Insurer who says go away, I do not want you anymore. This is like a bad Girlfriend and will hurt. My prior posts will explain what Citizens is trying to do until Legislative change occurs in 2012. By order of Governor Rick Scott and CFO Jeff Atwater, Citizens is doing everything they can to make your experience a bad one and to raise prices as well and any way they can including new Mitigation Inspections to raise additional premiums. Private Insurer’s need to come back to the marketplace and depopulations will need to get back into high gear to make this happen. Citizens has nearly 1.5 Million policy holders and they want this reduced by 50% or more soon. Hurricane season is just around the corner so the activity is hot and heavy while the Legislators in Tallahassee & are in session to make this happen and quickly. Please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial, and even Life Insurance coverage.
December 7, 2011
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Lot’s of changes will be occuring, but the thought is that the affect may not be so great. There are lot’s of changes that can and should be made, but is requires the Legislators in Tallahassee to do it. This year will have Re districting as a big issue and then Home Insurance issues and PIP Fraud will be major Highlites. Personally, I do not see Legislators in Fort Lauderdale or any other area voting for the real change that is needed. This change would be significant premium increases like 25-30% statewide averages! That could mean 50-60% here in Fort lauderdale and S. Florida. People do not get re-elected voting for things like this so then an assessment may become the only option before Hurricane season really starts June 1,2012. Please read the full article and be fully informed or call L & S Insurance for all your Insurance needs like Home Insurance, Auto, Business and Commercial, Flood and even Life Insurance as well. Please enjoy the article below;
November 14, 2011
Will it shrink or will it grow now!!!!! Not a bad song, but Governor Rick Scott wants it to shrink and bigtime. The Citizens committee will be discussing ways to make this happen and the deadline is for 11/30/2011 so the Board of Ctizens can move on the recomendations of the committee. The Gvernor wants the plan in full motion before hurricane season starts in June 2012. The options are raise rates much more, reduce coverage’s, but do not reduce the price,raise all of the coverage’s on the building to increase premiums, continue to do new Mitigation inspections to remove doscounts from policy holder’s and of course the Florida surcharge which could be up to 45% of the preium they are paying.All of these are likely to happen in many parts of florida especially Fort lauderdale and S. Florida. For all of you in Citizens, try to go now while you can as if that surcharge hit’s then it will follow you to a new carrier and that will be complicated at best. Please read the story by Julie Patel of the Fort Luderdale Sun Sentinal and please call L & S Insurance to try and get you out of Citizens now, why wait. We do all types of Insurance including, Home, Auto, boat, flood, Business and Commercial and even life Insurance coverage.