Reform needed to make property insurance market healthy

Ronald R. Assise

Please call Lee from USAsurance Powered by WeInsure. 954-270-7966 or 833-USAssure at the office. My email is lee@myUSAssurance.com . I am Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance, Mortgage protection, Financial Products, Business & Commercial Policies, & Group Products for business owners to give Employees benefits at no cost to the employer.

Home insurance is not a warranty policy. It is intended to make you whole again after you experience sudden and/or accidental damage to your home. Unfortunately, some unscrupulous contractors are promising “free” roofs to Florida homeowners for “damage” that is simply wear and tear.

There are some trial attorneys who file lawsuits for this “damage.” They’ve created a toxic environment that has driven Florida’s property insurance market to the brink of collapse and caused rates to skyrocket. Nine Florida Insurance carriers have become insolvent in two years.

Sounds bleak, but because this is a manmade crisis, it can be fixed. We need legislative reform for the following changes:

Repeal the one-way attorney fee statute.

Address the fallout caused by the 2016 Sebo ruling. Unscrupulous contractors use this ruling to get a “free” total roof replacement for their customers.

Allow insurance companies to offer a roof value schedule in their home insurance policy: Just as vehicles depreciate due to wear and tear, so does a home’s roof.

Let’s hope legislators will address all the issues that have led to this crisis, so we can finally make the market viable and healthy again.

The Home Insurance Guru