In my scan of the article, I did not see any mention of the rampant inflation caused by the Biden administration and the over the top government spending.
Homeowner's insurance in Texas hasn't spiked upward as much as in Florida, but auto insurance policies here are increasing more as a result of more uninsured motorists, plus replacement costs.
Another hilarious error in the article is that it referred to Social Security recipients as “fixed income”—ignoring the annual cost of living increases mandated by Congress.
We can debate whether those are adequate or not—but it is factually incorrect to state that retirees are “fixed income”.
Me neither. If it costs 50% more to fix your house, the insurance company is not responsible for the increase, bidenomics is.
Homeowner insurance has increased dramatically all over the nation. Since property in certain parts of Florida is now so sought after, perhaps tripling in value, an increase in insurance premiums is not unusual.
If it is truly a cash crunch for those on fixed income, taking advantage of the recent boon in property values, selling and moving could also be a blessing.
EC
In my scan of the article, I don't even see the words "flee" or "fleeing" -- except in the obviously misleading title.
Federal spending is not behind Florida home owners policy increases
Lots of losses due to major hurricanes and fewer companies operating in the state because of it, have driven up prices
When you are a national insurer and you realize one state is accounting for 20-30% of your payouts but only 5-10% of your revenues. Well, doesn’t take a genius to decide, we are no longer goign to write policies in that state.