ron johnson insurance

In January of 2007 Florida passed a new insurance bill hoping to lower property insurance costs. Although this bill lowers insurance costs for Florida residents, if a Catastrophic hurricane hit, it could cost the state billions of dollars just to recover.

The Bill was introduced to the enormous increase in the cost of insurance for people at home in Florida since 2004 and 2005 after suffering the damaging hurricanes, they have, especially those who live on the coasts. Many have seen not only twice the cost, but some have even triple the insurance at home.

Although this law is a large number of homeowners some relief, how much relief remains unanswered. It is estimated that anywhere from 5 percent for many inland customers to 20 percent for the others are covered by the bill, especially on the coast. But it is not yet determined when residents will be a saving of this Act.

With this law now in force, securing private insurance more insurance, which in turn lowers prices for consumers. The state is the majority of the responsibility for which payment of the Hurricane Catastrophe Fund in the event of a damaging storm, in fact, the risk the insurer is greatly reduced. This means ultimately there is no need for insurance companies to provide prices for consumers.

Since the backup coverage for insurance will be cheaper than the private reinsurance that most companies buy them immediately its biggest parts of a cost that ultimately the consumer.

Consumers are also able to reach her under this Act. However, if a homeowner still owe a mortgage on her house there is a very strong possibility that many of the changes are not available, since mortgage lenders generally have requirements for home to preserve.

But how many people are comfortable with this law? According to a recent poll by Quinnipiac University from 29th January 2007 to 4 February 2007, it appears that a majority seem to favor this bill. Sixty-two percent of the population approves of this new Florida law, while 14% opposed and 24% have no opinion either way.

All in all, this law was to raise money in the pockets of Florida residents rather than into the pockets of the insurance. Over the next year we will be able to determine whether this law really is a Florida resident's dream or a political mistake, which the taxpayer money.

Calum and Kathy MacKenzie are experienced and professional Tampa, Florida real estate agent specializing in the support of families relocate to Tampa area. They've lived and worked in New Tampa for eleven years, and their extensive knowledge of New Tampa real estate can help make relocation easy.