By - Press Release
Category - California Vacation Packages
Posted By - Hampton Inn Santa Clarita
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| California Vacation Packages |
It's been nearly eight years since a hurricane caused widespread damage in Florida, but rates for homeowners insurance have still been climbing. With hurricane season starting Saturday, authorities say there's a chance rates may finally stabilize. Some homeowners say they feel like they're being eaten alive by insurance premiums, and they want some relief. Florida's Office of Insurance Regulation has been approving more than 100 rate hike requests a year since 2009, including requests to hike rates by double-digits. "It's really high," said Chuck Taylor. Chuck Taylor and his neighbors in Garcon Point say they've had no choice but to keep shelling out big bucks for insurance. "If you live down here, you have to have your house up elevated when you rebuild and then you pay flood insurance. Flood insurance doesn't cover any of that, so you're paying insurance twice," Taylor said. This year's hurricane season could determine how much homeowners pay. Florida's Insurance Commissioner Kevin McCarty says there's a chance rates may finally even out, if no major storms come our way this year. Taylor is skeptical of that prediction. "I really don't see it going down that much," Taylor said. His neighbor, Judy Wagner, however, has a different perspective. "There are storms other places, too. And I mean, the insurance companies are paying for those. You know, you have to pay for where you live," said Judy Wagner. The state-run Citizens Property Insurance Corporation, meanwhile, is expected to ask for rate hikes for 2014.
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