Florida's insurance crisis is threatening the closing of Gernelle Bokuniewicz’s clients for their dream retirement home in Winter Park, Fla.
that requires insurers to pay a reasonable amount of litigation fees for policyholders if they secure any amounts against the insurance company. Legislators saw this as a way to reduce insurance costs, although Floridians may face a financial burden when going after insurance companies for claims. The current owner sought reimbursement once for a toilet overflow, while the prior owner made a roof damage claim after a hailstorm and another undisclosed claim. The insurance company also found that Bokuniewicz's buyers made claims based on their washing machine hose in their old house in Massachusetts. The fact that the insurance company looked into four different claims for three separate households shocked Bokuniewicz.
"If there's room we'll certainly work with everybody," Pojero said. "But there's been times where I have to tell them, ‘I’m sorry, I can't go any lower.’" The difficulties only add to the challenging market now for buyers as mortgage rates approach 8% and prices remain elevated due to low inventory, testing affordability parameters."This is the first time in a very, very long time where you had really high interest rates, very high property values because of limited inventory, and then, of course, insurance rates are very high because you don't have enough carriers in the state," Bittman said.
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: CP24 - 🏆 30. / 67 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »