The Insurance Information Institute (Triple-i) has released a damning report which has warned that Florida’s current homeowners’ insurance market is “on the verge of failure,” thanks to rampant fraudulent roof repair schemes and excessive insurance litigation.
Triple-I found that thanks to the “manmade catastrophe” of fraudulent roof repair and overabundant insurance litigation in Florida, the annual cost of an average homeowners’ insurance policy in the state is skyrocketing to $4,231 in 2022 – which is almost three times more than the US annual average of $1,544.
