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MAMI Insurance keeps you informed

April 15th, 2011 · No Comments

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Are you a property owner in South Florida? If so, you need to be aware of discussions going on to possibly raise property insurance premiums. Recently, the Sun Sentinal published an article about this insurance issue that has everyone buzzing. Here’s the link for you to read directly – http://www.sun-sentinel.com/business/fl-property-insurance-laws-20110413,0,293333.story

In the meantime, here’s an excerpt from the Sun Sentinal article that discusses Citizens Property Insurance.

Raises Citizens premiums

Customers of Citizens Property Insurance would see premiums rise up to 15 percent or 25 percent a year, depending on whether a House or Senate bill prevails. That means a $1,000 premium could increase by 75 percent or 144 percent in four years because of compound interest.

Current law caps annual increases for policyholders at 10 percent.

The bills, HB 1243 and SB 1714, also would bar the insurer from accepting policyholders who can find a private insurer that charges up to 25 percent more and allow Citizens to drop policies for homes that cost $500,000 or more to replace. The Senate version, which allows fewer policyholders to be dropped, will be taken up by a final legislative panel on Friday. The House version faces a vote by the whole chamber.

It’s difficult for the consumer to stay up to date with the politics, laws, and regulations surrounding the insurance industry. That’s why having a direct relationship with an insurance agent and broker in your area to the best solution. We at MAMI Insurance in Aventura pride ourselves on client communications. We are always available to answer questions relating to the insurance industry commonly revolving around – health insurance, homeowners insurance, auto insurance and of course insurance premiums.

In addition to being a full service insurance agency, MAMI Insurance has experience in working with South America clients regarding shipping container insurance, homeowners insurance, and other speciality policies important to International clients.

Feel free to call us anytime or visit our website MAMI Insurance – Insurance Aventura.

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