Florida Legislature takes aim at rising home insurance rates

BROWARD COUNTY, Fla. – Florida’s real estate market is in sticker shock and we’re not just talking about house prices.

Homeowner insurance rates go through the roof, due in large part to violating the law to protect homeowners.

Years after a storm hit even near Florida, homeowners here and across the state are filing claims for damages and receiving brand new roofs that appear “free” to them, but at a substantial cost to all property owners in the Sunshine State.

“What’s happening right now is like the perfect storm,” said Mauricio Giraldo of Horizons Insurance and Finance Services in Cooper City.

He said current law allows Florida homeowners to return and file claims for damages three years after a storm.

“Right now they are still receiving claims from Hurricane Irma and Hurricane Michael,” Giraldo said.

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And even if it’s just a small leak actually caused by an aging roof, lawyers and public experts are hitting insurance companies for a brand new roof. In fact, data shows that 75 percent of Florida umbrella claims involve an attorney.

“Insurance companies can write down the losses, but in the end, of course, those who pay for them are the consumers,” Giraldo said.

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