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Rising tides may threaten South Florida real estate

South Florida is filled with beautiful beaches and large real estate developments. Many people understand that these beautiful locations are also subject to natural disasters, such as hurricanes and flooding. As ocean levels rise, many areas in South Florida are preparing for the century ahead, which scientists believe will result in a 4 to 6 feet rise in ocean levels. This could be catastrophic for many coastal areas.

As architects, planners and city governments work with people in academia to come up with solutions, many property owners in South Florida may also want to consider how rising sea levels will affect their property.

Could insurance companies cancel policies if sea levels continue to rise? What would property owners do if their property is consumed by the ocean? These are questions that will need to be answered in the years to come.

Insurance companies are constantly focussed on profits. When they believe that insuring a property would be to risky, they might choose not to insure it going forward. People often find dealing with insurance companies to be incredibly frustrating. While insurance is important for Florida property owners, sometimes insurance companies refuse to pay out claims.

Speaking with an experienced bad faith insurance attorney might be a wise decision for people who have had their claims denied. Sometimes insurance companies deny legitimate claims, even when people have made all their premium payments. This can be extremely frustrating for homeowners who want to make repairs quickly and move forward from a stressful problem.

Source: The New York Times, "South Florida Faces Ominous Prospects From Rising Waters," Nick Madigan, Nov. 10, 2013

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