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Most expensive state for home insurance: Florida

According to a new report, Floridians are paying four times the amount in premiums for homeowners insurance than people in the lowest cost state. That makes the premiums in Florida the most costly in the country.

This isn't a distinction that many in Florida are rejoicing about. The report found that Florida homeowners pay on average $1,933 for their homeowners insurance premium. This is twice the national average, and is causing a strain on families throughout the state. Not only is it frustrating to have to pay such high premiums, but it is also frustrating when many homeowners pay these high premiums only to have their claims denied when they need their insurance most.

The data released by the National Association of Insurance Commissioners might leave some who are contemplating property purchases in Florida reluctant to buy.

While many Floridians are paying large premiums, insurance companies have avoided large payouts in recent years as hurricane seasons have been relatively calm. This means larger profits for insurance companies, and less money in the pockets of homeowners.

Homeowners insurance is essential, even though many people may never have to file a major claim. Once a person does need to file a claim, they are often glad that they had insurance, except when legitimate claims are denied. Insurance companies may frequently deny real claims to try to save money and increase their profits. This can leave a homeowner completely empty-handed and unsure of whom to turn to for help. An experienced Florida attorney can help with denied insurance claims to help enforce a purchased policy.

Source: The Gainesville Sun, "Florida most expensive in nation for home insurance," Zac Anderson, Dec. 17, 2013

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