Florida homeowners fear soaring insurance cost after hurricanes [Yahoo! Finance Canada]
SECURITY FIRST INT HL NEW (SCFR)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
In January, Tynan's Allstate subsidiary told him it was going to drop him. Tynan called ten different agencies, "and none would cover me," he said. Finally, he found one that would. It cost 50% more. Florida has been hit with four major hurricanes in the past four years, which has sent insurance premiums rocketing and caused some insurers to pull back on coverage. For residents cleaning up after storms or living nearby water, they have another worry: Will they still have insurance? Tynan said he has not been hit directly by a hurricane but is two miles from the ocean. "I live in fear I will get a letter from my new company telling me they are going to drop me, too," said Tynan, speaking after the latest hurricane. "It's very scary." Six other homeowners contacted by Reuters in areas including both Florida coasts and the Keys also said they were worried that the back-to-back hurricanes would result in more price hikes and exclusions. Worse, they feared they could lose their
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