This week on Florida Matters, the state’s property insurance market is in big trouble.
Homeowners are paying more for less coverage as insurance companies shed customers. Some companies have gone under.
And some customers who are no longer privately ensured are flocking to the “insurer of last resort," Florida’s overburdened Citizens Property Insurance.
Lawmakers return to Tallahassee next week for a special session to deal with the crisis. That’s after repeated calls for action from some lawmakers — like Republican Sen. Jeff Brandes from St. Petersburg.
In February, Brandes told Florida Matters that without the legislature stepping in, homeowners could soon be paying more for insurance than their actual mortgage payments.
So what does this mean for homeowners and what can we expect out of the special session?
In this episode, host Matthew Peddie talks with Maria Rodriguez, an insurance agent with Rip Weachter Insurance in Tampa.
We also hear from Paul Handerhan, the president of the Federal Association For Insurance Reform, (FAIR), a consumer-oriented watchdog group based in Fort Lauderdale. He says the property insurance market will be in even more trouble — unless lawmakers can get it right with this special session.
You can listen to host Matthew Peddie's conversations with Rodriguez and Handerhan by clicking on the “Listen” button above. Or you can listen on the WUSF app under “Programs & Podcasts.”
