Hurricane Damage Leads To High Property Insurance Rates In Florida Coastal Areas

country, this new legislation proposes that all 300,000,000 plus members of the society contribute to rebuilding.  This legislation will very likely be signed into law by President Obama very soon.

In the meantime, homeowners in Florida coastal regions can expect to see a 10% increase in their insurance premiums beginning in 2010.  In addition, 10% increases will continue to affect the region for years to come.  In fact, it is projected that insurance premiums for those areas will more than double in less than five years.  Insurance companies, and especially the companies that insure them, are corporate giants that absolutely refuse to lose profits in the long run.  They hold incredible lobbying power. They will make sure that new laws are passed in order to help them absorb the heavy costs associated with various natural disasters that are bound to occur periodically.

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Gloria Singer –