Reported 2 months ago
Hurricane Milton is poised to worsen Florida's already troubled homeowners insurance market, with potential losses estimated between $60 billion and $100 billion. The category 5 hurricane threatens to drive up insurance costs and may leave residents struggling to find coverage, as many national insurers have exited the state amid rising claims and financial instability. Florida homeowners currently pay the highest premiums in the nation, with the average cost reaching $4,060 last year, as the market contends with ongoing challenges including legal issues and climate change-driven weather events.
Source: YAHOO