stormdodger
Junior Member
What is the name of your state? Florida
I renewed my windstorm insurance on 6/21/06 with building/contents coverage of $75k/$36k and a 2% deductible. The premium was double over the year before (understandable I guess).
I just got a notice 9/21 from the insurer increasing the coverage to $157/$76 (which also doubles the deductible). The premium was doubled again and the difference is due in 7 days on 9/30.
I called the agent and she said it was a "new law" that Florida residents can't be underinsured. Bottom line is that I can only self-insure the entire amount, not just a portion. And it seems they are only considering damage that amounts to a total loss.
Can someone site this law for me? Also please help me understand the logic behind this. Thank you for your comments...
I renewed my windstorm insurance on 6/21/06 with building/contents coverage of $75k/$36k and a 2% deductible. The premium was double over the year before (understandable I guess).
I just got a notice 9/21 from the insurer increasing the coverage to $157/$76 (which also doubles the deductible). The premium was doubled again and the difference is due in 7 days on 9/30.
I called the agent and she said it was a "new law" that Florida residents can't be underinsured. Bottom line is that I can only self-insure the entire amount, not just a portion. And it seems they are only considering damage that amounts to a total loss.
Can someone site this law for me? Also please help me understand the logic behind this. Thank you for your comments...