In Florida, and despite Homeowners rates declining due to legislative reforms, an alarming number of homeowners are considering going without insurance coverage. Those with mortgages may not follow through on their inclination but, Florida’s Insurance Consumer Advocate said the total number choosing to not buy home coverage could be close to 20%.
This is remarkably consistent with my agent friends telling me they’re fielding this question from clients, more than ever before. One agent even said he was going without wind coverage on his own home in Coral Gables.
So… I thought an article from JS contributor David Thompson might be helpful to those fielding such questions. It can certainly be used by any agent to provide a more complete perspective to clients who are literally asking if they should forego home premiums and instead, self fund the substantial exposures of home ownership.
Feel free to share far and wide.
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