Property insurance rates have been skyrocketing in Florida for the last five years, with many companies canceling people’s policies, leaving the state, or going out of business.
Not only are Florida home and business owners feeling the pain of rising rates, but economic analyst Hank Fishkind says the insurance issues are throwing off Florida’s property market, since insurance is necessary to get a mortgage.
Fishkind talks to WMFE’s Nicole Darden Creston about why property insurance rates are climbing while availability is shrinking, and what can be done.
Click the Play Audio button to hear their conversation.
