The decision was “necessary to effectively manage risk exposure,” the company said.

    • Knightfox@lemmy.one
      link
      fedilink
      arrow-up
      7
      ·
      1 year ago

      I’m all for hating on the insurance companies, but your approach is a bit short sighted. This isn’t just getting even with the insurance companies, it’s wide scale fraud. The fraud was so rampant that Florida passed two insurance reform bills to help protect the insurance companies and they are still leaving.

      Most mortgage lenders require you to have home owners insurance through the life of your mortgage. If you lose your insurance and can’t replace it it will result in defaulting on your loan. This is the reason why Florida has the highest inflation in the Country right now and unless something happens soon people might start losing their homes or be priced out of them.