Beach property suffers as insurance rates rise

Across the county, homeowner’s insurance rates rose by 36% from 2003 to 2010. The largest increases were seen by states that are along the Gulf of Mexico and the Atlantic Ocean.

Homeowners in these areas experienced insurance rate increases of more than 40% with residents in Florida seeing the highest rate increase (91 percent). Insurance companies claim that the higher insurance rates are a direct result of the risk involved in insuring coastal property.

For the complete story read, “Coastal homeowners stagger under insurance costs.”

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