To the Editor:
Reinsurance, which is insurance for the insurance company, is expected to increase rates for Florida carriers in June, just as hurricane season begins.
Castle Key, a subsidiary of Allstate Insurance has dropped 33,000 policies and is raising rates by 54 percent for the remaining policy holders.
Gov. DeSantis just signed a third law for homeowners insurance in the last tw years and our premiums continue to spike higher and higher.
This is on top of Citizens Insurance requiring their policy holders to have flood insurance as a mandatory requirement.
It has already been reported that insurance companies are trying to short change people who have property losses in hurricane Ian last year.
There is no end in sight to this homeowners’ insurance crisis.
Ash Marwah
Village of Belvedere
