Will Your Homeowner's Insurance Be Able to Cover Damages if the 'Big One' Hits?

8/26/2016 (Permalink)

Some 25,000 houses were completely destroyed by Hurricane Andrew in 1992 in Miami-Dade County. Another 100,000 were severely damaged.

Below is a link to an excellent article in The Miami Herald pertaining to the viability of property insurance companies in Florida.  The industry has suffered some blows in recent times.  At the same time, Miami, Miami Beach and Southeast Florida in general up through 2017 have experienced an extended period of time without a major hurricane hitting the state, sparing the industry of a major catastrophic financial liability.  However in 2016 two storms did hit the state, the first storms to make landfall in Florida since 2015.  This has lulled many Miami and Miami Beach residents and property owners into a false sense of security. Since we haven't had a major event in awhile, many just assume that the money will be there if 'the big one' hits South Florida this year.

We know this is a high-level concern for many of our customers. Take a look to see how your insurance company is holding up:

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