Key legislators reached a final compromise Sunday night on how to solve Florida’s property insurance woes.Full House and Senate will vote today on the plan.
Private insurance companies: Private insurers, which cover more than half of South Florida’s homes and condominiums, would pass along savings to homeowners based on where they live.
State Farm has predicted it could cut windstorm rates an average of 17 percent statewide, which could translate into a 30 percent cut for South Florida homeowners, by getting access to cheap reinsurance through the state’s catastrophe fund.
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