Why is Insurance in Florida So High?

[CreditCardRadio.com]

Insurance in Florida is crazy. We have not had any hurricanes lately why don't we see the rates going down just up. On top of that they are dropping people.

Steve

[Dr. Jim]

Really doesn't matter if there's been a hurricane in the last year or 2.

Reasons:

1) Overall, the tropical weather has been getting worse over the last 4 years.
2) The premiums reflect the epic payouts from the past hurricanes.

Bottom line: Insuring in FL is a high risk for insurance companies. Many do not even want to take the risk at all.

[Rich_in_CT]

We're on the upswing of a 10-30 yr worse than average hurricane cycle, it's only going to get worse from here and they are hedging their bets. And they're greedy.... :D