Florida Insurance Industry

Policyholder Information
Why Is Florida Homeowners Insurance Going Up?

Why Is Florida Homeowners Insurance Going Up?

by Guylaine Cadorette | Sep 25, 2020 The perfect storm that has been brewing in Florida's property insurance marketplace has finally made landfall—and it's wreaking havoc on homeowners insurance rates. The three leading causes of premium spikes include Assignment of Benefits fraud, Hurricane Irma,...

What Is Property and Casualty Insurance and What Does It Cover?

Property and casualty (P&C) insurance is a general term that describes various forms of insurance that can help protect you and your physical property. This includes the types of insurance that typically cover items like your car, home, and even businesses, as well as situations in which you are...

Do You Have to Have Homeowners Insurance?

by Guylaine Cadorette | Feb 17, 2021 You don't have to have homeowners insurance. With increasing monthly premiums, forgoing a home insurance policy may seem like a simple way to reduce the overall costs of homeownership. And if you're able to pay for your home upfront in cash or have completely...

Does Home Insurance Cover Theft? What Is & Isn’t Covered

Does Home Insurance Cover Theft? What Is & Isn't Covered by Chantel Robillard | Feb 17, 2021 If you have homeowners insurance, your house and your belongings are covered to the extent of your specific policy, including instances of burglary and theft. Home insurance policies differ in coverage;...

What is a Florida Homestead Exemption?

The Florida homestead exemption is a property tax break for eligible homeowners. It can reduce the taxable value on your primary home as much as $50,000, saving you approximately $750 per year.Additionally, your assessed value cannot increase more than 3 percent annually once you’ve been granted a...

Is My Homeowner’s Insurance Tax Deductible?

In most cases, unfortunately, homeowner’s insurance is not tax deductible. While homeowner’s insurance is included with your house payments, the Internal Revenue Service (IRS) classifies it as a nondeductible expense, which means it cannot be deducted on your federal income tax return.  There Are...

How Assignment of Benefits Scams Work

When a home is damaged, the owner calls a repair contractor – for example, a roofer or plumber. The contractor gets the homeowner to sign a broadly worded Assignment of Benefits, or AOB, form, which lets the contractor get paid directly by the insurance company. The problem is, some underhanded...

People’s Trust Insurance Responds to Hurricane Irma

by BROOKE GOLD HASSON | Sep 13, 2017 Hurricane Irma has had devastating impacts on Florida. Our thoughts are with everyone whose lives have been disrupted by rain, wind, and floods. If you are a People’s Trust policyholder, call our claims hotline at 877-333-1230 as soon as you become aware of any...