Florida
is
reckoning
with
a
severe

homeowners
insurance
crisis.
The
recent
surge
in
both
the

frequency
and
intensity
of
hurricanes
that
have
battered the
state
has
prompted
numerous
insurers
and
reinsurers
to

exit
the
market,
leaving
Florida
homeowners
grappling
with
skyrocketing
premiums
and
limited
coverage
options.

According
to
the

Insurance
Information
Institute,
this
exodus
has
resulted
in
Florida
homeowners
paying
an
average
of
nearly
$4,000
a
year
in

insurance,
which
is
nearly
three
times
the
U.S.
average.

In
some
instances,
homeowners
have
seen
their
insurance
costs
more
than
triple.

In
this
context,

American
Integrity
Insurance,
a

Florida-based
residential
property
insurance
company,
is
offering
basic
protection
to
Floridians
at
a
more
affordable
price
point.
On
Wednesday,
the
company
unveiled
ValueGuard
Property
Insurance,
a
product
that
addresses the
fundamental
insurance
needs
of
Florida
residents
by
covering
essential
risks
such
as
fires
and
windstorms. 

Homeowners
can
choose
to
customize
their
ValueGuard
policies
with
add-ons
to
enhance
coverage,
such
as
an
optional
flood
insurance
endorsement. 

“We
understand
the
importance
of
affordable
insurance
protection
for
Florida
homeowners,
especially
in
the
face
of
common
risks
such
as
hurricanes
and
fire,”
Bob
Ritchie,
CEO
of
American
Integrity,
said
in
a
statement.
“With
ValueGuard
Property
Insurance,
we
provide
essential
coverage
at
a
price
that
fits
within
our
customers’
budgets,
allowing
them
to
safeguard
their
homes
with
confidence.”

Earlier
this
month,
the
Florida
Senate

passed
three
bills
aimed
at
lowering
homeowners
insurance
costs
across
the
state.

House
Bill 7073,
sponsored
by
Sen.
Blaise
Ingoglia,
reduces
property
insurance
premiums
by
more
than
$500
million
statewide
by
eliminating
certain
taxes
and
fees
that
homeowners
pay
on
their
policies.

Senate
Bill
7028,
introduced
by
Sen.
Jim
Boyd,
allocates
$200
million
for
improvement
grants.
These
grants
are
designed
to
empower
homeowners
to
reduce
their
premiums
by
reinforcing
their
homes.
Priority
is
given
to
low-income
families
and
seniors. 

House
Bill
1029,
sponsored
by
Sen.
Nick
DiCeglie,
establishes
a
pilot
program
for
condominium
associations
to
apply
for
mitigation
grants.

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