The recent water crisis has sparked an outrage amongst insurers in Florida. In the recent days, water losses have turned out to be a burden for insurers in terms of increased premiums. Sadly, no reputable party has taken a notice of this event.
However, a Florida Insurance Consumer Advocate Sha’Ron James has shown determination to help consumers in this pressing issue which has taken this long due to politics that prevails in Florida Legislature.
It has come to our notice that Citizens Property Insurance Company has confirmed that a lot of vendors are exploiting this situation and filing senseless suits under ‘Assignments of Benefits’ (AOB).
AOB is when an upset homeowner signs a contract for any emergency repairs such as a broken water pipe without having knowledge that they’ve relinquished their insurance rights. This also eradicates the right to sue. In such an event, public adjusters and attorneys work with the vendors and charge you (the insurer) with exorbitant fees. This could set you back to thousands of dollars.
How this works is that staggering 9 out of 10 policyholders with claims are forced into singing an AOB even when Citizens has completely paid off their claim! Generally, the Homeowner is kept out of the picture until something bad happens. This means the vendors in between are ripping off consumers this way.
Essentially, this means that Citizens policyholders will be paying an annual 10 percent increment. This is on top of the highest premiums already prevailing in America.
How do you protect yourself against such injustice and fraud?
You can consult us at Diverse Insurance Group where we believe in fairness and equality towards all our customers across the board. Feel free to call us at 754 300 7352, our highly skilled team will be eager to assist you in your insurance queries and have the best insurance which suits your needs. Also, fill out a Free Quote Form to get a quote estimation.