Florida Poll Shows Widespread Concern Over Property Coverage

The Florida Chamber of Commerce says that a poll they had conducted shows Florida voters put grave importance on efforts at property insurance reform.

The poll, which was supported jointly by the Chamber and the Property Casualty Insurers Association of American, surveyed 800 registered Florida voters and was taken on July 26-31 by Public Strategies Inc.

Since early 2009, the Florida Office of Insurance Regulation has approved 140 residential insurance rate increases, and more increases are expected.

“Rather than thinking government is the answer to our property insurance problem, Florida’s next Governor should develop market-based, fiscally responsible solutions that don’t leave taxpayers holding the bag,” said Adam Babington, vice president of Governmental Affairs for the Florida Chamber of Commerce, in a news release. “We have said for years that Florida is financially unprepared for a hurricane, and it’s clear that the voters of Florida agree.”

The poll found that:

• By a 55%-42% margin, voters believe people living in coastal areas of Florida should pay higher homeowners insurance rates than those who live inland.

• Less than four in ten are aware of the state’s ability to tax insurance policies to subsidize Citizens homeowners insurance policies, and just one in five favor the policy.

• A large majority (65%) of those polled would give policyholders one year to file an insurance claim.

• Insurance agents are seen as highly credible on homeowners insurance issues. The governor, homeowners insurance agencies, media outlets and the Florida Chamber of Commerce are also viewed as credible.

“This poll sends a clear message to lawmakers that any property insurance reform needs to be targeted at making the marketplace more competitive and geared toward long-term stability,” said William Stander, vice president and regional manager for Florida for the Property Casualty Insurers Association.

“Florida voters believe changes to the insurance laws over the past four years that promised to improve conditions for consumers have failed, with 86 percent of homeowners believing their homeowners insurance situation has either stayed the same or gotten worse,” he added. “Nearly 50 percent of consumers think their homeowners insurance situation has gotten worse, while only seven percent think conditions have improved. Clearly, government must work together with insurers and consumers to find long-term, common-sense solutions that work for all of us.”

Topics Florida Property Homeowners