Canadian snowbirds reconsider owning Florida property due to rising insurance costs and severe weather.
Severe weather and rising insurance costs are prompting Canadian snowbirds to reconsider owning property in Florida. Increased storm frequency has led to a 42% jump in average annual property insurance premiums to $6,000, compared to $1,700 nationally. Some insurers have limited offerings or exited the market, while upkeep costs surge due to higher material prices. Some snowbirds are selling their properties, while others invest in storm preparedness.
October 13, 2024
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