FLORIDA INSURANCE SYSTEM IS FAILING - ARE YOU AT RISK?
FLORIDA INSURANCE SYSTEM IS FAILING - ARE YOU AT RISK?
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FLORIDA INSURANCE SYSTEM IS FAILING - ARE YOU AT RISK?
Welcome back everyone! Today we're tackling the systemic insurance risk issue that affects Florida and coastal areas across the globe—the growing impact of natural disasters on real estate, insurance, and your wallet.
Florida’s coastline holds up to a trillion dollars in real estate value, but with extreme weather events happening more frequently, homeowners are facing skyrocketing insurance costs. What used to be a 1-in-100-year hurricane is now more like a 1-in-20-year event, pushing insurance premiums from 1% of home value to as high as 5% annually. Can you afford that?
We dive into the implications of hurricanes, rising insurance costs, and the potential collapse of the Florida real estate market. With the state's insurance safety net already maxed out and federal aid uncertain, homeowners and investors face tough decisions. Will the federal government bail out Florida? If not, what happens to homeowners whose biggest asset is suddenly worth less?
And it’s not just Florida. Across the U.S., from wildfires in California to extreme heat in Arizona, the cost of natural disasters is rising fast. Is investing in coastal or disaster-prone real estate still a good idea, or is renting the smarter move?
Watch as we explore these critical questions, and leave a comment with your thoughts. Are coastal properties becoming a liability? How would you navigate this storm? 🌀
Don’t forget to like, subscribe, and hit that notification bell for more deep dives like this. Stay safe, and I’ll see you in the next video! 🔔
REALTOR: Chris Igoe
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Legal Disclosure: I’m not a financial advisor, lawyer, analyst or accountant. The information contained in this video is for entertainment purposes only. Before investing please consult a licensed professional. Any stock, real estate, or any other purchases I show on video should not be considered “investment recommendations” or investment advice. I shall not be held liable for any losses you may incur for investing and trading in the stock market (or any other market) in an attempt to mirror what I do. Unless investments are FDIC insured they may decline in value and/or disappear entirely. Please be careful!
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