Tag: self insuring
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Despite some stabilization in Florida’s volatile property insurance market, homeowners and condo owners are still grappling with some of the highest insurance premiums in the country. An emerging trend sees more individuals choosing to “go bare” by opting out of traditional home insurance in favor of self-insuring, a move that experts view with significant concern.…
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Approximately 15% of Florida homeowners choose to self-insure their properties amid the state’s ongoing property insurance crisis, but experts caution that this option carries significant risks. What Does Self-Insuring Mean? Self-insuring involves setting aside funds in a savings or investment account to cover potential repairs or rebuilding costs instead of purchasing a traditional insurance policy.…
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