This is a Florida news story, published by Franknez.com, that relates primarily to Homesite Insurance Co. news.
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affordable housing crisisFranknez.com
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72% Informative
Florida home prices have now increased 67% in Florida with homeowners insurance skyrocketing 42% since 2020 .
The median-income households in most Florida counties now struggle to afford median-priced homes.
New legislation requires condo buildings over three stories and older than 30 years to pass structural inspections by the end of the year .
The new rates will be reflected in bills at the first renewal date after November 7 , as outlined in the company’s filings with the state.
This is the largest rate increase by a major insurer since 2021 , when Homesite Insurance Co. , a subsidiary of American Family Insurance , was approved for a 38.2% hike in homeowner rates.
A company spokesperson did not specify when the insurer would start accepting new policies again.
VR Score
65
Informative language
61
Neutral language
6
Article tone
semi-formal
Language
English
Language complexity
55
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
6
Source diversity
6
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