Blog

Helpful tips, advice, information and fun facts on topics including safety, maintenance and homeowners insurance.
Florida Peninsula Insurance has policies in just about every city in Florida Get A Free Quote

Posts Tagged 'Water Claims'

We are pleased to present below all posts tagged with 'Water Claims'. If you still can't find what you are looking for, try using the search box.

Water Damage Mitigation – Plumbing

Taking steps to avoid plumbing issues can be quite simple, consider a few of these tips.

Popular tags: , , , , , , , , ,

Water Losses and Fraudulent Water Claims Are Driving Up Rates in Florida

Damages due to water losses continue to be the top source of claims in Florida. According to a report conducted by Insurance Journal, the severity and frequency of water loss claims in Florida have steadily increased every year since 2010. The Review of the 2015 Assignment of Benefits Data Call, conducted by Florida's Office of Insurance Regulation (OIR), investigated 259,742 water claims from the top 25 insurers in the state, including damages resulting from appliance leaks to water pipe bursts. Their findings show the frequency of water claims have increased by 46 percent since 2010, with an average annual increase in frequency of 8.3 percent each year.  Fraudulent water mitigation claims are also on the rise, becoming a major concern for many across the nation. Regions including South Florida, are seeing a large number of fraudulent claims, which pose a serious threat of increased homeowners insurance rates. According to the propertycasualty360.com article, Underwater: Cleaning up fraudulent water mitig ...

Popular tags: , , ,