Hurricane Insurance Continues to Rise in Florida

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Panama City, FL-- Many believe that we could be coming to an end of a volatile period of insurance rates, that is, if Florida is able to avoid another year without any major storms.

But according to federal forecasters, that seems unlikely. They are predicting 13 to 20 Atlantic or Gulf storms, and at least half of which could turn into actual hurricanes.

So as for getting insurance, some people, that meet the particular requirements don't necessarily have to get hurricane insurance, according to Andrew McKenzie of McKenzie Insurance Associates,

"Well some people who don't have bank loans, they don't have lenders that require them to carry insurance against hurricanes, have opted out of that process. And yes, they save a lot of money on their insurance premiums but they have no coverage in the event of a storm."

In January, FSU concluded homeowners in Florida in 2011 spent 8 billion dollars in premiums.