If You Have This One Thing in Your Home, Getting Insurance May Be Tricky

Getting home insurance is already difficult in Florida after Hurricane Ian. With the entire insurance industry on thin ice, reinsurance rates have skyrocketed. But if you have poly pipes in your home, your insurance issues might be even more severe. As one homeowner recently explained, having poly pipes in your home could result in a non-renewal notice. But why is this the case? What should you do if your claim has been denied? Let’s find out:

Inspections Required for Reinsurance

For those Florida homeowners who can afford the high rates of reinsurance, there’s a catch: You almost always need a new inspection. And this inspection might reveal issues with your home that previously fell under the radar: Such as poly pipes. This is exactly what one Florida homeowner experienced recently. Speaking to NBC news, she stated:

“They said, in order for me to get a new policy, I have to change my pipes. They were discontinued because the fittings and the pipes used to break. They’re very common for breaking. Mice and rats used to eat them up and pipes used to leak creating water leaks, and they were discontinued, taken out of the market.”

Even though this homeowner doesn’t actually have any plumbing issues, she is finding it very difficult to find an insurance provider in the post-Hurricane-Ian market.

Florida’s Insurance Industry Continues to Struggle

Why are Florida’s insurance companies searching for any potential issue that might cause problems? Because they are barely staying afloat, and they desperately want to avoid paying out claims. Florida’s Allstate Unit recently revealed that its credit outlook was negative, with its financial rating slipping. UPC just completely exited the insurance industry in Florida, and policyholders will have no choice but to transfer to Slide instead. But some experts warn that this transition might not be easy, with an Insurance Information Institute representative revealing:

“The big issue will be what happens with the roughly 20,000 outstanding claims related to hurricane damages. We know those filed before Feb. 1 will be taken over by FIGA [Florida Insurance Guaranty Association]. Slide will not be responsible for assuming those claims.”

Meanwhile, the government continues to provide some assistance — perhaps most notably through the “Rebuild Florida” project. But some argue that the government should be doing more to help the “little guy” rather than bailing out the insurance industry and offering legal reforms to make their companies more profitable.

Where Can I Find a Qualified Hurricane Insurance Lawyer in Trenton?

If you’ve been searching for a qualified, experienced lawyer who can help you with your hurricane damage claim in Trenton, look no further than the Shochet Law Group. Over the years, we have helped numerous homeowners in the Sunshine State who have had claims denied. We can also help you if you have been offered a settlement that is far too low to cover your damage. Reach out today to get started with an effective action plan. Get the compensation you need to rebuild.

Sources

1. https://www.nbcmiami.com/responds/does-your-home-have-poly-pipes-getting-insurance-may-be-difficult/2992573/
2. https://www.insurancejournal.com/news/southeast/2023/03/14/712048.htm
3. https://stpetecatalyst.com/whats-next-for-upc-policyholders-as-insurer-exits/
4. https://floridajobs.org/rebuildflorida

Shochet Law Group

409 N. Main Street
Trenton, FL 32693
(352) 354-4518 or (877) 548-9888
[email protected]

If you have further questions about this article or legal concerns, call 800-672-3103