Homeowners want Freedom of Choice for Homeowner’s Insurance
Legislation approved by formidable margins in both the Florida House and Senate is on its way to Governor Crist’s desk for signature. If you support free market choice for homeowner’s insurance, please use the link below to urge the Governor’s support of HB 1171. Share with your family and friends who are also Florida residents at risk …
The message is clear: homeowners want freedom of choice. The people are asking for the freedom to choose, and the Legislature has answered by approving the Consumer Choice bill (HB 1171) with a clear majority. With this action, legislators proved they were listening. They showed they understood the importance of allowing consumers the right to choose their own insurance company for homeowners insurance.
Promise of Protection
Homeowners deserve protection. In addition to offering consumer choice, the bill holds the promise of protection. Homeowners will be protected from insurance companies who are not financially sound enough to pay claims. They can rest secure in the knowledge that if the unexpected happens, they can count on their trusted insurance company to help them recover.
Freedom of choice and the promise of protection all are within reach, but could easily slip from our hands: Governor Crist (pictured at left) has suggested he may not allow this pro-consumer legislation to become law. The time to act is now. If you agree that Floridians deserve greater insurance choices, please click here and contact the Governor immediately and tell him you support the Consumer Choice bill (HB 1171).
More information on this important bill:
Choice
- This bill is all about choice.
o Prior to this legislation, consumers were often forced to find coverage through state-run Citizens or smaller, unknown start-up companies.
o Under the bill, consumers would have the option to choose financially strong insurance companies as they compete for the business.
Protection:
- The bill does NOT force a single consumer to pay more for insurance. Consumers will continue to have access to lower-cost alternatives.
- After a storm, the ability to pay claims is critical. With news of the Cat Fund and Citizens potentially being unable to meet obligations, this bill is welcome news because it potentially allows well-funded insurance companies to expand available coverage to Floridians facing the next storm.
- The policies offered under this legislation are NOT unregulated. Key state requirements for claims paying ability and fair customer treatment continue to apply.
Education:
- Consumers will be educated on their options.
o Lower-cost alternatives policies will be offered through a comparison shopping requirement contained in the bill.
o Consumers will be asked to acknowledge they are purchasing a “Consumer Choice” policy through a signed disclosure.
Bill Summary:
HB 1171 was proposed in response to the thousands of consumers who found themselves without property insurance from a large, well-known company and were forced to obtain coverage through Citizens or an unknown provider. This legislation is designed to give consumers greater insurance choices.
The bill allows qualified insurance companies to offer policies with market-based rates to customers wanting greater insurance options. Companies qualify to participate by meeting financial requirements, ensuring that only strong companies better-able to meet their claims obligations offer these products.
Consumers will continue to have access to Citizens and other lower-cost options through companies offering policies subject to state price controls.
The state of Florida has no business being in the insurance industry, just as the Federal Gov’t. has no business in the banking, auto, health care industries or any other!! As Reagon said, “Government IS the PROBLEM”. Please let common sense prevail and think about the people who foot the bill-US.