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Florida – Thousands of insurance claims have been denied following Hurricanes Milton and Helene in Florida, with over 37,000 denials recorded, leaving many homeowners facing financial hardship due to high insurance premiums.
Hurricane Milton and Helene have resulted in a surge of insurance claims in Florida, with thousands of claims denied.
As of October 23rd, over 359,000 claims have been filed for both hurricanes.
Of these, nearly 38,000 have been denied, representing 10.5% of all claims.
Residential claims make up a significant portion of the denied claims, with over 34,000 denials for home insurance.
Other types of claims include commercial property, private flood, business interruption, and auto insurance.
Hurricane Milton, which struck Florida in early October, caused widespread damage and resulted in at least 16 deaths.
Hurricane Helene, which made landfall in August, also caused significant damage and loss of life.
The high rate of claim denials is attributed to several factors, including insufficient information, missed premium payments, fraudulent claims, and coverage gaps.
Many flood claims are likely being denied due to lack of flood insurance coverage.
Florida residents face some of the highest home insurance rates in the United States, with average premiums significantly exceeding those in neighboring states.
This can make it difficult for homeowners to afford adequate coverage, increasing the risk of financial hardship in the event of a disaster.