the reasons why Florida is still paying higher home insurance rates

Last year’s Hurricane Season is one for the record books, marking the longest stretch without a hurricane in Florida since the National Hurricane Center began tracking back to 1851. So, why aren’t property insurance rates dying down like the winds? Because insurers know the cycle won’t last and that the costs associated with a hurricane’s long tail require building up the reserves to pay those damages, said the Insurance Information Institute(I.I.I.). Regular premiums collected in…