Published on:

Homeowners’ Insurance and Climate Change in Miami

Currently, there is a consensus among the scientific community that the climate is changing.  Our experienced Miami homeowners’ insurance attorneys have discovered reports where some scientists expect Florida to experience significant changes in the coming decades. Some scientists have noted that Miami, in particular, may face flooding and other risks.  For Florida homeowners, it is important to understand the potential implications of climate change on your homeowners’ insurance policy.  In the event of losses related to climate change, homeowners should know that their home will be protected.

The Miami homeowners’ insurance lawyers at Greenberg, Stone, and Urbano remain abreast of the latest in climate change issues and will do all we can to protect our clients.  Our homeowners’ insurance attorneys are dedicated to assisting our clients who have experienced losses due to natural and other disasters.  We understand how hard the insurance company can make it for insured customers to receive the funds they deserve.  With our aggressive attorney team, you can appeal a denial or stringently fight for full coverage.

Insurance Companies are Reacting to Climate Change

Insurance companies are aware of the impact of climate change.  They are consulting with experts and experimenting with various models that predict losses.  If predictions of climate change come true, it will likely mean more losses for homeowners and more claims for the insurance companies due to an increasing number of hurricanes, wildfires, and floods, as all of these disasters are linked to climate change.

Some insurance companies are electing to withdraw from offering coverage to markets that are predicted to experience considerable losses.  South Florida, generally anticipated to experience serious flooding if climate change intensified, may face the withdrawal of some insurance companies in the future.  This has happened before in the state after Hurricane Andrew, but by now most insurers have returned to the market.  Insurance companies that wish to remain in high risk areas may react by raising their rates.  This could make it more expensive for private individuals to obtain the coverage they need.

Homeowners in South Florida should remain abreast of the potential for climate change to impact their property.  Be prepared by obtaining coverage for those disasters that could become more likely in the event of climate change, including flooding and hurricanes.  Both of these disasters require the purchase of a separate policy that can cost a significant amount, but will protect you greatly if a hurricane or flood hits.

Homeowners can also take steps to protect their homes from climate change related disasters.  This could include installing roofing straps, hurricane windows, raising homes in flood zones, elevating electrical outlets and making roof improvements.  These steps can not only prevent your home from being damaged in the event of a flood, fire, hurricane, or like event, they can also decrease your insurance premiums.  Notify your insurance company of improvements made and you may be eligible for reduced rates.

Greenberg, Stone, & Urbano:  Dedicated and Experienced Miami Homeowners’ Insurance Lawyers

Climate change is an emerging issue that is sure to create much controversy in the insurance field.  If you need assistance with your homeowners’ insurance related claim, contact the Miami Homeowners’ Insurance Lawyers at Greenberg, Stone & Urbano.  We have over 130 collective years of experience representing homeowners across South Florida.  Our firm offers the dedicated, knowledgeable, and caring representation you need to obtain the insurance compensation you deserve.  We are honored to have received a coveted AV rating from Martindale Hubbell and the Miami Herald’s ranking as a top firm in South Florida.   Put our extraordinary homeowners’ insurance lawyers to work on your case.  Call us at (888) 499-9700 or (305) 595-2400 or you can visit our website to schedule your initial consultation.

Source:

http://www.iii.org/issue-update/climate-change-insurance-issues

 

Contact Information