Florida Gets New Home Insurance Solution [Video]

What’s New

Two Florida-based insurers have created a new insurance program which promises to create “affordable, turnkey insurance options” for homebuyers in the crisis-stricken state.

The new program announced by Security First Insurance and Embark MGA earlier this month integrates insurance quotes into the homebuying and mortgage qualification process, seeking to make it easier for homebuyers to get coverage while they’re purchasing a property—something that is increasingly becoming a challenge in the Sunshine State.

Newsweek contacted Security First and Embark for more information by email on Wednesday morning.

Why It Matters

Florida is in the midst of an insurance crisis that has left homeowners scrambling to find coverage.

Premiums have skyrocketed in recent years, driven by more frequent and more severe extreme weather events, excessive litigation, and widespread fraud. As a result of the growing risk posed by climate change, private insurers have cut coverage or withdrawn from the Sunshine State entirely, leaving Floridians with limited …