Florida isn’t the only state with a growing homeowners insurance crisis. According to the New York Times, over three-million homeowners along the east coast of the United States have had their insurance policies canceled over the past three years.

Many who were lucky enough to have their insurance renewed experienced a substantial increase in premiums. Most states along the easter seaboard already have a “risk pool” homeowners insurance plan. Here in Florida, the plan is administered by Citizens Property Insurance. Some state lawmakers are blaming insurance company greed for the crisis, while the insurers are saying they have to protect against the next catastrophic storm along the Atlantic coast.

It all sounds familiar to Floridians, and maybe the message will finally get through to Congress now that more voices are saying it. The lack of availability and affordability of homeowners’ insurance is a growing threat to the national economy. Congress has two efforts going forward to address the problem. One would offer wind insurance to homeowners through the federal flood insurance program, and the other would give federal backing to states that join together to pool their resources in a catastrophe fund.

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