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Many home insurance claims being revisited in Florida

Posted On Mon, October 25, 2010

It's been five years since Hurricane Wilma struck Florida. However, the effects can still be felt from the raging winds that ended up costing home owners significantly.

The Information Insurance Institute says a number of claims have been reopened from that storm, with as many as a quarter of previously closed claims being looked at once again.

III Florida representative Lynne McChristian says there is a problem with so many claims being revisited.

"While private insurance companies are handling reopened claims with funds set aside in advance to pay these new and reopened claims, most Floridians don't realize they will be paying for Hurricane Wilma for four more years."

Home insurance is a wise investment for people to make. Houses can cost a great sum of money and may be impossible for some people to replace without the financial assistance a policy can offer.

Rates for home insurance can vary greatly depending on several factors, including home value and the amount of coverage being purchased.

Data from the National Association of Insurance Commissioners says the average expenditure for home insurance in 2007 was $822.

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