Property insurance company cancels Florida couple’s policy night before Hurricane Ian hit

TAMPA, Fla. (WFLA) -— A Tampa Bay man obtained a crash course on Florida’s property insurance coverage disaster when Hurricane Ian hit final month.

Many Floridians have had property insurance coverage points however Tom Colantuono’s expertise actually takes the cake.

The night time earlier than Hurricane Ian hit Florida, Colantuono and his spouse have been preparing. They have been shopping for provides and prepping their home once they obtained the information no one desires.

“She was white as a ghost,” he recalled. “She mentioned, ‘We simply obtained cancelled by Frontline.’”

The discover of cancellation was efficient Oct. 22, 2022.

It was the second time this 12 months Colantuono had a coverage canceled.

“Inform me why I used to be canceled?” Colantuono mentioned throughout an interview with Nexstar’s WFLA in Could.

Colantuono was considered one of greater than 68,000 Floridians canceled by FedNat Insurance coverage Firm in Could. In July, WFLA spoke with him once more when he was confronted with a double-whammy.

FEMA modified its flood maps, that means Colantuono’s flood insurance coverage prices went up alongside together with his premium. He referred to as Florida’s insurance coverage market “uncontrolled.”

Colantuono reached out to WFLA once more not too long ago, involved concerning the rights of householders.

“They only can’t cancel our coverage the night time earlier than a hurricane goes to make landfall,” he mentioned.

That’s true — they’ll’t.

As Hurricane Ian hit, Florida Insurance coverage Commissioner David Altmaier issued an order to briefly defend residents. It reads, partly, “from September 28 – November 28, no insurer or different regulated entity could cancel, non-renew or concern a discover of cancellation or nonrenewal of a coverage or contract besides on the written request of the policyholder.”

They’ll, nevertheless, cancel you after the 2 months are up. It’s why Colantuono’s agent signed him up with one other provider.

“I simply discovered a coverage with Residents,” Colantuono mentioned.

Like a million different Floridians, the state’s insurer of final resort is Colantuono’s solely resort. It’s a Florida insurance coverage story with no completely satisfied ending in sight.

WFLA requested Colantuono if he’s involved he’ll ultimately get priced out of Florida.

“Certain — simply this 12 months the will increase have gone up, in all probability doubled, virtually tripled,” he mentioned.

So why was the corporate allowed to cancel his coverage? Insurance coverage specialists mentioned the cancellation was seemingly within the works weeks earlier than Hurricane Ian.

The Workplace of Insurance coverage Regulation says any cancellation issued 10 days earlier than Hurricane Ian should be withdrawn.

Residents who skilled something comparable are inspired to name their brokers. The agent will name the corporate and inform them to withdraw the cancellation, pursuant to the state’s order. Nonetheless, an agent would possibly simply determine it’s finest to maneuver your coverage.