Part 3/7:
The staggering costs of homeowners' insurance have led some long-term residents to reconsider their coverage. For instance, retirees with homes paid off are contemplating dropping their insurance entirely, opting instead to relocate north if a disaster occurs. This mindset reveals a troubling trend: 12% of homeowners in Florida do not carry insurance, leaving them unprotected in times of crisis.
This lack of insurance transforms a natural disaster into a financial catastrophe for many. These homeowners face the ongoing burden of mortgage payments even after losing their property. They are left with a dilemma: how to manage financial obligations when the roofs over their heads are wiped away.