Five Ways Hurricanes Increase Your Expenses in Florida.

(Bloomberg) -- The US hurricane season officially kicks off next week, and no other place in the country is more vulnerable to storm-related damage than Florida, the fastest-growing state in the nation. Insurance rates jumped 27% in 2021, 33% in 2022, and are expected to rise at least 40% this year (maybe 50%), according to the institute, which would put the average price at $6,000.Florida's Office of Insurance Regulation blames this on fraud not hurricanes, pointing out that Florida accounts for 9% property insurance claims in the nation, but more than 76% of property insurance lawsuits. [Extracted from the article]