Vern Buchanan: “there is no larger issue in my home State of Florida than the high cost of homeowners insurance. Like many Floridians…”

“there is no larger issue in my home State of Florida than the high cost of homeowners insurance. Like many Floridians, my constituents are finding property insurance more expensive and, many times, impossible to get. Skyrocketing insurance is hurting the middle class and it is damaging our real estate market and our economy. Insurance in the State of Florida has gone up 385 percent in last 5 years, 77 percent a year. This bill is necessary to encourage insurance companies to write policies that will work for families and small businesses that they can afford. One of our businesses, and I don't want to leave them out either, in our community, their insurance went from $25,000 to $125,000. They called me and asked me what could they do. I said, ``Well, get some other prices.'' He called back and said there was nobody else that will even write it. One insurance company. They had to have it because they had a mortgage. I am pleased the House will pass a manager's amendment that includes language authorized by my colleague Ginny Brown-Waite.”