Florida is one of 50 states and experiences 9% of all homeowner’s insurance claims, not unreasonable given our weather and geography. However, Florida has 79% of all homeowner’s property insurance litigation.
Stop for a moment and consider those numbers -- 9 % of claims nationwide and 79% of all disputed claims in the U S. Really?
One Florida insurance provider is offering a voluntary endorsement, whereby the homeowner will receive a discount on their premium if they waive their right to litigation on a disputed claim.
The endorsement provides that the policy holder agrees that disputes would be handled by what is known as alternative dispute resolution (ADR), meaning mediation and/or binding arbitration.
If the homeowner does not opt for the endorsement and discount, they will pay the full going rate for their insurance and they retain their full rights to sue the carrier if there is a dispute arising from a claim.