A recent influx of severe storms and rising property costs is causing Canadian snowbirds like Julie Riddell to reconsider their vacation homes in Florida. While many love the warm weather and community, they are facing increased insurance premiums and the cost of hurricane-proofing their properties.
Canadian snowbirds Julie Riddell, right, and her husband Gerry own a vacation property in Fort Myers, Fla. She says she is not yet looking to sell despite severe storms in the past years.When Julie Riddell and her husband, Gerry, bought their Fort Myers, Fla., vacation property in 2009, it didn’t cross their mind that they might be buying in a hurricane-prone area.
Cleanup efforts are continuing on Florida’s west coast after two hurricanes made landfall in recent weeks. Two years ago, Hurricane Ian caused about $60 billion in insured damages in Florida,where many communities and local businesses are still recovering from the destruction. As the frequency of storms hitting the coast of Florida increases, some insurance companies have significantly hiked premiums, limited their policy offerings or pulled out of the region all together.
Upkeep of vacation homes is also getting more expensive because of the rising price of building materials and property caretakers, as well as more frequent maintenance, Rossignoli said.
Snowbirds Florida Hurricanes Property Costs Insurance Premiums
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