A ‘policy endorsement’ can lower insurance costs. But you have to waive the right to sue
Recent legislative reforms that ended much of the incentive for lawyers to sue insurers are getting credit for improving insurance companies’ willingness to financially fortify Florida properties against disaster and loss. But is the promise of an up-to-20% reduction in your premium worth giving up the right to sue?
We’ll get to that in a second. Because even if Floridians have more insurance companies to choose from since those reforms passed in 2023, the changes have yet to move the average Florida homeowner premium out of the No. 1 spot — the costliest in the country.
But there’s a new offering that promises to reduce insurance premiums — and lawsuits — significantly just as soon as the ink is dry on policies.