2005 marked a record year for hurricanes in the Atlantic Ocean and Gulf of Mexico, with weather reporters resorting to using the Greek Alphabet to come up with names for hurricanes and tropical storms headed towards the United States. Unfortunately a few of these hurricanes, including Dennis, Katrina and Wilma causes major destruction on both the Atlantic and Gulf of Mexico sides of Florida.
Because Florida is right in the midst of hurricane alley for nearly half the year, finding affordable Homeowners insurance coverage is nearly impossible for most homeowners and sustaining and repaying those Homeowners insurance policies is just as impossible for the actual insurance companies.
For quite some time, in the 1980s and 1990s, many Florida residences were covered by the state run insurance company, called the Residential Joint Underwriting Association. Only recently have large private Homeowners insurance companies, like Allstate, begun taking on homeowners insurance policies in sections of Florida, along the coastlines and in the southern part of the state, where hurricanes are more likely to occur.
Whether going through the state run RJU association or...