Hurricanes are a constant threat when you live on a Southeastern U.S. coast. But so are high wind-insurance premiums. Wind premiums can prove just as damaging to an insured's bank account as a high-powered windstorm can be to a home and family -- even for residents protected by state-sponsored insurers of last resort.
And in Florida, where June marks the start of crowded beaches and hurricane season, statistics in neighboring states show coastal wind-insurance for older homes is no bargain.
The oily mess in the Gulf threatens to get messier if and when Floridians start making claims for damages. Insurance industry experts cite several scenarios for compensation, as well as many slippery pitfalls.
