Interestingly the 7 percent decline in August mirrored the July decline. At this rate insurance rates will actually become affordable.
MarketScout said in their report, “Without significant hurricane activity in the Gulf and Atlantic, the current trend will continue and result in further softening of the property market and perhaps some much needed relief to rates for property in coastal areas.”
This is welcomed news for coastal property owners and the outrageous prices currently charged for property-casualty insurance.
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