After months of complaining that Republicans and Gov. Ron DeSantis weren’t doing enough to combat the high cost of property insurance in Florida, Democrats are finally offering up their own plans to deal with the crisis, but it’s not market reforms, instead its advocating more government
One of those plans comes from Democrat Whitney Fox, candidate for Florida’s 13th Congressional District. She calls it the “Cutting Homeowners’ Expenses and Providing Equitable Rates Act (CHEAPER) Act.”
Fox says actions from the state level alone are insufficient and they have fallen short.
Her proposal would create a federal homeowners insurance policy for natural disasters that offers consumers a more affordable and stable market where she says, “private insurers are failing.”
Fox’s plan calls for a bigger role from the federal government by expanding the National Flood Insurance Program, putting more government regulations on contractors, builders and roofers. Fox says her CHEAPER Act would increase federal reinsurance and tax incentives for insurers operating in high-risk areas.
Democrats supporting this measure claim it will help foster competition and lower insurance costs for Florida homeowners.
“It’s clear that we need an innovative and bold federal solution. The CHEAPER Act, along with additional federal measures, provides a comprehensive path forward. By broadening risk pools, providing reinsurance, enhancing mitigation efforts, and incentivizing insurers, we can increase competition, lower premiums, and ensure that every Floridian has access to affordable homeowners’ insurance,” said Fox.
“Her plan has the same ole talking points the left loves to use,” said David Williams, President of the Taxpayers Protection Alliance. “Her plan does mention some use for tax incentives, but in the next sentence, she says her solution addresses climate change in the state and then uses the term a more resilient and equitable insurance market for all Floridians.”
Williams says if you want to lower costs for consumers, increase competition and stabilize the insurance market, you don’t do it by increasing the role of the federal government.
“How do you increase competition when your plans are to expand the government’s role in the insurance market,” said Williams.
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