Individuals and families with fixed incomes are being crushed under the weight of increasing homeowners insurance costs, especially in disaster areas, that are increasing exponentially compared to their fixed incomes, pricing them out of their homes.
This policy proposal is for a refundable tax credit that is proportionate to homeowners insurance rates and fixed incomes to allow these individuals to stay in their homes and not be forced to sell due to high premiums.
I agree something needs to be done. I have had to cancel our homeowners insurance because of increase. On fixed income. Excuse for rise was because of all the disasters. None of which we had in our area, nor have I ever filled a claim. So why are we paying more. The insurance companies should invest better to cover all that. Not everyone that has a policy with them. Especially the one’s with no claims.