What is going on with home insurance in Florida and the Gulf Coast?

Homeowners through much of Florida and the Gulf Coast, especially places like Louisiana, are seeing their home insurance premiums go through the roof. They may even be dropped by their insurance company.
Many insurance companies are leaving the area entirely. The issue involve both legitimate and fraudulent insurance claims related to hurricanes and other weather events.
The roofing companies have “canvassers” with zero construction experience going through neighborhoods and recommending major repairs to homeowners. The contractor or roofer will promise to rebuild your roof or siding for very little money because they plan on getting insurance to cover it because it is storm damage. The contractor goes to the insurance company and asks for money to fix the roof, even though the roof may be over twenty years old. If the insurance company refuses to pay for the roof, the roofer calls in a lawyer to sue the insurance company. If the homeowner and contractor win, they could get an award plus attorney fee’s multiplied by a multiplier of three. In addition, the insurance company has to pay their own legal costs. Therefore, it is cheaper for the insurance company to pay out the claims, but then raise the premeiums for homeowners. At this point, more than 3/4th of insurance related lawsuits originate from Florida.
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