Since the devastating 2004/2005 hurricane season, Floridians have had to pay an additional tax on their insurance policies to help pay off damage from strong storms. This tax percentage of 1.3% was included on Surety Bonds as well.
After nearly a decade, as of January 1st, Floridians are no longer forced to pay the Florida Catastrophe Fund Emergency Assessment, known as Florida’s hurricane tax.
Nice way to start the New Year!