Occupying top-of-mind awareness among property insurers, fraudulent water mitigation claims are on the rise nationwide.
They are viewed as major concerns in many regions, including South Florida, where insurers fear fraudsters could destroy the Homeowners' insurance market by driving up rates, forcing the industry beyond the financial reach of most residents.
Some home insurance executives say rates across South Florida are expected to rise by 6% or more this year, largely because of a significant hike in non-catastrophe claims — a majority of them water loss claims that are inflated by unscrupulous water mitigation companies.
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