Suzanne Miller discusses the significant rise in insurance rates for property owners in New York. Miller explains that insurance carriers pulling out of the market and being highly selective, coupled with natural disasters in Florida and California, have led to skyrocketing rates. She notes that some condos and co-ops in NYC have seen their rates double in just one year, driven further by inflation and the rising costs for insurance companies. Suzanne advises property owners to budget wisely and shop around to stay ahead of these challenges.
