Dear Community and Supporters,

We, the residents of Porto Bellagio, face a perplexing financial challenge that threatens the affordability and sustainability of our homes. Our insurance premium is set to increase yet again by an unprecedented 30.44%, a rate that is unjustifiable given the current state of our condominium and the broader economic context. Last year our premium also increased by nearly 50%.

The Facts:

• Our building has been diligently maintained and improved, and starting this year, significant investments have been made in ongoing facade and garage repairs.
• The geographical and environmental risk factors for our property have not changed.
• Our insurance costs continue to soar despite no significant growth and, in some cases, a decrease in our property values, thus suppressing our replacement costs.
• The national inflation rate, as posted by the federal government, is around 3.5%, which does not justify 30-50% insurance premium increases.

This pattern of unsubstantiated insurance premium hikes is unsustainable and unjust, impacting not just Porto Bellagio but potentially setting a precedent for other communities across Florida.

Our Request:

We call upon Florida Sentate Senator Jason Pizzo to champion this cause, to question these unwarranted increases, and to work towards legislative solutions that protect homeowners from unfounded financial burdens.

Your Support:

By signing this petition, you join a growing concern among South Florida residents over the lack of transparency and justification in insurance premium adjustments. Together, we can urge our representatives to seek clarity and accountability and, ultimately, enact change that ensures fair insurance practices.

Let's stand together for the well-being of our community and for the protection of homeowners across the state. Every signature counts and every voice matters in building a future where baseless increases do not threaten financial stability.

Thank you for your support,

Pavel Stoev
Porto Bellagio HOA President