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Florida’s home insurance crisis may be causing residents to flee the state in droves as premiums skyrocket. Rising home insurance rates in Florida could be driving people away. What’s happening:
Even more concerning for owners, rates increased a startling 43.2% in Florida between 2018 and 2023, according to S&P Global data. Check Out: 20 Best Cities Where You Can Buy a House for Under $100K
Home insurance costs are expected to rise by 40% in Florida in 2023; state governments have some power to limit those hikes, or to make cheaper government insurance available, but they cannot ...
Ten Florida insurance companies said recently they would not increase rates, and at least 15 others filed for a decrease in rates.
Insurance costs are primarily governed by two factors: the risk of occurrence and the asset exposure. With 1,200 miles of tropical shoreline, Florida is uniquely vulnerable to hurricanes and ...
The more than 1.3 million Floridians covered by state-run Citizens Property Insurance policies could also see big rate increases in upcoming years. As the insurance market improves, more companies ...
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