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Florida, like many coastal states, is facing a major property insurance crisis. In recent years, several factors have led to skyrocketing insurance rates and an exodus of insurers from the state. This has left many homeowners in a difficult position, struggling to find affordable coverage.

One of the main drivers of the crisis is Florida’s unique climate. The state is located in the apex of the hurricane belt and is prone to other natural disasters, such as flooding and sinkholes. This makes it a very risky place to insure property.

Additionally, the Sunshine state has a history of insurance fraud. Some homeowners have filed fraudulent claims in an attempt to get money from their insurers. This has made it more difficult for insurers to stay in business.

In recent years, the state has taken some steps to address the crisis. In 2022, the Florida Legislature passed a law, Senate Bill 2D, that cracks down on insurance fraud. The law also requires insurers to offer more affordable policies to homeowners who make their homes more resilient to hurricanes, through documented efforts like those with the Insurance Institute for Business & Home Safety (IBHS)’ Fortified Home™ program.


An overview of the major factors that have contributed to Florida’s property insurance crisis:



These changes have made it more difficult for insurers to operate in Florida, which has contributed to many providers pausing on writing policies and in some cases, withdrawing from the state altogether.


 What is the impact of the property insurance crisis on Florida homeowners?

Higher premiums. Homeowners in Florida have seen their insurance premiums skyrocket in recent years. In some cases, premiums have doubled or even tripled.

Difficulty finding coverage. Some homeowners have been unable to find any insurance company willing to write them a policy.

Increased risk of financial hardship. The rising cost of insurance has made it more difficult for homeowners to afford to live in Florida. Some homeowners may be forced to sell their homes or take out loans to pay their premiums.


The future of property insurance in Florida:

The future of property insurance in Florida is uncertain. The state is taking some steps to address the crisis, but it is currently unclear whether these steps will be enough. It is possible that the crisis will continue to worsen, making it even more difficult for homeowners to find affordable coverage.

In the meantime, homeowners in Florida should take steps to protect themselves, such as by investing in property mitigation efforts i.e., ensuring that their homes are FORTIFIED™ and have the appropriate construction upgrades to ensure that their property is protected during severe weather. Existing homes that are retrofitted for the FORTIFIED Home™ Roof program, are more attractive to insurance companies because they are proven to be more resilient than those that meet common building practices. Additionally, homeowners should make sure to talk to their insurance agents to ensure that they have adequate insurance coverage and that they are aware of the latest developments in the property insurance market. They should also be prepared to take legal action if they believe they have been the victim of insurance fraud.


If you believe that you are the victim of insurance fraud, please contact your insurance company immediately.

If you have questions about property mitigation contact us at 888-964-8776 ext 2 or visit to take the first steps to ensuring that your property can withstand severe weather.