I suspect the cost of living in Florida is going to get more expensive in terms of insurance cost. Plus, the insured will end up shouldering more of the risk (out of pocket costs when claims are filed) and have severe limitations and restrictions.
Here is an interesting POV about the Citizen's move to offload some of thier risk.
Expert FAQ: How Will Depopulating Citizens Insurance Affect Florida? | NerdWallet Insurance
I thought the last part was interesting.... looks like second home owners and tourist might be the initial targets.
Quote:
However, balancing the economic and environmental needs of Floridians and their state is no easy task. At minimum, it seems Citizens must delay policy transfers on primary residences and more carefully screen alternative insurers. But leaving the state’s businesses and coastal tourists to pick up all the slack also puts the state in a precarious economic position.
Unfortunately for Florida, there are no easy answers.
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It isn't just home insurance... that latest change on auto insurance is not very consumer friendly either!