Florida property insurance highest in the Nation...by a lot!!
 

This is not political and hopefully one will look at the facts. I don't care who is in elected office.... something MUST be done or many will be forced out of their homes.

The average premium for homeowners insurance in Florida hit $6,000 per year for 2023, compared with just $1,700 for the nation as a whole, according to the Insurance Information Institute. Florida premiums have soared by 42% in the last year alone, and by 206% since 2018.
Homeowners in DeSantis’s Florida face a costly and unique problem

I pay $1,333 this year. Of course I don't have a million dollar home either.

I just googled a website to sort average homeowners premiums by county in Florida - Sumter County was the lowest county in all of Florida for cost of homeowners insurance. Lake and Marion counties were close, being in the bottom ten. Though rates are up, we in The Villages are not being hit as hard as many other parts of Florida.

And insurance companies continue to leave or stop writing policies. They wouldn't do that if Florida was a profitable State for them. What would you have the legislature do or what is your solution?

Elected officials?????......Free Market.

You want government involved??? :oops:

Exactly what is the change you would like to see/make? Make the state the insurer? Kind of like an insurance exchange?
I know that tort reform was supposed to help by limiting frivolous lawsuits, but other than that, what CAN be done by a government to limit private industries in that regard? Instead of throwing blame, tell me your solution?
You can say all insurance companies are limited to $1000 a year premiums, but what happens in a catastrophic event where they stand to lose billions?

So they were around $2,000 in 2018; still well above the national average (which was probably around $1,200).

I have never paid more than $1,000 (since 2010) but it all depends on value and cover.

I suspect that all of those beach-front properties that would disappear in a bad storm must be pushing the average up considerably.

We have all chosen to live in a State with yearly natural disasters, some small and some big. Someone has to pay for the damage. My home insurance doubled over an 18 yr period.

I think a lot of those people have chosen to go without home insurance, or cannot get it.

geez, I thought we covered this topic in excruciating detail weeks ago. .

Do insurance company's adjust rates by state disasters or national disasters like the
wild fires out West?
If by national disasters, everyone should get dinged by higher rates.

Change can only be made on things that are possible to control. Obviously, natural disasters can not be controlled. However, Florida accounts for 9% of all homeowners claims in the country but accounts for a whopping 79% of all property claim lawsuits. Something seriously needs to be done about that, especially relating to the out of control roofing scam thing. I would suggest adopting the litigation control measures of some of the states with the lowest % of property claim lawsuit’s in the country relative to their size. Also, it would be nice if insurance premiums aren’t increased for those of us who choose to own homes in the middle of the state to help keep premiums down for those who choose to live in very high risk areas along the coasts of the peninsula.

Apparently that horse is still alive and kicking and might have a lot left to give.

[QUOTE=CoachKandSportsguy;2232536]geez, I thought we covered this topic in excruciating detail weeks ago. .[/Q
REGURGITATION

Insurance
 

Welcome to the swamp. Insurance companies are not in the business of giving money away. Ah Florida, home to massive corruption, fraud, and litigation.