Many Florida homeowners likely to see property insurance rate increase

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[JaredMerlin]

And Governor Ron DeSantis is doing NOTHING about it. Big surprise.

[bobbybrown]

What about the rate cap they pay their lawyers to continually deny the claims.

[Bob-bbur]

Remember the politicians that allowed this and vote them out

[Donkor]

It’s going to get even worse if we take a direct hit from another major storm this year.

[ormondbeachr]

Not surprising. Citizens policies have been low on their premium compared to the rest of the market. They can’t afford the reinsurance.

[chodkowski]

Why the increase? Is it to compensate for the repair costs skyrocketing 300%? A $3, 200 A/C now costs $8, 000 to replace.

[ritac]

If it still has to be improved why does ours keep going up Every year.

[ChuckRCox]

1.2 million policies at 5 thousand each per year on average = 6 billion. A catastrophic hurricane causes 2-4 billion in losses. Deny and prolong claims until the claimant gives up = huge profits for the insurer. There are many insurance companies doing this to us. Thank you RON DESANTIS.

[seang]

Sweet! Keep draining the people! 😂😂😂😂. Keep it up guys! The American dream is officially dead!

[williamhenry]

You're lucky you have a rate cap. I am a senior living on a single small Social Security check (no pension). I live in San Diego and State Farm has raised my homeowners insurance 450 % over the last 5 years. Maybe I should move to Florida.

[PianoMatronNeeNee]

I’m moving out after 17 years. Florida is doing a great job forcing people to exit the state. No longer a “retirement” state. Everyone has their hand out💰. There should be a new state motto, “Come to beautiful, sunny Florida where you Live to work not Work to live”.

[fredfloyd]

Weak reporting. The insurance situation is already causing problems for those living in the state. This will not end well for most.

[ltcmoose]

The drug deal here is that the state realizes Citizens cost less and people take it because it is significantly cheaper. The state wants no part of insurance because they may have to pay something heaven forbid. Having Citizens cost the same as the private market insurer's is the goal here.

The only way this is going to get fixed if the developer class in FLA tell the state it can not build homes here because many people with existing homes have to sell and leave the state. They put their "cheap" under market homes up for sale and drive prices down to a point that the builders can not make any money.

[Tony-lcxo]

Why do lenders insist on full replacement? Dose not matter even if the borrower owes $1000 on the loan. You still have to pay and pay.

[anniesshenanigans]

And this means that the rest of them will also increase their rates. Disgusting!!!! If you have a mortgage pay it off!!!

[toddwerther]

I don't blame the gov... I mean, if your constituents are that easily tricked to instead care about a new m&m color, Aunt Jemima pancakes new name, and something-something disney.. hell, I'd grift from those stupids too!

[anniesshenanigans]

Everyone has a "fixed" income. 😂

[OBBUNNY]

I GUESS NEWSOME PISSED THROUGH THE $78 BILLION, YES BILLIONS THAT HE SAYS IS MISSING IN HIS BUDGET. NOW, THE TAXPAYERS HAVE TO FILL HIS POCKETS...AGAIN!!