Florida Homeowners Are Still Waiting for Insurance Relief — And Some Are Ready to Leave
For more than a year, Floridians have been promised that homeowners’ insurance relief is coming — but for thousands of residents, the opposite seems true. Premiums continue creeping upward, pushing long‑time homeowners to question whether they can afford to stay in the state they love.
WPTV News Channel 5 has been closely tracking Florida’s shifting insurance market. And while state leaders insist improvements are underway, many homeowners say their lived reality tells a very different story. Explore the full report at WPTV News Channel 5.
A Homeowner’s Breaking Point
In Coral Springs, longtime homeowner Lisa Riggi has reached the point of frustration. After seeing a WPTV story claiming insurance conditions were improving statewide, she reached out to share her experience — and it wasn’t good news.
“The year prior, it went up 30%, and then this year I don’t know the percentage, but it went up another $170.”
Riggi has owned her home for 26 years. Yet despite claims of statewide stabilization, her premiums have continued to rise year after year.
If Rates Are Going Down, Why Are Premiums Going Up?
Executives at major insurance groups — including Windward Risk Managers, which oversees Florida Peninsula, Edison, and Ovation — say they’ve actually filed rate decreases or held steady for several years.
But decreasing rates don’t automatically mean decreasing premiums.
As the market shifts, property values rise, and inflation affects materials and labor, the amount needed to insure a home increases. That means even with a lower “rate,” the total premium may still climb.
Tap to Explore: Why Premiums Rise Even When Rates Fall
• Higher property valuations
• Inflation in construction materials
• Updated replacement‑cost calculations
• Expanded coverage requirements
This is often confusing for homeowners — and it’s why many Floridians feel they aren’t seeing the relief they were promised.
State Leaders Say the Market Is Strengthening
Florida’s insurance commissioner, Michael Yaworsky, insists the state is experiencing its strongest insurance market in more than a decade. Lawsuits have dropped dramatically, 17 new companies have entered the market, and elected officials cite renewed confidence among insurers.
“We are the strongest from a solvency‑capitalization perspective that we’ve been in well over a decade,” Yaworsky told WPTV.
But that’s cold comfort to homeowners like Riggi, who feel the financial pressure more intensely each renewal cycle.
“We’re Looking at Moving”
For some families, rising premiums have pushed them toward life‑changing decisions.
“We’re not sure if we’ll stay in state or out of state, but we’re looking at moving; it’s not affordable for us to stay here anymore.”
State leaders hope a quiet 2025 hurricane season will bring additional relief in 2026 — but homeowners are asking whether they can afford to wait that long.
Why This Matters for Real Estate and Insurance Professionals
Insurance premiums don’t just affect homeowners — they directly impact real estate professionals, mortgage lenders, appraisers, and insurance agents. Understanding these shifts is essential as clients increasingly request guidance on affordability, relocation, and long‑term planning.
At Cameron Academy, we keep aspiring and seasoned professionals informed about evolving market forces while helping them earn or upgrade licenses in real estate, mortgage, insurance, and more. When markets change, knowledge becomes your most valuable asset.
For more insights like this — and to explore licensing programs across Florida and all 50 states — visit Cameron Academy.
More Articles
Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!
Lofty has launched the industry’s first Agentic AI Operating System, a breakthrough platform that doesn’t just follow commands—it plans, executes, evaluates, and adapts entire workflows on its own. Designed specifically for real estate professionals, the system acts like an AI “orchestra,” coordinating specialized agents for lead qualification, marketing, SEO, transaction management, website creation, and more. With leaders calling this a major leap beyond traditional tools, Lofty AOS signals a new era where agents can focus on relationships and closings while AI handles the heavy lifting.
Florida’s insurance landscape is finally showing signs of stability as private insurers return and Citizens Property Insurance drops below 400,000 policies. Insurance Commissioner Michael Yaworsky says reforms are working, but homeowners may not feel relief yet as inflation and rebuilding costs keep premiums high. With transparency improvements, mitigation credits, and new AI regulations on the horizon, Florida aims to avoid another insurance crisis while keeping the market competitive and consumer‑friendly.
Mortgage rates just hit their lowest point since 2022, closing January at 6.18% and giving buyers and industry professionals a rare moment of relief. But while the Federal Reserve continues to pause rate hikes, economists warn that significant declines are unlikely. Most forecasts show rates hovering near 6% through 2026, with political uncertainty and inflation keeping markets volatile. For now, stability may be the best we get — and even that could be temporary.
Propy, a fast-growing real estate tech firm blending AI automation with blockchain-backed transaction systems, has secured a major $100 million credit facility to accelerate nationwide title company consolidation. The funding aims to modernize the traditionally slow, paper-heavy closing process, offering real estate professionals a faster, more secure, and more transparent experience. As automation reshapes the industry, staying educated on emerging technology will be essential for agents, brokers, mortgage professionals, and investors looking to stay competitive.
Escrow payments in Florida have jumped an astonishing 70% since 2019, far outpacing the national average and now consuming nearly 38% of a typical monthly mortgage payment. Surging insurance premiums and rising property taxes are driving the increase, reshaping affordability for homeowners and pricing out many would‑be buyers.
After losing their Altadena home in the LA wildfires, Jessica and Matt Conkle expected State Farm to help them rebuild. Instead, they faced months of delays, low valuations, and stalled claims — a struggle shared by nearly 80 percent of wildfire survivors. As insurers pull out of high‑risk areas and premiums soar, the crisis is reshaping homeownership, tightening mortgage approvals, and straining government safety nets. What’s happening in California is rapidly becoming a national issue, with real estate, mortgage, and insurance professionals on the front lines of a system under unprecedented pressure.
