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.
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