Florida’s Sky-High Homeowners Insurance: Are We Entering a “New Normal”?
Florida homeowners have been holding their breath for years as insurance rates climbed higher and higher. Recently, Gov. Ron DeSantis and Insurance Commissioner Mike Yaworsky celebrated what they described as major progress in stabilizing premiums. But many Floridians are asking a fair question: If this is victory, why does it still feel so expensive?
According to experienced voices on the Treasure Coast, the answer isn’t simple. Rates may have stopped exploding, but they’ve settled onto a painfully high plateau—one that continues to keep Florida in the spotlight as the most expensive insurance market in the country.
The “New Norm”? Local Experts Weigh In
Harry Howle, insurance broker, real estate agent, and former City of Vero Beach mayor, describes today’s rates bluntly: “Once the cost of insurance is raised, overall, it seems to become the new norm.”
Homes in the beachside 32963 ZIP code remain especially challenging. Despite new insurers reentering Florida, many still refuse to write policies near the coast after years of catastrophic storm losses.
Tap to reveal: Why insurers are still nervous about Florida’s coastline.
Howle notes that while some policyholders are finally seeing minor adjustments—both increases and decreases—none of these changes are dramatic. Compared to the double or quadruple jumps in previous years, even a small shift feels like relief.
“I’d like to see more competition enter the state,” he said. “But I’ll take what I can get today.”
Older Homes Hit the Hardest
If your property was built decades ago or sits close to the water, brace yourself. Older, high‑value homes continue to see gradual but steady increases, even as statewide averages level out.
That’s partly because insurers now demand expensive upgrades—sometimes to systems that seem to be in perfectly good working order. Roofs, plumbing, electrical components… nothing escapes scrutiny.
Interactive Insight: Insurance companies now inspect everything—roof age, wiring, water heaters, breaker boxes, and more.
Howle refers to the process as “endless insurance inspections.” And even after all of them, homeowners may receive wildly varying quotes from different insurers.
Real Numbers: Beach vs. Mainland
Consider how drastically location and age can affect your premium:
• A $750,000 home built in 1970 on the beach: $8,200 per year
• An $820,000 home built in 2020 on the mainland: $3,200 per year
Another comparison:
• A 1991 beachside home with $1.4M replacement cost: $15,000 per year
• A $900,000 mainland home built in 2019: $2,600 per year
The numbers speak for themselves.
Lawmakers Push for More Transparency
Frustrated by persistently high rates, several Florida lawmakers are introducing new reforms. One bill targets “excess profits,” requiring insurers to publicly show the financials behind their rates—something currently shielded from public record requirements.
Another proposal would force insurers to break down cost factors behind every premium, giving homeowners a clearer picture of where their money actually goes. Insurers argue this data is proprietary—a “trade secret.”
Explore: How transparency laws could change insurance—and your wallet.
What This Means for Florida’s Real Estate Professionals
For agents, brokers, and aspiring professionals—especially those pursuing or renewing a license through Cameron Academy—understanding Florida’s insurance landscape is crucial. Buyers today are more informed and more cautious, and insurance premiums often make or break a deal.
Whether you’re entering the real estate field, renewing your mortgage or insurance license, or completing continuing education, staying informed helps you guide clients with confidence in a constantly changing market.
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!
The iad Group, a renowned name in the real estate industry, is making its grand entry into the U.S. market. Originating from Paris, the iad Group has established its presence in numerous countries, and now, it's Florida's turn to experience the iad Group's unique approach to real estate. The iad Group's business model is a blend of human connections and a cloud-based structure. This innovative approach has been the driving force behind the company's success in various countries, and it aims to replicate this success in the U.S. The iad Group's Florida operation, iad Florida, is launching with 18 agents based in the vibrant city of Kissimmee. These agents are ready to spearhead the iad Group's expansion into the U.S., bringing their expertise and passion for real estate to the American market.
In the ever-evolving world of real estate, staying ahead of the competition requires innovative solutions that streamline processes and maximize opportunities. MoxiWorks, a leading real estate technology platform, has recently integrated two powerful tools, MoxiPresent and MoxiConnect, to revolutionize the way agents create presentations, conduct buyer tours, and provide annual property reviews. This integration not only enhances efficiency but also empowers agents to deliver a higher level of service to their clients. Ready to take your real estate career to the next level? Explore the online career education courses offered by Cameron Academy and gain the skills and knowledge you need to thrive in the industry.
The U.S. Department of Housing and Urban Development (HUD), along with seven other federal agencies, has recently taken significant steps towards promoting fair housing. The agencies have clarified and enforced Title VI of the Civil Rights Act of 1964, which prohibits discrimination based on race, color, or national origin. Now, the protection extends to include discrimination based on shared ancestry and ethnicity. A housing-specific fact sheet has been published by HUD in collaboration with other federal agencies. This fact sheet provides guidance on reporting housing discrimination and seeking assistance, serving as a valuable resource for individuals who have experienced discrimination and are seeking justice.
As mortgage rates rise, home sellers are navigating a challenging market landscape, adjusting their prices to attract potential buyers. Increasing mortgage rates present significant challenges for buyers, impacting affordability and decreasing demand for homes. In response, many sellers are reducing their prices. Despite these challenges, the median U.S. home sale price has shown resilience, rising by 3% year over year. As the housing market continues to evolve, it's crucial for both buyers and sellers to stay informed about the latest trends and dynamics.
Non-white homebuyers, particularly Hispanics and Blacks, continue to encounter discrimination during their search for a new home, despite existing legislation aimed at preventing such practices. According to a recent survey conducted by Redfin, 36% of Hispanics and 32% of Blacks reported feeling discriminated against throughout their homebuying journey. The study also highlights that discrimination extends beyond race, with 22% of LGBTQ+ respondents experiencing bias based on their sexual orientation. These findings shed light on the persistence of discrimination in the housing market, challenging the effectiveness of current laws and regulations.
In a startling turn of events, mortgage rates have skyrocketed to their highest level since 2000, causing ripples throughout the housing market. This surge is driven by inflation concerns and the Federal Reserve's plan to taper its bond-buying program. As the economy continues to recover from the pandemic, inflationary pressures are mounting, leading to higher borrowing costs. This article delves into the details of this alarming trend and its potential implications for the housing market.
