Florida’s Insurance Crisis: Why Premiums Keep Rising and What It Means for Homeowners
Florida’s property insurance market is once again under the microscope, and a newly released report suggests the problems plaguing homeowners aren’t going away anytime soon. In fact, many of the issues that sparked previous market collapses appear to be resurfacing—just under new branding.
The report, published by the Insurance Fairness Project and highlighted by InsuranceNewsNet, breaks down what the organization calls the “mirage” of Florida’s insurance comeback. Despite political messaging about recovery since Hurricane Ian in 2022, the data shows rising premiums, fragile insurers, and a climate of uncertainty that leaves homeowners seriously exposed.
Click to Reveal: How Much Have Premiums Increased?
According to the report, Florida homeowners are paying 54% more for property insurance since 2019—now the highest rates in the nation. Even more alarming: an estimated 20% of Florida homeowners have stopped carrying insurance altogether.
The Hidden Weakness Behind the “Recovery”
A major concern is who is entering the insurance market. The report claims that several “new” insurers are simply rebranded versions of previously failed companies—or are led by executives tied to earlier insolvencies. Combined with weak oversight and questionable rating standards, the situation creates a landscape where consumers may feel protected but face significant vulnerability when claims actually arise.
Shifting policy risk from Citizens Property Insurance Corp. to small private firms has additionally created an ecosystem where the financial burden is concentrated among companies that may not survive a major catastrophe.
Troubling Performance Stats
• Florida leads the nation in unpaid property claims: 40.3% closed with no payout.
• Florida ranks first in policy non-renewals: 3.3% of all in-force policies.
• Florida ranks fourth in delayed claims: 32.8% delayed more than 60 days.
Lawmakers Step In: New Bills Aim for Transparency
State Sen. Carlos Guillermo Smith has introduced two bills—SB 234 and SB 230—seeking to increase oversight, require public disclosure of insurer affiliate payments, cap managing agent fees, and limit what financial data insurers can hide by labeling it a “trade secret.”
If enacted, these bills could represent a meaningful shift toward consumer protection and market accountability.
What This Means for Homeowners, Agents, and Industry Professionals
For homeowners, the message is clear: insurance costs may remain high, and claim reliability is far from guaranteed. For real estate agents and brokers, understanding these risks is essential for advising clients and navigating transactions.
Professionals in the insurance field—especially those entering or advancing their careers—should closely follow these developments. Knowing how Florida’s market truly functions can be a major competitive advantage.
That’s where strong professional education comes in. If you’re looking to build or expand your credentials in insurance, real estate, or mortgage services, high-quality training matters. Cameron Academy offers licensing and continuing education programs designed to help professionals stay ahead in challenging markets like Florida’s.
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!
After nearly 20 years under uniquely harsh lending rules, Florida may finally see its condo market freed from a 25% down payment requirement imposed only on the state. Industry leaders say Fannie Mae could announce changes as early as December—potentially restoring the standard 10% down payment used everywhere else in the country. Experts believe the shift would boost maintenance funding, improve affordability, and stabilize Florida’s condo market after years of strain.
Phoenix’s commercial real estate market is shaking off years of uncertainty as broker optimism hits its highest level since interest rates began climbing. The latest ASU Commercial Broker Sentiment Index soared to 62.7, signaling strong confidence across multifamily, retail, office, and capital markets. With population growth accelerating, interest rates easing, and AI boosting industry efficiency, Phoenix is positioning itself for a powerful run into 2026—offering meaningful opportunities for both new and seasoned real estate professionals.
Michigan’s House Rules Committee heard testimony on a proposal that would let licensed professionals complete all required continuing education online. Supporters say the change would modernize outdated rules, reduce costs, and improve access for rural and busy workers. The state licensing department backs the measure, and lawmakers noted it could reshape CE options across industries from real estate to insurance and healthcare.
Florida homeowners are now paying an average of $5,838 per year for insurance — nearly $3,000 above the national average — making it one of the most expensive states in the country. As premiums continue to triple for some residents, many are being forced into tough decisions, from delaying home improvements to dropping coverage altogether. With more than 40% of claims closed with no payment and lawmakers pushing for aggressive reforms, the crisis is reshaping Florida’s housing market and placing growing pressure on real estate, mortgage, and insurance professionals statewide.
Griffin Funding has elevated John Jones to Senior Vice President of Growth and EOS Integrator, marking a major step in the company’s long-term expansion strategy. Already a key operational leader since April 2025, Jones will now drive performance optimization, market expansion, and leadership development as the lender pursues an ambitious goal of reaching $3 billion in annual non-QM loan volume by 2030. His promotion underscores Griffin Funding’s commitment to scaling strategically while strengthening its position in the fast-growing non-QM space.
Despite recent Federal Reserve rate cuts, commercial real estate remains frozen. Long‑term Treasury yields continue to climb, keeping borrowing costs high and preventing the relief investors expected. With nearly $1 trillion in commercial loans coming due, refinancing at today’s elevated rates is squeezing owners, slowing transactions, and creating a widening gap between buyers and sellers. For patient, well‑capitalized investors, this period of recalibration may offer some of the strongest opportunities in years.
