Rising Insurance Costs in Florida: Are Residents Feeling Relief?
Florida homeowners continue to struggle with rising property insurance costs, despite legislative efforts aimed at stabilizing the market. A recent survey from the Associated Industries of Florida (AIF) reveals that insurance remains the top financial concern for many residents, surpassing even the cost of food and housing.
Legislative Changes and Market Conditions
In 2022, Florida lawmakers enacted reforms to reduce lawsuits against insurance companies, believing litigation was driving insurers out of the state and pushing up costs. Since then, lawsuits have decreased, and new insurers have entered the market. However, these changes have not translated into financial relief for policyholders.
According to AIF’s Q1 2025 poll, 33% of Floridians ranked insurance costs as their most pressing financial issue, up from 21% the previous year. This increase highlights a growing frustration among homeowners who have yet to see lower premiums or improved affordability.
A Political and Economic Concern
While state leaders emphasize improving conditions in the insurance industry, public perception tells a different story. The AIF survey also found that 42% of respondents believe neither political party is effectively addressing rising insurance costs, further reflecting widespread dissatisfaction.
Additionally, Florida’s hurricane risk continues to make insurance a costly necessity, contributing to an ongoing affordability crisis. Despite policy changes, many homeowners are still waiting for meaningful relief.
What’s Next for Floridians?
As the state heads toward the 2026 election, property insurance will likely remain a key issue for voters. Policymakers must address lingering concerns and ensure that legislative reforms translate into tangible benefits for homeowners. Until then, Floridians will continue to navigate an uncertain insurance landscape.
Do you feel like recent reforms have helped ease your insurance burden? Share your thoughts in the comments below.