Florida homeowners see 10.3% insurance rate drop after reforms

Florida’s property insurance landscape continues to evolve. Governor Ron DeSantis recently told insurers that the state’s legal reforms are beginning to yield results, citing declining lawsuits, moderating rate requests, and renewed market competition. With 17 new insurers entering the state and rate reductions outpacing increases, the changes could mark a pivotal moment for both the industry and policyholders. While the reforms have reduced litigation volume and encouraged more private carriers to re-enter the market, challenges remain including inflation, reinsurance costs, and catastrophic storm risks. For Florida homeowners, understanding how these developments affect coverage and claims will be critical moving forward. 👉 Read more about the state’s insurance market changes: https://lnkd.in/evxxTsDw #FloridaInsurance #InsuranceMarket #InsuranceReform #BoggsLawGroup #HomeownersCoverage

In this story from Reuters' The Insurer, PIFF's Michael Carlson shares insight on the Florida insurance market moving from deeply unbalanced to cautiously stable. More in "Reforms fuel Florida insurance revival:" https://lnkd.in/exvVFh4T

Is your home insurance truly up to date? A recent appellate decision in Pitts v. Universal Property & Casualty Insurance Company highlights the critical role of accurate insurance applications, including renewals. In this Polk County case, despite 15 years of coverage, Ms. Pitts’ estate was denied a claim for water damage after she relocated to assisted living and rented out her home. The insurance company initially honored the claim but later denied coverage because her renewal application did not disclose her absence from the home. This decision reinforces the legal principle that application accuracy can determine coverage, making it essential for homeowners to update insurers about changes in residency or property use. https://lnkd.in/eMbHNhxS #HomeInsurance #InsuranceTips #LegalUpdate #AnsbacherLaw

Florida insurers escalate the battle over public adjusters! At least six property insurers in Florida — including Velocity Risk, American Integrity, Orange Insurance Exchange, Safe Harbor, and US Coastal — are testing a new tactic: policy endorsements that discourage or even disincentivize policyholders from hiring public adjusters. The National and Florida Associations of Public Insurance Adjusters have now filed suit, arguing that these endorsements violate Florida law and amount to unfair trade practices. While surplus lines carriers like Lloyd’s syndicates can move more freely, several admitted carriers are seeking state approval for similar forms — offering premium discounts if homeowners agree not to engage public adjusters. The move highlights a growing rift between carriers seeking tighter control over claims handling and adjusters defending policyholder advocacy. Expect this battle to shape Florida’s property insurance landscape well into 2026. #Homeownersinsurance #Floridainsurance #publicadjuster #insurancenews #citizens Risk Advisors LTD https://lnkd.in/giX_cg6d

The Florida Office of Insurance Regulation (OIR) has approved Stand Insurance Exchange and Praxis Reciprocal Exchange to write property insurance in the state. #propertymanagemen #floridainsurance #condoliving https://lnkd.in/eQ8_EzW2

We got hit with a $12,000 insurance bill just for trying to sell a house… Here is what happened. Once the house was empty, our insurance company reclassified it as vacant. Vacant homes are considered higher risk, and insurers often reduce or remove coverage for things like theft, vandalism, or water damage. In our case, they treated the property like it was abandoned, not like a nicely staged home ready for showings. I had to call our agent and argue. Eventually they lowered the bill, but the warning was clear. If you are selling your house, your coverage may change the moment it is no longer occupied. Many policies trigger vacancy rules after 30 to 60 days. The lesson: If you are listing your home, call your insurance company first. Confirm what their vacancy rules are and what coverage you will have while it is on the market. A two-minute phone call can save you thousands of dollars and a lot of stress.

The Texas Department of Insurance (TDI) has published draft mandatory appraisal rules for personal auto and residential property insurance in the state, with public comment open until Oct. 6. https://lnkd.in/eTzcyCiD

Florida’s property insurance market is seeing new players. Two more homeowner insurers, including one led by the former CEO of Metromile, have been approved to join the state. Both plan to take on thousands of Citizens policies as part of the state’s depopulation effort. What does this mean for Florida homeowners navigating insurance options? 👉 Read more: https://lnkd.in/egFS3p27 #FloridaInsurance #HomeInsuranceNews #BoggsLawGroup #InsuranceUpdates

Florida’s home insurance crisis has left more than half a million homeowners with no choice but to rely on the state’s insurer of last resort. As private companies have fled the market and premiums have skyrocketed, Citizens Property Insurance Corporation has become the only remaining option for many. Read more here: https://brnw.ch/21wWgxi

This case really highlights the complexity — and importance — of clear agreements and governance structures between Authorised Representatives and their licensee networks. As the courts have reinforced, licence holders carry the ultimate responsibility for client protection and compliance, while ARs must maintain integrity and transparency in every aspect of their work. It’s a strong reminder that alignment, trust, and shared values between both parties are essential for sustainable partnerships. It also reinforces why finding the right network or AR relationship is so critical. When culture, compliance standards, and long-term vision are truly aligned, every party benefits — most importantly, the clients.