“In 2019, Florida accounted for 8.16% of all homeowners’ claims opened by insurance companies in the U.S. However, in 2019, Florida accounted for 76.45% of all homeowners’ suits opened against insurance companies in the U.S. The results for 2019 are not an anomaly. As the chart below depicts, litigation trends in Florida have been consistently many times higher than any other state."

https://www.claimsjournal.com/news/southeast/2021/04/16/303179.htm

There were a LOT of insurance scams in Florida and a LOT of lawsuits targeting insurance companies. Between the fake claims, litigation costs, and then the actual natural hazards in Florida, insurance companies were collapsing. Those that remain are charging insane rates.

Anonymous wrote:It’s because of climate change.

Climate change will batter Florida. It does not care about insurance or reinsurance or deductibles or any of it. Just science. Storms are more powerful, more frequent, with significantly more storm surge and rain. Get used to it

Anonymous wrote:It’s because of climate change.

Not really no.

It’s because of climate change.

Anonymous wrote:https://www.youtube.com/watch?v=2hfybA5_FVc&t=6s

Lol! Vote for Trump he’ll cut sales tax! So stupid…. They’re both shameless egoists. Good luck.

The insurance problem is a massive issue and perhaps unrealistic to expect DeSantis to solve- basically the market is backing away.

It’s not helped by Florida’s pervasive culture of fraud with insurers.

For their part, insurers have enormous sway in the legislature.

It’s a big problem for Florida.

After the active hurricane period of the mid-2000s, many Florida homeowner’s insurance companies switched to a reinsurance-heavy strategy.

This was bad timing because Florida went the next decade without any major hurricane strikes. During this period, the insurance companies would have been able to save lots of money, but they missed out due to switching to a reinsurance-heavy strategy.

After a quiet decade, the last few years have seen numerous major hurricane strikes. The insurance companies are completely reliant on reinsurance because they didn’t save money during the good years.

Over the past couple of years, rating companies have been downgrading numerous Florida insurance companies so they can no longer qualify for reinsurance, putting them out of business.

Millions of Floridians have been receiving notices that their insurance is being canceled right before the beginning of hurricane season. And there is no replacement, other than Citizens.

This isn't just the rich people who live on barrier islands. My 1000 square foot concrete block house, with a new roof, located 30 miles inland, lost its coverage and was uninsurable anywhere but Citizens.

Anonymous wrote:
No income tax in Florida. Me likely!!

It doesn't matter if the other taxes and insurance are more expensive than the income taxes would have been.

No income tax in Florida. Me likely!!

The only way property taxes in Florida can double is if the owner is new to Florida or it is not their primary home. Homestead limits the increase in value to 3% a year, and portability means you can take your homestead with you to your new property location. Choosing your location wisely and carrying a fairly large deductible can assist with property insurance but the Florida insurance market is awful.

Anonymous wrote:I heard a FL caller on a politics talk show say he’s holding DeSantis accountable for his property taxes and home insurance doubling in the last few years, and that it’s a big problem in florida.

Can anyone shed light on why this is happening? Any Floridians perhaps??

We normally don't allow cross-posting, but just today started a new regional forum focused on Florida. This is our first regional forum that encompasses an entire state. Perhaps you can cross-post this there?

https://www.dcurbanmom.com/jforum/forums/show/87.page

Anonymous wrote:I heard a FL caller on a politics talk show say he’s holding DeSantis accountable for his property taxes and home insurance doubling in the last few years, and that it’s a big problem in florida.

Can anyone shed light on why this is happening? Any Floridians perhaps??

Not a Floridian, but my guess is that Floridians are finally waking up to the consequences of what it means to spend 100% of your leadership time and legislative efforts on sticking it to the libs. Leaves no time to address real problems affecting the average middle class white Republican voter, such as the tripling of home insurance rates in Florida. But hey, they threw a few jabs at teachers and trans kids and that made them feel good, just maybe not “$3k in added costs per year” good.

I heard a FL caller on a politics talk show say he’s holding DeSantis accountable for his property taxes and home insurance doubling in the last few years, and that it’s a big problem in florida.

Can anyone shed light on why this is happening? Any Floridians perhaps??