Florida Homeowners Insurance Costs Continue to Soar

Homeowners insurance rates in Florida are expected to increase by 40% in 2023 due to inflation and severe weather, making it the highest average insurance premium in the US. The population boom in Florida during the pandemic has also contributed to the rising rates. To mitigate the cost, homeowners are advised to shop around for the best rates, bundle insurance policies, increase deductibles, and research discounts. However, the rapidly rising cost of property insurance may make it difficult for some Floridians to maintain their homes.