"Floridians are seeing homeowners insurance become costlier and scarcer because for years the state has been the home of too much litigation and too many fraudulent roof replacement schemes," Sean Kevelighan, Triple-I CEO said. "These two factors contributed enormously to the net underwriting losses Florida's homeowners insurers cumulatively incurred between 2016 and 2021." (Credit: Ingo70/Shutterstock)
As property insurers in Florida continue to fall, policyholders statewide can expect to pay three times more than the national annual average for coverage this year as the Insurance Information Institute (Triple-I) is projecting the state will see average annual home insurance costs reach $4,231 in 2022.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
