Florida homeowners are frantically trying to shop for a new insurance policy after companies have dropped over 87,000 Florida policies. This sudden policy drop is due to expensive hurricane damage throughout the state. Did they know hurricanes Irma and Michael caused over $15 billion in claims alone? Years later, this is still having an effect. It has people asking why, in 2023, their Florida home insurance company dropped them.

Why Did Your Florida Home Insurance Company Drop You?

Along with hurricane damages, roofing damage claims are skyrocketing. The spike in claims has caused Florida home insurance costs to rise, leading major carriers to drop their customers. In addition, Florida Insurance Quotes has seen an increase in non-weather-related claims. These claims include plumbing, roof, and even landscaping issues unrelated to storms.

It is no surprise that Florida has the most expensive home insurance in the United States of America. The average premium here is almost double the national average. Unfortunately, residents can struggle to find affordable coverage with these climbing prices.

What Are The Options After The Florida Home Insurance Company Dropped The Customer?

If your Florida home insurance company drops you, you need coverage immediately. However, if the carrier has yet to decline you, it is essential to ask them if there is a chance they could. That way, you are prepared to begin shopping for a new policy.

Customers with a smaller state-based carrier who has yet to drop them should see a premium increase. Local insurance agents with Florida Insurance Quotes predict that other companies will soon follow. With a premium increase in 2024, Florida homeowners might pay twice the national average in premiums.

How Can Anyone Find A Florida Home Insurance Company That Fits The Budget?

Suppose you are trying to shop for a new Florida home insurance policy. Moreover, you are looking to save some money on your existing policy. In that case, Florida Insurance Quotes can help customers save about $1200/year on average for their Florida home insurance. With a sudden premium increase in 2024, all Florida residents want to save as much money as possible. We are the easiest way to shop and compare policy prices. It only takes seconds to receive accurate quotes from several companies in Florida Insurance Quotes. We work with only the best carriers across the state. Why wait? Instead, click on “Get A Quote” now.