MIAMI-DADE COUNTY, Fla. – Gov. Ron DeSantis says Florida’s insurance market is seeing improvements, with more companies writing policies and increased competition driving rates down for many homeowners.
“More attention has been paid on this issue in four to five years than has ever been paid to it in the history of Florida,” DeSantis said while speaking at Florida International University on Wednesday.
New data shows nearly 73% of Miami-Dade policyholders and 52% in Broward County will see premium reductions — on average more than 6% in Miami-Dade, slightly less in Broward.
“They think they can do similar or even reductions in terms of the premiums if they are confident rules remain the way they are,” DeSantis added.
State leaders say it has been six years since major reforms aimed at making Florida’s insurance market more attractive to providers.
“The reforms are working,” said Florida Insurance Commissioner Michael Yaworsky. “It does take time for consumers to truly feel all those effects.”
DeSantis is also pushing lawmakers to increase funding for the “My Safe Florida Home” grant program, which helps homeowners strengthen their properties against storms.
“If you’re going to do it and you have people on the waitlist, you might as well do it now and put the funding out there,” he said. “Because if they wait and put it in the actual budget, the fundings are not even going to be available until July 1.”
