TALLAHASSEE, FL – Florida homeowners, here’s some news you’ll actually want to read: several insurance carriers are cutting their rates in 2024! After a tough couple of years with sky-high premiums, relief is finally in sight.
A number of big-name companies are leading the charge:
- American Integrity Insurance Company of Florida
- American National Property & Casualty Company
- Florida Peninsula Insurance Company
- Heritage Property & Casualty Insurance Company
- Safe Harbor Insurance Company
- Southern Oak Insurance Company
- Spinnaker Insurance Company
- Stillwater Property and Casualty Insurance Company
- U.S. Coastal Property & Casualty
So, why the change?
Experts point to a mix of reforms and better market conditions as the reasons insurers are feeling confident enough to offer lower rates. It's a sign that the insurance market might finally be stabilizing after years of hurricanes, fraud, and legal challenges driving costs up.
What’s next for 2025?
While 2024 is shaping up to be a welcome break, the outlook for 2025 is still a bit hazy. Some carriers predict rates will stay stable or even go down further, but it’s all dependent on Florida’s weather (fingers crossed for a quiet hurricane season!) and continued market improvements.
For now, Floridians can take a deep breath. If your policy is renewing soon, keep an eye on those rates—you might be in for a pleasant surprise.
IF YOU WANT TO RESEARCH WHETHER YOUR RATE IS COMPETITIVE, CALL US. WE HAVE MOST OF THE CARRIERS LISTED IN THE LIST PUT OUT BY TALLAHASSEE.
Evolve insurance Group, a Former Farmers Agency
-
Tanya Rodriques Insurance Agent/Owner
- January 23, 2025
- (321) 214-8385
- Send Email
