Ask Nanci
Why are homeowners insurance costs going up in South Florida?
Short Answer
Homeowners insurance costs in South Florida have risen because of a mix of storm risk, claims, and the cost of reinsurance that insurers buy to protect themselves. Windstorm and flood exposure are big drivers. Mitigation features like impact windows and a strong roof can help lower your premium.
General information, not legal or financial advice.
What is driving the cost
South Florida faces significant hurricane and storm risk, and when claims are high, insurers raise premiums to cover their costs.
Insurers also buy reinsurance to protect themselves from large losses, and the cost of that reinsurance has gone up, which flows through to homeowners.
The role of wind and flood
Windstorm damage from hurricanes is a major driver, and flood is a separate risk that is covered by separate flood insurance.
A home in a higher-risk area, or one with an older roof, is typically more expensive to insure.
What can lower your cost
Mitigation features make a real difference. Impact windows, a strong or newer roof, and proper construction can qualify for discounts.
A wind mitigation inspection documents these features and can lower your premium.
What to watch for in South Florida
Insurance can be a large part of your monthly housing cost, so it belongs in every budget we build.
I cannot predict your exact rate, but I can help you get realistic quotes and ask the right questions before you commit to a home.
How Nanci can help
I help you factor insurance into a realistic budget and connect you with the right questions to ask your agent.
When comparing homes, I flag the features that make a home easier to insure, so you choose with the full picture.
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