Hurricanes aren’t what’s driving up insurance rates in Florida.

[Jorge Vazquez]

Hurricanes aren’t what’s driving up insurance rates in Florida. Something something else is. From my own experience in real estate, I’ve seen firsthand how the insurance game has changed, and it’s not because of storms. Years ago, I could file claims for small, even minimal, damages on my rental properties, like a few fence pieces blown off during a storm. The system was set up to allow those claims to go through, and with the right legal help, insurance companies would often settle to avoid going to court. I’d get payouts even when the damage wasn’t significant. This wasn’t just me—this was true for most Florida property owners back then.But that kind of system can’t last forever. Lawsuit abuse and fraudulent claims, not hurricanes, were slowly bankrupting insurance companies. It got so bad that 76% of all U.S. homeowner lawsuits against insurers occurred in Florida. That’s why things changed dramatically when new laws were passed in 2022. I filed claims on those properties after the reforms, but the insurance companies stood firm this time. They didn’t have to settle anymore because the laws now make it much harder to file frivolous lawsuits. At first, it was frustrating. But after seeing how it’s starting to stabilize the market, I understand why these changes are needed.We’re not just dealing with hurricane risk in Florida—we’re dealing with a history of fraud and abuse. The long-term result will be a healthier insurance market and more manageable premiums. So, while it might feel tough in the short term, these reforms will ultimately benefit property owners for the long haul.