Florida’s economy is booming — but across the state, seniors living on fixed incomes are at risk of losing their homes over skyrocketing insurance costs. Others who lost everything in fierce and deadly storms had to battle with their insurance companies for what’s rightfully theirs.
Imagine the added panic of your insurer abandoning ship and leaving the state. This grim reality is playing out for thousands of Floridians struggling because of our state’s ongoing property insurance crisis.
In recent years, property insurance costs have massively increased for homes of all kinds — rural ranch houses, suburban bungalows, coastal condos and everything in between. Adding to the burden, Florida has become America’s inflation hotspot because of outsized housing costs. This didn’t happen overnight — and the state hasn’t done enough to protect Floridians grappling with soaring insurance costs, unaffordable premiums and the growing uncertainty of coverage.
As leader of the Florida Senate Democrats, I, alongside Leader Pro Tem Jason Pizzo, hosted a series of virtual town hall meetings this summer to offer real-time support for Floridians in crisis. Joined by experts, including Florida’s Insurance Commissioner Michael Yaworsky, Citizens Property Insurance CEO Tim Cerio, former Chief Financial Officer Alex Sink and former Insurance Consumer Advocate Sean Shaw, we answered questions live and discussed innovative solutions to this crisis, which has been brewing for at least a decade.
The cries for help from Floridians were loud and clear: “What more can be done?”
Residents Kathy, Michael and Gretchen shared heart-wrenching experiences of being priced out of their longtime homes — forced to surrender their dreams to a storm of the state’s own making. Reshandia was concerned about her senior mother’s ability to maintain her home in the face of soaring housing costs.
None of this is acceptable.
Seniors and fixed-income Floridians find themselves overwhelmed, as their retirement funds struggle to keep pace with the volatility of the state’s market. Unrest even erupted in a Pembroke Pines senior community because of skyrocketing monthly fees linked to insurance premiums. In a hurricane-prone state grappling with the impacts of climate change, this situation is unsustainable.
Over the past year alone, during regular and special sessions, Florida Senate Democrats fought for numerous measures to lower costs for ratepayers and safeguard the rights and financial stability of Florida families. Despite our tireless efforts, these crucial proposals and amendments were rejected by those across the aisle in favor of reforms that only benefited the insurance companies, not everyday people.
I just filed Senate Bill 348, to provide relief for low-income seniors. This bill would create an insurance rebate program to help the state’s most vulnerable pay steep home insurance premiums to help save their homes.
Let’s be clear: Corporate interests should never take precedence over the well-being of our residents and communities — and I want you to know that Senate Democrats and I remain undeterred in our fight for your rights. While Republicans have showered insurance companies with billion-dollar bailouts and a more lenient legal environment, Democrats have tirelessly championed direct relief for consumers.
As a reminder, elected officials are here to serve Floridians, and that’s exactly what we intend to do. For those seeking resources, contact the Senate Democratic Office at (850) 487-5833 or e-mail us at help@dearfloridadems.com.
Additionally, here’s a list of state agencies to contact with questions about your situation:
▪ Consumer Toll-Free Helpline at the Department of Financial Services, open from 8:00 am - 4:30 pm Mondays-Fridays: 1-877-MY-FL-CFO (1-877-693-5236)
▪ Insurance Consumer Advocate: (850) 413-5923 or YourFLVoice@MyFloridaCFO.com
▪ My Safe Florida Home program, which offers home inspection and hardening grants to homeowners: MySafeFLHome.com
▪ Contact your insurance agent
▪ Citizens policyholders can stay informed for any updates on rate increases or depopulation news that could affect them by calling Citizens Customer Care Center at (866) 411-2742
In the upcoming legislative session, the Senate Democratic Caucus will continue to introduce legislation fighting to ease this crisis for Floridians.
Urgency is paramount. Floridians are begging us to do more — and we must. I will continue to fight for genuine relief for all Floridians. Call your elected officials and ask them to join this fight, too.
Lauren Book is the Florida Senate Democratic Leader.