Florida Ranks #1: Most Dissatisfied Home Insurance Customers

TAMPA, Fla., Sept. 25, 2023 /PRNewswire/ -- Clearsurance.com's recent report on homeowners insurance in Florida shows that customers in Florida are more dissatisfied than customers in any other state.

There are several issues that Florida homeowners encounter that make their home insurance situation more challenging than in other states.

Hurricanes in Florida Lead to Increased Risk

One of the most significant risk factors for Florida homeowners is hurricanes. And with hurricane season in full swing, it's something on most Floridian's minds.

According to Clearsurance.com, since Hurricane Andrew, the home insurance market in Florida went from 6% local providers to 70% local providers. Many national home insurance providers have pulled out of the Florida market because of the high risk of claims.

Many home insurance providers in the state have strict restrictions for the age of roofs that they will cover, although recent legislation has addressed this issue.

Natural Disasters Impact Regions, Not Singular Homes

Florida residents who experience home damage due to a hurricane often have to wait months before their claims are approved and reconstruction can begin. That leads to frustration and dissatisfaction.

When a single home is impacted by a storm, rebuilding can be expedited, but when an entire town is hit, resources are stretched thin, and the timeline stretches.

Lawsuits Contribute to High Insurance Rates

Florida residents often fall victim to insurance fraud or predatory practices. As a result, insurers pay far more than the national average in claims. They must then charge homeowners higher premiums to remain solvent.

Recent legislation seeks to address this issue, as well.

Hope for Florida Home Owners

Melanie Musson, a nationally recognized insurance expert with Clearsurance.com, offers this advice, "Compare home insurance quotes between companies, and remember to include both regional and national companies." By comparing quotes, homeowners can find the best providers to offer coverage for their situation.

Homeowners can also save by bundling insurance policies. Companies that offer both home and auto insurance usually provide a discount to customers who purchase both lines through them.

In addition to finding ways to save, Florida lawmakers are prioritizing the home insurance situation in the state. They are seeking ways to work together to improve the insurance climate and help customers get the coverage they need.

Read Clearsurance.com's full report here: Cheapest and Best Homeowners Insurance in Florida.

SOURCE Clearsurance.com