ROYAL PALM BEACH, Fla. — It was a bit of a surprise when WPTV started seeing texts and emails from homeowners about their insurance premiums going down.
We first got to know Lori Lanni, a Royal Palm Beach resident, in September 2023 when she came to our first home insurance town hall. At the time, the cost of her premium was surging out of control.
WATCH BELOW: Homeowners tell WPTV they're finally seeing their insurance premiums decrease
"Why are (homeowners) being punished with high premiums and cancellations, and they haven't made a single claim?" Lanni asked at the town hall.
Now, we are reconnecting with her after she recently opened her mail to find some unexpected good news. She shared that surprise update with us on Thursday.
"I just felt the need, I'm like, I got to let Matt (Sczesny) know because it's unbelievable," Lanni said.
At her Royal Palm Beach home, she showed us her homeowner's insurance renewal, which was more than $1,600 less than last year.
"It's been ages, as you know, I've been interviewed, it's been increasing and increasing and then to see this, oh my God, it was like Christmas Day, yeah," Lanni said.
She isn't the only one, either. Another homeowner in Palm Beach Gardens emailed WPTV saying his insurance went from $8,300 to $6,700.
We wanted to know if this was a new trend, like many state leaders and insurance executives have been telling me.
"We're seeing a good amount of our clients get a reduction or a very low premium increase," Robert Norberg, president of Arden Insurance in Lantana, said.
Norberg said the change is mostly from reduced litigation in the state, which is leading to more insurers and fewer rejections.
"All these new carriers are quoting, so have your carrier requote, have your agent requote, even if you got a small decrease because other markets might be interested in looking at it now," Norberg said.
Still, Norberg cautions that some homeowners will see increases, largely due to inflation.
"The modest increase is not just coming from a rate change but an increase in the replacement value of a home; the coverage goes up a little, the premium goes up a little," Norberg said.
As the insurance market in Florida shows signs of stabilizing, homeowners who are not happy with their insurance need to keep in mind that it might be worth shopping around.
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