WEST PALM BEACH, Fla. — The cost of property insurance in Florida is expected to be a topic of discussion when lawmakers convene in Tallahassee next year. But it's still up in the air if anything new might happen.
"Do we have a perfect solution for it? No," incoming Speaker of the House Daniel Perez, R-Miami, said. "But are we going to discuss it and continue to try and find a solution that can better that problem, absolutely."
State lawmakers last took major steps on insurance in December 2022 when they passed reforms to curb insurance litigation.
Those reforms have been credited with a slow turnaround of the insurance market, with new companies coming into Florida and some rolling back rates for 2025.
"I think the Legislature needs to tread carefully," former state Sen. Jeff Brandes of the Florida Policy Project told WPTV. "The market is still in recovery and probably the best thing they can do is some minor tweaks around the edges."
State lawmakers will return for their regular session in March and the new speaker said affordability of housing and insurance will be a priority.
"I don't want to lose that next generation of talent to another state because the affordability of (Florida) has gotten too high," Perez said.
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
Read WPTV's latest "Coverage Collapse" stories below:
-
Budgeting expert offers these tips for managing post-holiday debt
37% of Americans accumulated $1,200 in holiday debt. Expert tips for managing post-holiday finances and dealing with unwanted gifts and fees.
The one mistake that turns your Christmas gift card into worthless plastic
Americans hold $23B in unused gift cards, averaging $244 each. Experts say spend them quickly to avoid losing value to inflation or closures.
Early data suggests strong holiday spending despite low consumer confidence
The holiday shopping rush isn't over just yet: the day after Christmas is expected to rank among the top five busiest shopping days of the year, according to SensorMatic Solutions.
Can’t return it? Unload unwanted holiday gifts, and maybe earn money
Not to sound ungrateful – but some gifts miss the mark. Rather than just tossing it into a closet, here are some things you can do with it, and maybe even make some money in the process.
