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Will this year's hurricane season impact Florida home insurance rates in 2025?

'The insured losses from this year's hurricanes appear to be very moderate compared to what could have been much more extensive damage,' Mark Friedlander says

The end of the 2024 Atlantic hurricane season on Saturday brought a sigh of relief from all Florida residents. But will the active season impact insurance rates in 2025?

By: Matt Sczesny

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WEST PALM BEACH, Fla. — The end of the 2024 Atlantic hurricane season on Saturday brought a sigh of relief from all Florida residents.

WPTV reporter Matt Sczesny is now taking a look at what will happen to the cost of homeowners insurance following an active year in the tropics that saw 18 named storms.

Insurance companies are still going through the claims after three hurricanes — Debby, Helene and Milton — hit the state, totaling more than $5 billion so far.

"The insured losses from this year's hurricanes appear to be very moderate compared to what could have been much more extensive damage," Mark Friedlander of the Insurance Information Institute told WPTV Monday.

That is the consensus from the insurance industry.

The 2024 season, while very active, doesn't appear to have dealt a setback to Florida insurers. That likely means rates in 2025 will not skyrocket like in recent years.

"I do not believe you're going to see some wide swings you might see rates go up two or three points maybe for other sit might go down depending what they're experience is going to be with this storm," Ernie Garateix, the CEO of Heritage Insurance, told WPTV.

The hurricanes this year once again targeted the state's Gulf Coast.

However, it doesn't change any long-term risks for South Florida among insurers.

"They look at long-term trends," Friedlander said. "They don't just look at one or two years, so they look at long-term trends and patterns and clearly southeast Florida is still the most vulnerable part of the state. It has the most property at risk, meaning the most value loss potential."

Weather experts agree that Hurricane Milton's deadly tornadoes bring a new sense of urgency to hurricanes.

"This was another reminder that we have to focus not just on where the center of the storm is forecast to go but beyond the area of impact," Robert Molleda of the National Weather Service in Miami 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.