Following the impact of Hurricanes Helene and Milton, Florida’s property insurance market is showing signs of resilience, according to Insurance Commissioner Michael Yaworsky. Despite challenges, major insurers like USAA, Progressive, and State Farm are expanding their operations in the state, influenced by reforms enacted in 2023. Recent data indicate a decline in homeowner insurance rate requests and a growing number of companies participating in Florida’s Citizens Property Insurance program. Reinsurance costs have also decreased, with many carriers spending less than the previous year, suggesting a stabilizing market environment.
