Many Florida homeowners are experiencing rising property insurance premiums despite state officials’ assertions that the market is stabilizing, according to a local news investigation.

Lisa Riggi, a Coral Springs homeowner for 26 years, saw her premium increase by 30% one year, followed by an additional $170 the following year. Her experience contradicts industry claims of rate reductions, leading her to consider relocating. “We’re looking at moving,” Riggi said. “It’s not affordable for us to stay here anymore.”

State officials maintain that litigation reforms implemented three years ago have strengthened the market. Michael Yaworsky, Florida’s insurance commissioner, stated that 17 new companies have entered the state and that Florida’s insurance market is “the strongest from a solvency-capitalization perspective that we’ve been in well over a decade.”

Insurance executives acknowledge they have filed for rate decreases or held rates steady. Stacey Giulianti, an executive at Windward Risk Managers, said his three companies have not implemented rate increases in recent filings. However, he explained that premiums can still rise due to inflation increasing home values and replacement costs, even when rates decrease.

Governor Ron DeSantis recently highlighted Florida Peninsula’s 8.2% reduction in its statewide average rate. Industry representatives attribute market improvements to a decrease in lawsuits following the 2022 reforms.

Officials suggest that the quiet 2025 hurricane season could bring additional benefits in 2026.

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