Florida Insurers Charge More per $1,000 in Coverage, Study Reveals
Recent findings by the South Florida Sun Sentinel highlight striking disparities in property insurance costs in Florida compared to out-of-state competitors. Ranking the nearly 85 insurance companies by what they charge per $1,000 of insured value reveals that Florida-based insurers charge significantly more. Data from the first quarter of 2025 shows rates for single-family homes ranging from a staggering $14.63 per $1,000 at Clear Blue Insurance to just $1.23 for Affiliated FM.
Condominium owners in Florida also bear the brunt, paying $10.27 per $1,000—nearly double what homeowners pay for insurance on entire structures and contents. Companies involved in the state’s Citizens Property Insurance Corp. depopulation program have created an additional price swing, with higher rates per $1,000 than those of non-participating insurers.
The analysis focused not only on average premiums but also on the complexities of exposure value—covering risks like property damage from hurricanes or injuries—providing a clearer picture for consumers deciding on insurance policies. Experts explain that high costs per $1,000 typically reflect greater risks in areas like South Florida, where older homes are more predominant.
Florida-based insurers average $6.01 per $1,000, while out-of-state firms charge $3.59. Additionally, insurers that also provide auto coverage tend to offer lower premiums, highlighting a shift in business models impacting consumer costs significantly.
As insurance executives hesitate to share insights on these disparities, calls for transparency grow louder. Some industry insiders argue that the complexities of each company’s risks, claims frequency, and operational strategies influence premium pricing dramatically. Without state-mandated disclosures, consumers remain in the dark amid rising costs.
For more information, contact Ron Hurtibise at rhurtibise@sunsentinel.com.
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