In 2020, the premium for Florida homeowners insurance was on average $650 greater in Florida than in most other states for comparable coverage and was projected to be $866 greater than in most other states in 2021. (Credit: PixieMe/Stock.adobe.com) In 2020, the premium for Florida homeowners insurance was on average $650 greater in Florida than in most other states for comparable coverage and was projected to be $866 greater than in most other states in 2021. (Credit: PixieMe/Stock.adobe.com)

The Florida homeowners insurance market is financially stressed. Florida domestic property insurers have reported losses for several years, and surplus decline is outpacing premium growth. As a result, Florida's homeowners face year-over-year soaring premiums and fewer choices.

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