Nine out of 10 Florida voters have seen their cost of living rise dramatically in the past two years, and a staggering 91% of voters are concerned about the rising cost of homeowners insurance, according to a new study by Cygnal, a private polling firm.
“I have seen the price of insurance, homeowners insurance, go up, go up,” said Chanie Smith, who lives in West Palm Beach.
Premiums continue to burden many South Floridians like Smith.
“This year I’m paying over $5,000. That’s a lot compared to previous years when I was paying $1,000, $2,000. But now it’s over $5,000 just for home insurance,” Smith said.
The poll released Monday by Cygnal found that 59% of Florida voters believe their personal finances have gotten worse compared to just one year ago, with more people concerned about home insurance rates.
“I’m not shocked at all because I’m a policyholder. I happen to have Edison Insurance, which is one of our companies, but I pay the same as everybody else,” said Stacey Giulianti, co-founder of Florida Peninsula Insurance Company in Boca Raton.
Giulianti told WFLX that his company has picked up about 60,000 Citizens policies since the state-run insurer cancelled nearly 200,000 policies in October.
He said there are several layers to the ongoing crisis.
“The problem is that when you add in the cost of drywall, the cost of labour, the cost of roofing and all of that, along with some of the increased litigation costs that we’ve had over the last few years,” Giulianti said. “It’s an absolute disaster and all of that has to be reflected in the price that we charge.”
The issue remains a political hot potato.
Last week, U.S. Rep. Maxwell Frost, an Orlando Democrat, tagged Gov. Ron DeSantis in a post on X, formally Twitter, about property insurance, saying, “It’s time for real solutions.”
WFLX reached out to DeSantis’ office for comment, but did not hear back.
Earlier this month, DeSantis signed the My Safe Florida Home legislation, which is part of an effort to lower premiums.
“It’s just getting very, very expensive,” Smith said.
