Q: What was the purpose of the January 12 press conference?
A: The press conference focused on recent changes in Florida’s insurance market, including announcements that some homeowners and auto insurance premiums may be decreasing. The goal was to highlight market trends and explain how recent reforms and increased competition could impact insurance costs.
Q: Does this mean everyone’s insurance premium is going down?
A: No. While some policyholders may see lower premiums, especially at renewal, insurance rates are individualized. Factors such as your insurer, location, claims history, coverage type, and risk profile all play a role.
Q: Who is most likely to see a decrease in homeowners’ insurance?
A: Homeowners insured through Citizens Property Insurance are among those most likely to see decreases, with average reductions reported statewide. However, private-market policies vary, and not all homeowners will experience a decrease.
Q: What about auto insurance — are rates really going down?
A: Several major auto insurance companies have filed for rate reductions in Florida. Drivers with clean records, bundled policies, or favorable underwriting factors may benefit the most, but results vary by carrier and individual profile.
Q: Why are Florida insurance premiums still considered high?
A: Florida remains a high-risk state for insurers due to:
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Hurricane and severe weather exposure
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High rebuilding and repair costs
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Past claims and litigation expenses
Even when rates decrease, they may still feel high compared to other states.
Q: If rates are decreasing, why didn’t my premium go down yet?
A: Most rate changes apply at policy renewal, not mid-term. If your policy hasn’t renewed yet, you may not see any changes until your next renewal period.
Q: Are these changes permanent?
A: Insurance markets are always evolving. While recent trends are encouraging, future premiums can still be affected by storms, inflation, claims activity, and market conditions.
Q: Should I switch insurance companies now?
A: Not necessarily. A lower advertised rate doesn’t always mean better coverage. It’s important to compare pricing and coverage terms to ensure you’re properly protected.
Q: What should homeowners and drivers do right now?
A: This is a good time to:
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Review your current policy – An informed review can help you avoid paying more than necessary while maintaining proper coverage.
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Ask questions about your renewal
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Explore whether competitive options are available
Q: How can Just Insurance Brokers help?
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Understand market changes in plain language
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Compare coverage options across carriers
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Make informed decisions based on individual needs, not headlines
Our role is to guide you through changes, not just sell policies.
Still Have Questions?
Insurance can be complex, especially during times of market change. Our team at Just Insurance Brokers is always here to help you understand your options and feel confident in your coverage decisions. You can give us a call at 305-418-4701 or email us at .
