|
Florida homeowners to see insurance surcharge
end 2 years early, saving $650 million |
|
Article Courtesy of FOX 29 WFLX
By Mark Sczesny
Published March 9, 2026
|
|
Florida homeowners will soon see relief on their
insurance bills after the Florida Insurance Guaranty Association
announced last week it is ending a 1% emergency surcharge two years
ahead of schedule.
|
The surcharge had been in place for three
years, originally implemented after 10 insurance companies
went out of business. Ending it early could save
policyholders up to $650 million over the next two years —
about $31 a year for the average homeowner.
Officials say a quiet 2025 hurricane season, no new
insurance insolvencies and legislative reforms that reduced
lawsuits made the early end possible.
"Florida's property insurance market today is in its
strongest financial position in a decade," Mark Friedlander
of the Insurance Information Institute said.
The assessment officially ends Oct. 1.
|
|
|
|
