Property Insurance
A new UNF poll finds nearly two-thirds of Florida homeowners worry more about insurance than property taxes.
For over a year, Gov. Ron DeSantis has touted getting rid of property taxes on homesteads as the best way to help homeowners deal with the state’s affordability crisis. Though many cities and counties have maintained the same millage rates for years, DeSantis attacked them.
“While Florida property values have surged in recent years, this has come at a cost to taxpayers squeezed by increasing local government property taxes,” he said in his State of the State address in March.
He later called for a June special session to consider a constitutional amendment aimed at delivering broad property tax relief for Florida homeowners.
- DeSantis said, “Florida homeowners need relief. Now is the time to stand up for taxpayers, enact a historic reform, and save the home of every Floridian.”
Homeowners See It Differently
Well, Florida homeowners want relief, but nearly two-thirds are more concerned about property insurance than property taxes, according to a new poll released today by the University of North Florida Public Opinion Research Lab.
- Despite DeSantis saying repeatedly that the state’s insurance market is improving, a majority see little evidence of it.
The Public Opinion Research Lab at UNF surveyed 1,511 Florida homeowners with property insurance between July 16 and July 31.
When asked whether they were more concerned about property taxes or property insurance, 63% said insurance is the bigger concern, compared with 36% who chose property taxes.
- The sentiment crossed party lines, with a majority of Democrats, Republicans and independents saying property insurance was the greater concern.
Coverage Changes
Many homeowners said they have experienced changes to their insurance coverage in recent years.
- 54% said they changed their primary insurer at least once in the past five years.
- 33% said they had changed insurers two or more times.
- Among homeowners who changed insurers, 47% said they were dropped. That included 25% who said they were dropped by Citizens Property Insurance, 12% who were dropped by a private insurer and 10% whose previous insurer stopped operating in Florida.
- Overall, 25% of those surveyed said they had been dropped from their insurance at least once in the past five years.
Premium increases: Many have been hit with steep hikes. Among respondents who had lived in their home for at least five years, 47% said their annual insurance premium had increased by at least 50% over that period.
Florida’s Homeowners Insurance Market
- 55% see no signs of improvement
- 26% say the market is getting worse
- 18% say the market is improving and rates are likely to come down
Who’s Benefiting?
The poll found that 69% of respondents believe the insurance industry has benefited the most from recent insurance reforms. Only 16% said consumers benefited the most.
The survey has a margin of error of plus or minus 3.18 percentage points. UNF weighted the data to match the population of Florida homeowners based on factors including age, race and ethnicity, sex, geography, education and partisan registration.