The long-term effects remain to be seen. New report predicts massive change coming to home insurance prices: 'Going to affect the whole homeowner's market greatly' first appeared on The Cool Down.

Citizens Property Insurance Corp. saw a record-breaking decrease in policies, indicating a potential recovery in Florida's private insurance market. Some lawmakers argue that shrinking Citizens might not be the best measure of a healthy insurance market.

In a legal battle between Citizens Property Insurance Corporation and Mayra Avila, the Florida Third District Court of Appeal upheld a lower court's ruling in favor of Avila. The decision, issued on February 26, 2025, reaffirmed that jury verdicts should stand if supported by substantial evidence, rejecting Citizens’ appeal.

The state’s Citizens Property Insurance Corp. last week shed about 100,000 policies, with its number of customers dropping to the lowest total in nearly three years.

The ruling serves as a cautionary tale for homeowners seeking to file insurance claims for weather-related damages. It reinforces the necessity of reporting damages promptly and highlights the evidentiary challenges of linking property damage to specific storms after extended periods of time.

Two different proposals are aimed at the same thing — reducing home insurance costs. Both would need to be approved by Florida voters.