According to a new study by Cygnal, a private polling firm. 59% of Florida voters believe their personal finances have gotten worse compared with just one year with more people concerned about home insurance rates.
According to the Insurance Information Institute, Florida insurance premiums have gone up by 300% in the last five years. The average cost of home insurance in the U.S. is $1,700, whereas Floridians pay over $4,200 annually if they can get insurance at all. The U.S. Census Bureau shows that nearly 276,000 people left Florida in 2022, and it’s believed that skyrocketing insurance premiums motivated many of the departures.
Keeping parts of the economy of Florida’s coastal counties dependent on the ocean and bays stable is becoming a challenge. Called the “Blue Economy”, the rising seas and warming oceans are threatening the economic web.
