More than half of Florida homeowners say the state's insurance market has not improved, even as state officials insist their reforms are working.

A poll first reported last week by the Sun Sentinel and Orlando Sentinel found 55% of policyholders see no signs of improvement. Another 26% said the market is getting worse. The survey of 1,511 policyholders, conducted with the University of North Florida's Public Opinion Research Lab, is part of "Uncovered," a joint investigation into the effects of the state's 2022-23 property insurance overhaul.

The poll also found that 69% of homeowners believe the reforms favored insurers over consumers. Sixty-three percent said property insurance is a bigger problem than property taxes. Nineteen percent reported a premium increase of 50% or more in a single year.

Condo owners face steep insurance increases

For condo owners in Aventura, Sunny Isles Beach and Golden Beach, those numbers land on top of costs that were already climbing fast. Commercial multi-peril premiums for Miami-Dade condo associations averaged $462,000 by the end of 2024, up from $175,000 at the start of 2021, according to Florida International University's Metropolitan Center, as the Miami Herald reported in June 2025. That is a 164% increase in less than four years.

Insurance premiums for individual condo units in Miami-Dade also rose, hitting $2,300 at the end of 2024, up from $1,600 at the start of 2021, according to the same FIU data. Statewide, Florida's average home insurance premium reached $8,471 in 2026, nearly three times the national average of $2,872, according to Insurance.com data fielded by Quadrant Information Services.

In the Miami metro area, the cost is even steeper. Homeowners pay about $22,718 per year on a median-valued home of $614,000, the highest insurance cost among the nation's 100 largest metros, according to a Realtor.com study cited by Miami New Times.

Craig Kirsner, president of Kirsner Wealth Management, told WPLG Local 10 Sept. 16 that high insurance costs and new financial requirements for building assessments are compounding the pressure on condo owners. He said the South Florida condo market has stalled.

State officials say reforms are working

State officials see a different picture. Citizens Property Insurance Corp. President Timothy Cerio told the insurer's board Sept. 23 that "the market is working," the Sun Sentinel reported. Citizens' policy count dropped to about 255,000 from 1.4 million three years ago, and its total insured value fell from $552 billion to $70 billion. Cerio encouraged policyholders facing large renewal increases to shop for private coverage.

Florida Insurance Commissioner Mike Yaworsky said Sept. 22 that since January 2024, 48 companies have filed for rate decreases and 53 have requested no change. The Office of Insurance Regulation said in May that 20 new insurers have entered the state since the reforms, bringing more than $850 million in new capital.

Still, a Weiss Ratings analysis found 14 Florida property insurers closed more than half of homeowner damage claims with zero payment in 2024, South Florida Business & Wealth reported. People's Trust Insurance closed 75.4% of claims without paying. State Farm Florida closed 59.2%, up from 46.4% the year before.

Homeowners association fees add another layer. The Miami metro's median monthly HOA fee of $617 equals 26.9% of a typical mortgage payment, the largest share in the nation, according to Realtor.com. FIU's Metropolitan Center estimates Miami-Dade condo association fees climbed more than 70% since 2016.

Miami-Dade condo inventory stood at 12.9 months of supply as of May, well above the six to nine months that signals a balanced market. Median sale prices were down 2.4% year over year, according to Miami Realtors data.

The "Uncovered" series has additional installments planned, including reports on how insurers have quietly reduced coverage and how premiums have outpaced inflation since the reforms took effect.