by Lauren Krakau Sunday, December 5th 2021
PENSACOLA, Fla. — Homeowner insurance rates are on the rise and many Floridians are feeling the pinch.
If rates continue to skyrocket, a woman in Santa Rosa County told Channel 3 that she is concerned her family won’t be able to make ends meet.
“I had a moment of small panic,” Jamie Grueter said.
Coming from Kentucky — Grueter knew her homeowner’s insurance would be more costly moving closer to the coast, but she didn’t prepare for the big increase.
“Since buying a home last month and having to shop around for insurance, which is checked with at least probably four companies, each one right off the bat was $3,000 – $4,000 a year,” Grueter said. “I almost fell out of my chair.”
Thankfully for Greuter — she was able to get a lower quote after redoing her roof.
Being a stay-at-home mother, she fears for future rates.
“Right now, if this goes up even higher or if we get hit with another hurricane, I’m going to have to go back to work and have to put the risk of putting my baby in daycare,” Greuter said.
The Florida Office of Insurance Regulations told Channel 3 that the insurance market is currently facing significant challenges.
Largely due to increased litigation on top of the several hurricanes the state’s experienced over the last several years.
Lawmakers say they’re trying to find a solution.
“People are barely making ends meet, we’re currently in an affordable housing crisis,” State Representative Angie Nixon said. “We at the legislatures — we are going to be talking with the office of insurance regulations to figure out what we can do to alleviate this issue.”
Until and if a change is made, the best advice homeowners like Greuter can give you — is do your research.
“Before you sign a contract, maybe call around and get quotes on that home,” Greuter said.