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submitted 1 year ago by MicroWave@lemmy.world to c/news@lemmy.world

The skyrocketing cost of insurance premiums in Florida is leading residents to drop their insurance, consider selling their home, and even move out of the state, according to recent reports.

For years now, the sunny, vibrant state has been a magnetic destination for many Americans—a phenomenon which has been driving up demand for housing, especially during the pandemic, as well as home prices.

But while Florida was the number one state in the country that people moved to in 2022, it was also the one with the highest number of residents wanting to relocate, according to a SelfStorage.

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[-] TechyDad@lemmy.world 30 points 1 year ago

I'm sure DeSantis can fix this by just "fighting woke" more, right? /s

[-] rchive@lemm.ee 12 points 1 year ago

He probably does think that. He could spin rising premiums as speculation based on climate change belief.

[-] limelight79@lemm.ee 9 points 1 year ago

Watch: More legislation on insurance prices in the state.

Or, they could pull a North Carolina and outlaw any discussion of sea level rise.

[-] sukhmel@programming.dev 4 points 1 year ago

Seriously, there are places where climate change (discussion) is banned? This is mind blowing

We should just ban it everywhere, and that's it, problem solved 🤦‍♂️

[-] ____@infosec.pub 2 points 1 year ago

Lord, don't even get me started on NC property insurance. Their solution to increasing rates for many years was to mandate that rates couldn't exceed x, based on what they believed was appropriate.

Protip: It wasn't appropriate. I've been out of that game for long enough now that I don't know if they ever fixed it, but it was bad - basically if you couldn't write a policy within x% of the expected rate, the risk had to be ceded to the state's reinsurance facility, which drastically limited the available coverage.

[-] alekwithak@lemmy.world 5 points 1 year ago
[-] flerp@lemm.ee 4 points 1 year ago

He can't beat big business. If he tries it will ruin him even more than he is already ruined. Give him all the ideas.

[-] Joker@discuss.tchncs.de 1 points 1 year ago

He will pass a new law allowing him to fire insurance companies’ boards and install his own people. Make America Florida! Yeehaw!

this post was submitted on 23 Oct 2023
683 points (97.5% liked)

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