Ron DeSantis and the Florida Legislature could reduce insurance rates right now. A giant insurance company is standing in the way.
Ron DeSantis and the Florida Legislature could reduce insurance rates right now. A giant insurance company is standing in the way.
Lawmakers have a way to save Florida homeowners $150 a year but State Farm doesn’t like it
Written By: Jason Garcia
In January, Gov. Ron DeSantis and the Florida Legislature had a chance to save money for Florida homeowners who are struggling to afford the soaring cost of property insurance.
Members of a key committee in the Florida Senate were presented with a plan that could have cut the price of homeowner’s insurance by an estimated $150 a year. And it would have done so without simultaneously imposing hidden costs on homeowners — like insurance policies that won’t cover the cost of replacing a roof or legal changes that make it much harder to fight back against a big insurer in court.
The plan involved expanding a public insurance fund known as the “Florida Hurricane Catastrophe Fund.” And it had support from a broad spectrum of industry interest groups and a bipartisan coalition of elected officials.
But the Big Business lobby hated it.
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