Over the past several years, Florida homeowners have lived through one of the most turbulent property insurance markets in the country. Carriers left the state, premiums climbed sharply, and Citizens Property Insurance Corporation, the state-backed insurer of last resort, grew rapidly. For families with significant homes, the experience was often frustrating: fewer choices, narrower coverage, and renewals that arrived with little warning.
The good news is that the market has begun to change. Understanding why, and what it means for you, can help you secure stronger coverage on better terms.
What Changed: Florida’s 2022 and 2023 Reforms
A major driver of Florida’s instability was litigation. According to the Florida Office of Insurance Regulation, Florida accounted for roughly 79 percent of homeowners insurance lawsuits filed nationwide in 2020, while representing only about 9 percent of homeowners claims. Those lawsuit costs were passed on to every policyholder.
In 2022 and 2023, the Legislature ended one-way attorney fees and assignment of benefits agreements for property claims. The results have been significant. OIR’s July 2026 stability report shows Florida’s share of national homeowners lawsuits fell to about 41 percent in 2025, and its share of claims fell below 5 percent. At least 20 new carriers have entered the Florida market since the reforms.
For homeowners, this means more options are returning, particularly in the admitted and high-net-worth markets, though pricing still reflects Florida’s real hurricane exposure.
Admitted, Surplus Lines, and Citizens: Knowing the Difference
- Admitted carriers are licensed and rate-regulated by the state, and claims are backed by the Florida Insurance Guaranty Association if a carrier becomes insolvent.
- Surplus lines carriers can offer more flexible coverage and higher limits for unique or very high-value homes. They are not backed by the guaranty fund, so carrier financial strength matters even more.
- Citizens provides essential coverage when the private market will not, but its coverage is generally narrower than a high-net-worth policy, it caps dwelling coverage, and it now requires flood insurance on a phased schedule that reaches nearly all wind-covered policies by January 1, 2027.
What High-Net-Worth Carriers Look For
Private client carriers are selective, and they reward homes that are well built and well cared for. Underwriters typically focus on:
- Roof age, material, and attachment.
- Impact-rated windows and doors or approved opening protection.
- A current wind mitigation inspection.
- Updated electrical, plumbing, and HVAC systems.
- Water leak detection with automatic shut-off valves.
- Monitored fire and security alarms and backup generators.
- Distance to the coast and elevation.
Each of these improvements can widen your options, lower your premium, or both. We help our clients document them clearly so underwriters see the full strength of the home.
Why a High-Net-Worth Policy Is Different
A true high-net-worth homeowners policy is designed around the needs of significant homes and the families who live in them. Depending on the carrier, benefits may include extended or guaranteed replacement cost, cash settlement options if you choose not to rebuild, broader water damage coverage, higher limits for additional living expenses, coverage for code upgrades, and proactive risk services such as home appraisals and pre-storm consultations.
How to Strengthen Your Position at Renewal
- Start early. We begin reviewing renewals 90 to 120 days in advance, so there is time to market the policy if needed.
- Bundle thoughtfully. Placing your home, autos, umbrella, collections, and watercraft with one private client carrier can improve terms and remove gaps between policies.
- Invest in mitigation. Roof updates, impact glass, and leak detection systems often pay for themselves over time.
- Keep your insurance history clean. Small claims that could be handled out of pocket can affect future eligibility.
Understanding Carrier Financial Strength
Florida’s market includes national carriers, specialty high-net-worth insurers, and domestic Florida companies. Financial strength matters, especially after a major hurricane when claims arrive all at once. Independent rating agencies such as AM Best and Demotech evaluate insurers’ ability to pay claims. For significant homes, we focus on carriers with strong ratings, solid reinsurance programs, and a record of handling catastrophe claims well. Price is important, but the most valuable policy is one that pays promptly and fairly when you need it most.
When Citizens Is the Right Fit
Citizens plays an important role in Florida, and for some homes it is the best available option. When Citizens is used, we look for ways to supplement it, such as excess dwelling coverage above Citizens’ limits, separate flood insurance that meets Citizens’ requirement, and broader liability and contents protection through other policies. We also monitor the private market at every renewal, since homes that were difficult to place one year may become attractive to new carriers the next. Citizens’ depopulation program may also offer policyholders private carrier options, which we evaluate carefully on your behalf.
Your Advocate in a Complex Market
In a market like Florida’s, the right advisor is as important as the right policy. At Eton Bridge, we represent our clients, not a single insurer. We compare admitted, surplus lines, and private client carriers, explain the trade-offs plainly, and advocate for you at every renewal and every claim. If you would like a candid assessment of your current coverage, request a private review.
