Buying a home in Florida? Already own one? You’ve probably felt the sting of rising insurance premiums—or worse, policy cancellations. Let’s break it all down with Orbit, your guide to smarter homeown

Buying a home in Florida? Already own one? You’ve probably felt the sting of rising insurance premiums—or worse, policy cancellations. Let’s break it all down with Orbit, your guide to smarter homeownership.

🚨 What’s Going on With Insurance in Florida?

Florida’s homeowners insurance market is in crisis. Over the past few years, major carriers have pulled out of the state or gone bankrupt, leaving fewer options and skyrocketing premiums. Some of the reasons include:

• Hurricane Risk: Big storms mean big payouts for insurers.

• Litigation Abuse: Lawsuits over roof damage and repairs drove up costs.

• Fraud & Claims Abuse: Some bad actors took advantage of loopholes.

• Reinsurance Problems: Insurers rely on reinsurance, and that market has also tightened up.

📉 How It Affects Buyers

If you're under contract on a home in Florida, especially an older one, insurance can kill the deal—or at least make it more expensive than expected. Here's what to watch for:

• 4-Point Inspections & Wind Mitigation Reports are often required.

• Homes with older roofs (15+ years) may not be insurable with private carriers.

• Flood zones? Even more expensive.

🏠 Orbit Tip: Before you fall in love with a home, get an insurance quote. We can help you connect with insurance pros who specialize in tricky Florida properties.

💸 What Homeowners Need to Know

• Your policy may not renew. Insurers are dropping customers mid-year.

• Expect double-digit premium increases—sometimes 50%+.

• Citizens Insurance (the state-run "last resort" insurer) is growing fast but comes with rules.

🛠️ What You Can Do

Whether you're buying or already own, here are a few smart moves:

• Shop around annually. Rates and underwriting vary a lot.

• Consider a roof replacement if your roof is old—insurers love new roofs.

• Bundle policies (auto + home) if possible for discounts.

• Install storm shutters or impact windows to lower wind-risk premiums.

• Use a broker who has access to more carriers, not just one company.

🧠 Orbit’s Bottom Line

Florida’s insurance mess is real—but manageable. With the right game plan, you can avoid surprises and keep your home protected without breaking the bank.

If you’re shopping for a home, make sure insurance is part of your financial picture—not an afterthought.

Ready to start your home search or talk financing? Orbit’s here to help.
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