Homeowners in South Florida, specifically in Broward and Miami-Dade counties, are experiencing lower percentage increases in home insurance premiums compared to other regions in Florida, despite still having the highest rates in the state. While premium hikes have been impacted by legislative reforms intended to address costly litigation, inflation and rising reconstruction expenses continue to drive costs up. Areas along the Gulf Coast face more significant increases due to hurricane risks, yet reliance on state-owned insurance has tempered the rate increases in some counties.
The average annual cost to insure a single-family home in Broward and Miami-Dade counties increased less than in other Florida counties, offering some relief to homeowners.
Despite legislative reforms aimed at reducing litigation costs, homeowners in South Florida still face the highest insurance premiums in the state, exacerbated by inflation and reconstruction costs.
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