As Hurricane Season Hits, More Homeowners Pushed to Floridas Last-Resort Insurer | Insurify [Video]

Since the beginning of the 2024 hurricane season, Citizens Property Insurance, Florida’s insurer of last resort, picked up more than 20,000 home insurance policies in June and another 6,776 by mid-July, according to the insurer’s data. This uptick is in direct contrast to Florida’s legislative efforts to bolster the commercial home insurance market, reduce Floridians’ dependency on Citizens Property, and lower its total policy count.

As of July 12, Citizens Property had 1,220,271 multi-peril home insurance policies on its books. While that number is well below the insurer’s highest levels of more than 1.4 million policies last year, it’s also far higher than the 500,000 or fewer policies the insurer is aiming for.

With many high-risk states like Florida facing a probable “hurricane season from hell,” some insurers are already sending out non-renewal notices. When homeowners can’t find coverage through the standard home insurance market, they turn to Citizens Property Insurance.

Florida’s home insurance struggles

Floridians …