Vice President Kamala Harris highlighted the urgent home insurance crisis in Florida while speaking on Wednesday on The Weather Channel.
Many insurance companies have withdrawn from hurricane-prone areas, including Florida, leaving homeowners to grapple with the challenge of finding affordable coverage.
“It’s a big issue,” Harris said. “I was an attorney general for two terms in California, dealing with this around wildfires, and we’ve seen it happen in various places around the country, whether it’s floods, tornadoes, hurricanes, or wildfires, where insurance companies are pulling out, and homeowners and renters are left footing the bill.”
Furniture and personal items destroyed by Hurricane Helene flooding are piled up outside homes ahead of the arrival of Hurricane Milton in Bradenton Beach on Anna Maria Island, Florida, on October 8, 2024.
Rebecca Blackwell/AP Photo
The vice president stated she will explore all available options, emphasizing the need for support to help individuals recover from disasters.
“It really is life changing in so many tragic ways,” Harris said. “And so I will be taking a look at this as we go forward.”
Citizens Insurance, Florida’s largest insurer, has warned its policyholders to prepare ahead of Hurricane Milton. Two natural disasters back-to-back will undoubtedly put further pressure on Florida’s already fragile insurance market.
Florida homeowners already pay the highest insurance premiums in the country, averaging $11,163 a year as of July 2024, according to data Insurify shared with Newsweek. The national average premium at that time was $2,435 per year. The state’s vulnerability to hurricanes and tropical storms has driven up home insurance prices.
Michael Mims boards up his home ahead of Hurricane Milton on October 8, 2024, in Fort Myers, Florida.
Marta Lavandier/AP Photo
Earlier this year, Florida regulators approved proposals allowing private insurers to take policies from Citizens Property Insurance Corporation. The Florida Legislature created Citizens in 2002 to provide coverage to property owners who can’t find insurance in the private market. Citizens plans to transfer over 600,000 policies to private insurers starting in late October, responding to overwhelming demand.
Homeowners filing claims after Hurricane Helene and Milton may face challenges as insurers continue to reduce coverage, raise deductibles, and tighten policy terms to counter financial pressures from natural disasters and underwriting losses. With higher deductibles for wind damage, homeowners with minor losses may not receive coverage.
The Florida Office of Insurance Regulation reports homeowners and businesses have filed 84,400 claims since Hurricane Helene, including 42,219 residential claims. Insurers have closed 1,340 of these claims with a payment and 2,712 without a payment. More than 38,000 insurance claims remain open.
A damaged garage that caved in after a tree fell on it during the remnants of Hurricane Helene is shown on October 4, 2024, in Asheville, North Carolina.
Jeff Amy/AP Photo
Hurricane Milton is projected to make landfall on Florida’s western coast Wednesday night, with winds expected to exceed 100 mph. The storm surge could reach as high as 15 feet, accompanied by up to 18 inches of rain. The timing of the storm’s arrival during the dark hours further intensifies the risks it poses.
Harris emphasized the importance of assessing areas in Hurricane Milton’s projected path and urged those unable to evacuate on their own to contact FEMA, along with state and local officials, for assistance.
“They know how to help people access resources for mobility, transportation, housing, and basic necessities during this crisis. It’s important to reach out and understand that there are people available, willing, and able to assist, including those who need help with medical care or have physical disabilities and require extra assistance,” Harris said.
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