Complete Insurance Authority Group, Inc.

“The average cost of homeowners insurance across Florida increased by about 40% in 2023 alone, according to reports, and homeowners association (HOA) fees are multiplying for many condo buildings,” the Redfin report said. “In addition to slowing demand, the rising cost of insurance and fees are pushing prices down.”

Florida Condo Sales, Prices Have Fallen Thanks to Insurance, HOA Costs, Redfin Says Condominium sales and prices in Miami, Jacksonville and Tampa and other parts of Florida have dropped over the past year, largely due to the soaring cost

Three Florida insurance carriers, one large and two small, are seeking approval for major rate increases, with one condominium policy increase as high as 103%.

Florida Regulators Now Reviewing Rate Hikes of 14%, 62% and 103% Three Florida insurance carriers, one large and two small, are seeking approval for major rate increases, with one condominium policy increase as high as