Rising insurance costs post-Milton
Key Questions
What were the insured losses from Hurricane Milton?
Hurricane Milton caused an estimated $30-50 billion in losses, with the RMN Dashboard reporting $36 billion in insured losses. This has contributed to a systemic crisis in Florida's insurance market.
How much have insurance premiums risen after Hurricane Milton?
Premiums have increased by 75% in the wake of the storm. The RMN Dashboard also notes forced re-pricing of inland flood exposure as a key factor.
What denial rates are Florida homeowners experiencing with insurance claims?
Citizens insurance has a 50.4% denial rate and an overall 44% non-payout rate. Roofing disputes remain a major issue for communities recovering from Hurricanes Ian, Helene, and Milton, with some $1M+ damage cases facing denials.
Milton $30-50B; premiums rising 75%; Citizens 50.4% denials; 44% non-payout rate; systemic crisis highlighted by $1M+ damage case with insurance denials (June 15). Florida homeowners split along insurance lines. RMN Dashboard notes forced re-pricing of inland flood exposure and $36B insured loss.