
Florida homeowners have seen some of the most expensive insurance rates in the country. But that’s starting to change. In 2024, new reforms were passed to help stabilize the market, make coverage more available, and fight the fraud and lawsuits that were driving rates through the roof. If you’re a homeowner in Florida or thinking of buying property here, these changes will affect you. At American US Insurance, we’re helping homeowners across Florida understand what these reforms mean and how to stay protected at the best possible rate.
Let’s break it down in simple terms.
What Are the 2024 Property Insurance Reforms?
In 2024, Florida lawmakers passed several insurance bills to fix long-standing problems in the property insurance system. The main goals were to:
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Lower premiums for homeowners
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Attract more insurance companies back to Florida
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Make the Citizens Property Insurance program more efficient
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Reduce fraudulent claims and lawsuits
These reforms are changing how homeowners insurance in Florida is priced and structured — and that could work in your favor.
1. Flood Insurance Now Required for Citizens Policyholders
If your home is insured through Citizens Property Insurance Corporation (a state-backed insurer), you’re now required to carry flood insurance—but only on the structure of the home. Personal belongings and contents are not required to be covered under this rule.
This helps reduce the risk of big losses after storms and helps keep the Citizens program stable.
What You Should Do:
Check with your current insurer or speak with one of our agents at American US Insurance to make sure you meet the new flood coverage requirement.
✅ Need help meeting the new flood rule? See your flood insurance coverage options.
2. Private (Surplus Lines) Insurers Can Take Over Policies
Previously, many Floridians could only get coverage through Citizens because private insurers weren’t writing new policies. Now, qualified surplus lines insurers who specialize in higher-risk coverage can take over those policies if they meet state requirements.
However, these insurers can’t charge more than 20% above what Citizens would charge for similar coverage.
Why This Matters:
This helps reduce the size of Citizens, increases competition, and gives homeowners more private-market options.
How American US Insurance Helps:
We shop across both standard and surplus markets to find competitive pricing that meets Florida’s new legal requirements.
3. Citizens' Accounts Are Now Combined
Citizens used to separate policies by type (homeowners, wind-only, etc.). Now, all these accounts have been merged into one pool. This helps the program stay solvent and ensures money is more evenly available after disasters.
It also reduces the risk that homeowners will have to pay extra fees, called assessments, after a major storm season.
4. Fraud Prevention Measures Are Stronger
Citizens is now allowed to share claims data with the National Insurance Crime Bureau. This helps detect and stop fraudulent or duplicate claims, one of the main reasons rates were so high in recent years.
Why It Matters:
Less fraud = more stable pricing for honest homeowners like you.
What Does All of This Mean for You?
Here’s what to do next if you’re a Florida homeowner:
Check Your Flood Insurance
If you're insured through Citizens, confirm that you’ve added flood coverage. If not, we can help get you compliant fast.
Review Your Options
Private insurers are returning to the Florida market. If you’re currently with Citizens, now may be the right time to review your policy and explore better options. At American US Insurance, we help compare quotes from multiple carriers to get you the best protection for the price.
Bundle for Bigger Discounts
If you’ve made updates to your home, like new windows, a roof, or hurricane shutters, make sure your policy reflects those changes. You may qualify for wind mitigation discounts or multi-policy bundles that lower your rate.
✅ Not sure where to start? It’s a great time to speak with a licensed insurance agent.
FAQ: Florida Property Insurance Reforms
Q: Who do the new flood insurance rules apply to?
A: Only to Citizens policyholders. They must carry flood insurance on the structure of the home.
Q: Can I switch from Citizens to a private insurer now?
A: Yes! If a private insurer offers coverage that is no more than 20% higher than Citizens’ rate, they can take over your policy.
Q: Will these changes lower my premium?
A: Possibly. The reforms aim to stabilize rates and reduce future increases. Working with an independent agency like American US Insurance can help you take advantage of discounts.
Q: What is an assessment by Citizens?
A: If Citizens runs out of money after paying for storm damage, it can charge Florida policyholders an extra fee. The new law combining Citizens’ accounts helps reduce this risk.
Q: How can I know if I qualify for lower rates?
A: The easiest way is to have your policy reviewed by an expert. The licensed agents at American US Insurance offer free policy reviews with no pressure.
Final Thoughts: Get Ahead of the Changes
The Florida property insurance market is changing fast. But that’s not a bad thing. These 2024 reforms were made to protect both your home and your wallet.
Whether you’re currently insured through Citizens or a private carrier, now’s the time to make sure your coverage is:
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Compliant with new laws
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Competitive in pricing
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Strong enough to protect your property from storm damage, flooding, and liability
At American US Insurance, we’re proud to be based in Miami and serve all of Florida. We’re here to simplify insurance, compare policies, and give you confidence heading into the next hurricane season.
Call us today at 1-800-868-9170 or visit amerinsured.com to speak with a licensed agent.