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Part-Time Florida Residents Could Face Doubled Home Insurance Rates from Citizens Insurance

nbc2 citizens insurance doubling home ins.png
nbc2 citizens insurance doubling home ins.png

Citizens Insurance May Double Home Insurance Rates for Part-time Florida Residents: A Cause for Concern

Living in Florida, commonly known as the Sunshine State, comes with its fair share of challenges. From year-round heat to the occasional hurricane, residents must always be prepared for the unexpected. One of the vital aspects of protecting one’s property is having reliable home insurance coverage. However, part-time Florida residents may face a shocking revelation, as Citizens Insurance, the state’s largest property insurer, is contemplating doubling home insurance rates for this particular group of homeowners.

The Impact of Part-time Residents

Part-time residents make up a significant portion of Florida’s population. These individuals often own vacation homes or spend a portion of their year in the state, enjoying its pleasant climate and attractions. While they contribute significantly to the local economy and enhance the vibrant tourism industry, their presence also affects the housing market and insurance rates.

Housing Market Implications

The influx of part-time residents has driven up property prices in several popular areas of Florida. As they purchase homes, demand increases, and consequently, so do prices. This surge in housing costs has made it exceptionally challenging for full-time residents, including essential workers, to afford homes within their local communities. As a result, many are forced to move to more affordable areas or accept long commutes to work.

Insurance Rate Adjustments

One of the factors affecting home insurance rates is the overall risk exposure of the insured properties. The densely populated areas and the desire to live near the coast make Florida particularly prone to natural disasters, such as hurricanes. The increased value of homes, coupled with the heightened risk exposure, amplifies the potential for insurers to bear higher costs.

For this reason, Citizens Insurance plans to double home insurance rates for part-time residents. The rationale behind this decision is to shift the financial burden associated with increased risk exposure and rising property prices onto those who contribute to this upward trend in the housing market.

Controversy and Concerns

While Citizens Insurance might argue that the new home insurance rates for part-time residents are a fair and necessary measure, this decision has not been well-received by everyone. Several concerns and controversies have emerged regarding this potential change.

Impact on Part-time Residents

Part-time residents, who may already face financial challenges associated with owning a second home, will likely be hit the hardest by this rate adjustment. Some of them rely on rental income to cover their housing costs, and a sudden increase in insurance rates may force them to raise rental prices, potentially driving away tourists and visitors. Others may find it difficult to afford such a significant increase, which could lead to financial hardships or even foreclosure.

Real estate Market Implications

Florida’s real estate market heavily depends on the presence of part-time residents. If the proposed rate doubling discourages this group from purchasing homes in the state, it could have a detrimental effect on property values. A decrease in demand could lead to a surplus of vacant homes, contributing to a downward spiral in the housing market and potentially harming both full-time and part-time residents alike.

The Role of Government and Insurance Companies

As debates surrounding this possible increase in home insurance rates for part-time Florida residents continue, it becomes essential to evaluate the roles of both the government and insurance companies in the matter.

Government Intervention

The government has a responsibility to ensure the well-being of its citizens, both full-time and part-time residents. While it is crucial to address the rising costs and risks associated with the housing market, elected officials must consider the potential consequences of doubling insurance rates. Collaborating with insurance companies and finding alternative solutions that distribute the burden more equitably could be a more favorable path forward.

Insurance Company Accountability

Insurance companies, including Citizens Insurance, should not solely rely on increasing rates to offset higher costs. It is crucial for these companies to explore various approaches to risk management and cost allocation. By investing in technology, data analysis, and mitigation strategies, insurers can reduce their financial exposure while still offering affordable and comprehensive coverage to part-time residents.


As Citizens Insurance contemplates doubling home insurance rates for part-time Florida residents, it is crucial to consider the potential consequences of such actions. While the intention behind this rate adjustment may be to address the heightened risk exposure and rising property prices, the decision could disproportionately affect part-time residents and have wider repercussions for the housing market as a whole. A balanced and collaborative approach between the government, insurance companies, and the affected residents is necessary to ensure both risk mitigation and affordability in the increasingly complex Florida housing market.


Written By

Avi Adkins is a seasoned journalist with a passion for storytelling and a keen eye for detail. With years of experience in the field, Adkins has established himself as a respected figure in journalism.

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