In follow up to our June update, August finds the Florida homeowners market, both in terms of capacity and pricing, under continued pressure. The top 5 carriers in the state, based upon number of clients, have filed for a combined +38% rate increase (or an average of +6.7%), with Citizen’s, People’s Trust, and Heritage leading the way for largest individual rate filing increases.

By contrast, the largest high-value home insurers in the state have filed for an aggregate increase of 7.6%, with an average of 1.7% over the year – underscoring the stability and capacity that the premier carriers enjoy as a result of thoughtful underwriting and risk management principles employed.

If a high-value homeowners option was not considered compelling from a pricing standpoint last year, 2017 has seen much of the standard markets increase rates to the point of parity with the high value home markets while the superior coverage and claims offerings of the premier markets has only strengthened.