Florida's property insurance crisis has become one of the state's biggest affordability challenges, and Florida politician Byron Donalds is now pitching a plan he says would help lower homeowners' premiums.
At the center of that pitch is a six-part package, "Bring Down The Bill," which spans insurer transparency, hurricane-disaster financing, legal process changes and efforts to make homes more resilient.
Here's what to know
Rather than undoing Florida's insurance law changes enacted in 2022 and 2023, Donalds says his proposal would build on them. As Tampa Free Press reported, the package would retain the tort revisions enacted in 2022's Senate Bill 2-A and 2023's House Bill 837, while also letting policyholders and insurers choose binding arbitration as an alternative way to settle disputes more quickly.
His campaign pointed to a sharp fall in litigation costs after those laws took effect, saying expenses dropped from $820.5 million to $57.6 million.
Donalds also wants to use the Florida Hurricane Catastrophe Fund differently. His plan would lower surcharges on policyholders when the fund has ample reserves and allow insurers to combine certain reinsurance purchases through the catastrophe fund in hopes of getting better prices.
The framework would further require a public "Insurer Scorecard" showing each Florida carrier's prices, claim approval and denial rates, and how long it takes to pay claims.
TCD Picks » Quince Spotlight
💡These best-sellers from Quince deliver affordable, sustainable luxury for all
More background
Property insurance costs can shape monthly housing expenses almost as much as mortgage rates. Higher premiums can squeeze family budgets, make homes harder to sell, and raise costs for buyers already contending with elevated prices.
Storm risk, rebuilding costs, and the availability of private coverage all play into the problem. Donalds' plan includes permitting reforms, building material reviews, and reciprocal contractor licensing, measures Tampa Free Press said are intended to slow yearly increases in construction replacement costs.
The proposal also addresses Citizens Property Insurance Corporation, the state-backed insurer that often expands when private companies pull back. Citizens' active policy count has dropped from its 1.41 million peak to 293,465, according to Donalds' campaign. Donalds said he wants limits on how much Citizens can grow to reduce the risk of statewide post-storm assessments on policyholders.
In rolling out the plan, Donalds also took aim at rival David Jolly's ideas. Citing a Florida State University study, his campaign argued that moving more insurance risk onto the state could leave residents exposed to tax burdens and funding gaps after major storms.
What's being done?
A central piece of the proposal is keeping the state's litigation changes enacted in 2022 and 2023 in place, with optional arbitration added as another route for customers and insurers to resolve disagreements.
Another piece centers on the state's catastrophe backstop, with changes meant to reduce what insurers pay for reinsurance.
Home-hardening is also a major part of the package. According to Tampa Free Press, Donalds wants state agencies to better coordinate mitigation funding, including the My Safe Florida Home program, and tie grant awards more closely to the premium discounts insurers offer.
If enacted, the public scorecard could give Floridians a clearer view of how insurers handle claims and pricing, helping shoppers compare carriers beyond the premium listed on a quote.
Donalds said, "My Bring Down The Bill Plan will slash insurance costs for Floridians and make life more affordable by protecting successful existing reforms, boosting competition, and attacking remaining costs that drive up premiums."
Where can I learn more?
Here are a few stories on insurance and household-cost policy changes in Florida, Colorado, and Oregon.
• In Colorado, lawmakers proposed a new insurance bill to ease soaring homeowners premiums.
• In Florida, Senate Bill 180 could raise flood insurance costs after limiting stronger rebuilding.
• Duke Energy Florida used tax savings to avoid a 2027 customer rate hike.
• At Hunters Point in Florida, zero-energy homes with solar left some residents without power bills.
• In Oregon, officials passed a bill to cut rising energy costs for residents.
Get TCD's free newsletters for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here.
