Homeowners sound off as insurance companies attempt 'highway robbery': 'I'm freaking out'

Homeowners insurance is skyrocketing again — and one Florida resident is calling the new rates "highway robbery," according to local outlet WestPalm CW 34.

What's happening?

Many homeowners are all too familiar with rising insurance premiums — but they've gone from frustrating to downright unaffordable for some Floridians.

Longtime resident of Jupiter Farms, Florida, Bob Denton saw his annual premium jump from around $3,800 to $18,000 in 2022 — almost five times what he was paying before. "For years, it was great," Denton said about his previous policy. But when the new price hit, he admitted, "I'm freaking out."

Even after dropping some coverage, the premium only went down to $8,300 — more than double the original rate — and then shot up again to a jaw-dropping $26,047. Ultimately, Denton had no choice but to switch to a new insurer.

Why is this concerning?

Florida homeowners aren't alone. Insurance companies across the country are pulling back coverage or raising rates, especially in areas at risk for floods, hurricanes, and wildfires. These extreme weather events are becoming more frequent and destructive as human activity pumps planet-overheating pollution into the air, fueling hotter oceans and stronger storms.

When insurers back out of at-risk areas or price policies out of reach, it leaves families vulnerable to disaster — and can even push some homeowners to sell or leave the state entirely. That creates a ripple effect on housing markets, local economies, and entire communities. 

What's being done about it?

Some states are stepping in with reforms to stabilize the insurance market. Florida, for example, passed legislation aimed at curbing lawsuits and reducing fraud, which insurers say will help bring premiums back down over time.

Homeowners can also take steps to protect their homes and potentially lower their rates. Adding storm shutters, reinforcing roofs, and clearing defensible space around homes can make them more resilient — and insurers sometimes offer discounts for these improvements.

On a larger scale, policy initiatives like FEMA's Building Resilient Infrastructure and Communities program are working to protect communities from extreme weather and mitigate future risks. Supporting these solutions can help keep insurance available and affordable — and keep families safer.

How often do you worry about your energy bills? Every day 😥 A few times a week 😟 A few times a month 🙁 Only when I pay it 😬 Click your choice to see results and speak your mind.

Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.