Jacksonville homeowners insurance<\/a>\u00a0compared to homeowner\u2019s insurance in south Florida and the rates can be as much as 25%-50% higher.<\/p>\nWhy is this? It would appear that the south part of the state is more prone to losses due to hurricane damage and exposure. Historically speaking this might be true but let\u2019s take a look at the past two hurricane seasons. Especially Hurricane Irma.<\/p>\n
How Storms Have Affected the State<\/h2>\n
Hurricane Irma was on track to be a Cat 5 storm and a direct hit on Miami 48 hours before landfall on the Florida Keys, Cujo Key and then again on Marco Island on the Southwest Coast of Florida. Had it kept that track it would have been the worst-case scenario for Florida homeowner\u2019s insurance and even Jacksonville homeowner\u2019s insurance ever.<\/p>\n
As the storm shifted west before landfall it actually was not worst case, but bad enough case to have major questions about homeowner\u2019s insurance in Florida moving forward. The storm caused\u00a0damages in every single county in the state of Florida!<\/strong><\/p>\nThe Magnitude of Damage<\/h2>\n
As of October 6th, according to the Florida Office of Insurance Regulation, there have been over 700,000 claims filed. The projected losses are currently over $4.5 billion and that number will escalate. In just over a month, over 24% of claims have been closed. To show how this was a statewide event the number of claims per county are staggering.<\/p>\n
\n- Jacksonville insurance claims are over 29k in Duval County alone<\/li>\n
- Brevard County 32k<\/li>\n
- Broward 57K<\/li>\n
- Collier County 48k<\/li>\n
- Lee County 53k<\/li>\n
- Dade County 87k.<\/li>\n<\/ul>\n
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