Survey Reveals Florida Homeowners' Insurance Concerns Amid Rising Climate Risks

A recent Florida Atlantic University survey highlights the ongoing concerns among Floridians regarding severe weather events and rising homeowners' insurance costs. Approximately 36% of respondents statewide have either moved or are considering relocating due to weather-related hazards such as hurricanes, flooding, and extreme heat. This trend is particularly notable in North Florida and parts of the peninsula, including Tampa and Cape Canaveral, where up to a quarter of residents have been influenced to move by these environmental risks. The survey underscores persistent anxiety about the increasing frequency and intensity of hurricanes, with over 60% of respondents expressing moderate to extreme concern about stronger storms and heavier rainfall leading to flooding. These environmental challenges contribute to a growing discourse about safety, affordability, and climate resilience within Florida’s residential communities. Insurance affordability is a significant factor, with nearly half of Floridians voicing concerns over the cost of homeowners' insurance as climate-related risks escalate. Despite high awareness of climate change—with 85% acknowledging its existence—the belief in human-driven climate change stands at 52%, showing variation across political affiliations. Public sentiment towards governmental action on climate issues remains divided but shows a decline from prior years, with about 60% of respondents advocating for federal or state initiatives to mitigate climate impacts. These attitudes reflect a complex interplay between lived experience, political perspectives, and economic considerations in shaping Floridians' responses to climate hazards. The survey, conducted in September 2024 with 1,400 Floridians, provides valuable insights into regional risk perceptions, behavioral responses, and insurance market implications. Understanding these dynamics is crucial for insurance professionals, policymakers, and stakeholders focusing on climate resilience, regulatory compliance, and risk management in Florida’s evolving market landscape.