Insurance policies in Florida have spiked this much since 2019

If your homeowners insurance has gone up a lot in recent years, you are definitely not alone.

“Yes, almost double in the last two years,” said Gabriella Hernandez, who owns a home in the Vedado neighborhood of West Palm Beach.

According to Florida Tax Watch, homeowners policies in the state have jumped on average 42.5% since 2019.

The report, published in July, blames litigation issues and claims from storms along with rising reinsurance costs.

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The report also looked into more legislative action and home hardening programs to help lower costs to homeowners.

"When you think about your household budget, how much you set aside for insurance, now it’s getting to a point where it’s taking a bite out of other expenses," said Rob Bhatt, analyst at Lending Tree.

"Some households are probably having hard conversations where the cost of insurance is getting so high," he said.

WPTV

For people like Gabriella, the options are not many.

"If we sold the house anyway, we don’t have enough money to do something different," she said.

If you have a question or comment about homeowners insurance, email me at matt.sczesny@wptv.com .