ORLANDO, Fla. — With the Florida legislative session now over, it’s up to Gov. Ron DeSantis to approve several measures lawmakers passed that are aimed at giving some relief to property owners.

What You Need To Know

  • The Florida Legislature passed measures on Friday to address the property insurance crisis in the state

  • One measure is designed to help homeowners by allowing other insurance carriers to take on their policies from Citizens Property Insurance

  • Officials say an increase in funds to the My Safe Florida Home program will offer more money to homeowners, including low-income residents

“I’m encouraged we’re headed in the right direction, and I think homeowners will start to see some real relief in the next year,” State Sen. Jim Boyd said.

Boyd said his bill, designed to make changes to Citizens’ property insurance, the state’s insurer of last resort, will help homeowners by allowing other carriers to take on some of the many customers Citizens took in when private insurers fled the state.

“The insurance commissioner told me last week that he’s starting to see a downward trend in rates," Boyd said. "That doesn’t mean it you get your homeowner’s bill in the mail tomorrow and it’s going to be a lot lower. It’s still working to that end."

But Democrats say it gives more relief to insurance companies than homeowners.

“We have a Citizens bill that’s going to kick people off Citizens, which is not going to offer them more relief," State Rep. Anna Eskamani said. "We have a tax break that right now can maybe give you $63 annually off your insurance taxes.” 

Part of the state budget would eliminate the tax on insurance premiums for one year.

“But it’s really just a pass-through tax break for the property insurance industry, so we continue to give the industry relief, but not really any relief for Floridians," Florida House Minority Leader Fentrice Driskell said. "What might amount to a cable bill for a homeowner is going to be hundreds of millions of dollars for the property insurance industry."

Both Democratic and Republican lawmakers agree that boosts to the My Safe Florida Home program should help. That will offer more money to homeowners, including low-income ones, to make storm-ready improvements to their homes, which should also reduce their rates.

“It’s already yielding premium reductions and their data shows it’s about eight or nine-hundred dollars per policy, those who have hardened their homes, that they're seeing savings on their insurance, so that’s significant,” Boyd said.

But Democrats insist, it’s not enough.

“We know that’s on top of people’s minds," Driskell said. "Florida’s in an affordability crisis, so it truly was a session of missed opportunities, and for me it’s really ending in a whimper."

DeSantis is expected to sign the property insurance measures into law. In remarks after the close of the session Friday, he said as much as 70% of insurance customers picked up by other companies from Citizens are seeing reductions in their premiums.