From Florida to California, dwindling insurance options
As Hurricane Idalia barreled through Florida Wednesday, thousands of homeowners faced the possibility of rebounding without property insurance.
In the past few years, nearly a dozen property insurers in Florida have liquidated. More have either left the state or restricted coverage, including Farmers Insurance, which pulled out of the Sunshine State last month. Other states prone to high-risk weather events are also losing insurance options. In Louisiana, two dozen insurance companies have dissolved or left since 2020. In California, three of the five largest insurers are limiting new policies or have stopped offering them altogether.
Insurers say payouts are outpacing revenue, as housing costs rise and climate
