LEE COUNTY, Fla. (WINK) — Climate change is fueling higher insurance premiums for Floridians, according to a new report. 

The average home insurance premium in Florida increased 75% between 2021 and 2025, according to The Coalition for an Insurable Future. That’s roughly double the national average. 

The coalition includes economists, researchers, and former Rep. Carlos Curbelo, a Republican who represented part of Miami-Dade County in Congress. 

The number of extreme weather events increased significantly since the 1980’s, putting strain on the insurance market. There were 16 such events between 1980 and 1984, according to the report.

That increased to 112 between 2020 and 2024 – including Hurricanes Ian, the costliest storm in the history of Florida.

Billy Rodgers owns a home south of Fort Myers that flooded during Ian. Rodgers said his insurance company went bankrupt and refused to pay out his claim after the storm. 

Now, his insurance premium has increased by roughly $2,000 a year. 

“We got hit bad, everything here doubled,” Rodgers said. 

Lisa Miller, former Florida deputy insurance commissioner, said that severe weather isn’t the only problem. She said litigation increased costs for insurance companies. 

The state accounted for roughly 80% of the nation’s homeowners insurance claims, Miller said, before Gov. Ron DeSantis signed a law making it harder to sue insurance companies.

“A lot of times there was no reason to sue an insurance company,” Miller said. “It was just profitable to do so.”

The report notes that reinsurance costs also increased. Reinsurance is essentially ‘insurance for insurance companies,’ according to Investopedia. It’s when an insurer transfers some of its risk to reduce liability. 

Reinsurance costs increased 72% over the last decade, according to the report. 

All of this leads to more instability in the insurance market – and higher costs for homeowners. Almost 20% of home units in Florida are uninsured, the report said. That is the sixth highest in the country. 

Higher costs could push more homeowners out of the market, the report said, further increasing insurance premiums. 

Miller pointed out that rates have started to stabilize as more insurance companies re-enter the market. But it could take time for the price of paradise to drop in Southwest Florida. 

“It’s hurt me,” Rodgers said.