Florida, like a number of other states, is facing a crisis due to the rise in the cost of property insurance. The reason for this in Florida is due to the damage caused by hurricanes such as Hurricane Ian, which hit Fort Myers Beach last year, costing insurance companies billions. Many insurers have left the state, and the ones that remain continue to raise rates. These increases make it increasingly more expensive to own a home, and condo owners are facing much higher HOA fees. This is especially hard on Florida retirees on a fixed income. If this continues, many will be forced to sell and move to less expensive states. I don't know what the solution is - I know nothing about the insurance business besides paying the premiums. Politicians in Florida claim that getting more insurance companies to do business in the state would increase competition and lower costs, but even if this is true, it does not appear to be happening. The governor is too busy banning books and running for president to pay any attention to the matter. It's all about priorities, I guess. And by the way, the photograph above of sunset over the St. Lucie River was taken a short walk from the condo in Stuart, Florida that my sister Susan and I inherited from our mother, and are currently renting out to help pay for all of those damned expenses.
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