WEST MIAMI-DADE, FLA. (WSVN) - Florida Gov. Ron DeSantis announced reductions in insurance rates for some state drivers and homeowners during a visit to Miami-Dade County, and he credited recent reforms to the insurance industry.
7News cameras captured the governor on Wednesday as he walked to a podium at Florida International University’s Wall of Wind, an experimental facility where materials are put to the test against hurricane-force winds.
DeSantis said Floridians who have Citizens Insurance, which is the state-run insurance company, will likely see their rate prices go down this year. More specifically, he said, 73% of Miami-Dade homeowners with Citizens property insurance will have a rate decrease.
“The average decrease for those Citizens policy holders will be 6.3%,” he said.
The governor also said 52% of Citizens homeowners in Broward County will receive an average 4.5% rate decrease.
“We can’t control storms, we can’t control inflation nationwide. There’s a lot of things that are beyond our control, but providing a solid marketplace is one [that is within our control],” he said.
DeSantis claimed policies passed by the Florida Legislature have stabilized the insurance market in the state, and now more companies in Florida are allowing for more competitive pricing.
“Eleven new companies have entered the market in the State of Florida over the last two years. In California, that’s not happening; in other states, it’s not happening. You see companies that are leaving,” he said. “You’re never going to have a stable market if people don’t want to come in and do business here.”
DeSantis said more auto insurers are also entering the Florida market.
“The Legislature also smartly addressed some of the scams that were going on in auto insurance,” he said. “They repealed assignment of benefits for auto glass repairs, which became a cottage industry.”
The governor said some of the auto insurance rate decreases expected include:
- Geico: 10.5% decrease
- Progressive: 8.1% decrease
- State Farm: 6% decrease
Whether or private companies will slash their rates remains to be seen.
The governor did not provide a timeline on when these rate changes will happen.
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