A New Proposal to Shrink Citizens
A new bill proposed in Florida aims to provide homeowners with wind-only insurance coverage, a significant shift in the state's approach to hurricane-related insurance policies. The legislation, introduced by State Senator Colleen Burton, seeks to offer homeowners the ability to purchase wind-damage insurance as a standalone option.
The proposed law comes as Florida faces increasing challenges from escalating hurricane risks and the fallout from a struggling insurance industry. In recent years, multiple insurers have either exited the state or faced insolvency due to mounting losses from catastrophic storms.
Under the bill, wind-only policies would allow homeowners to insure against wind damage from hurricanes—without requiring them to bundle coverage with other risks like fire, theft, or liability.
Senator Burton emphasized the need for "innovative" solutions to ensure Floridians can protect their homes without breaking the bank. "We have a responsibility to make insurance both accessible and affordable," she said during a press briefing. "This bill is about giving homeowners choices and making sure they can secure coverage that fits their needs."
Potential Impacts on Homeowners and Insurers
If enacted, the legislation could reshape Florida's insurance landscape by creating a new category of policies. Advocates believe wind-only coverage would provide a more affordable alternative for homeowners, particularly in high-risk areas where full-coverage premiums have become prohibitively expensive.