JACKSONVILLE, Fla. – With skyrocketing property insurance and the cost of housing among the biggest concerns for Floridians, according to a new UNF poll, two Republican lawmakers recently introduced a couple of bills aimed at giving relief to homeowners. However, some experts say that if approved, the bills might have the opposite effect.
On Tuesday, the University of North Florida (UNF) released the results of a statewide poll that asked more than 800 active registered voters across Florida what their biggest concerns were, and most said the cost of housing and insurance.
RELATED | UNF Poll: Housing, insurance costs among biggest concerns for Florida voters
Two Republican lawmakers, State Senator Don Gaetz of Crestview and Representative Alex Andrade of Pensacola, have introduced Senate Bill 554 and House Bill 451 in the Florida Legislature.
These bills aim to provide relief to Floridians by reintroducing one-way attorney fees, which would require insurers to cover the legal fees of plaintiffs.
However, this proposal is already facing opposition.
Mark Friedlander, a spokesman for the Insurance Information Institute, warns that this legislative change could lead to an increase in lawsuits and higher costs.
“It’s always been an issue,” Friedlander said. “It’s been an escalating issue, not only in Florida, but across the country.”
The UNF poll reveals that 34% of respondents consider property insurance and housing as the state’s most pressing problem, while 21% point to the economy, jobs, and inflation. Immigration and education follow at 9% each.
Gaetz and Andrade argue that despite Florida being a high-risk market, there are legislative steps that can improve rate setting and expedite claim processing.
“We believe there are steps the Legislature can take to improve how rates are set and how individual claims can be processed faster and fairer,” Gaetz and Andrade said in a news release.
Friedlander and others in the insurance industry expressed concern that reintroducing one-way attorney fees could reignite the property insurance crisis.
“Their constituents are complaining that Florida’s insurance market is still too expensive,” Friedlander noted. “The legislative changes that have already been implemented are working. We have hard data that supports this is working, and it will benefit all Florida consumers.”
Lawmakers are also considering additional measures to reduce property insurance costs, such as encouraging home hardening, providing tax incentives for insurance companies, expanding windstorm coverage options, and potentially regulating the reinsurance market to stabilize costs.
News4JAX reached out to Reps. Andrade and Gaetz for comment on the proposed legislation but at the time of this publication, we hadn’t heard back.
The legislative session is set to begin on March 4.