Find Insider Deals for items perfect around the house and on the goIn Duval, Clay, St. Johns, and Nassau counties, property insurance premiums rose by an average of 13.5% from 2023 to 2024Charles Grainger cleans up around his house in the historic district of French Quarter Creek as flood waters recede from Tropical Storm Debby, Wednesday, Aug. 7, 2024, in Huger, S.C.
News4JAX spoke with Mark Friedlander from the Insurance Information Institute to get his perspective on these increases. “It’s understandable the concerns of consumers when they see renewals that are still pretty high, but the good news is the market’s heading in the right direction,” Friedlander said.
Friedlander indicated that the damage from the hurricane, while significant, is considered manageable within the current reinsurance structures.