Homeowner insurance cost hikes grind to near stop for homeowners in September, latest data shows

"Statewide average costs for all-perils coverage of owner-occupied homes increased by $1 between August and September, from $3,747 to $3,748, according to the South Florida Sun Sentinel's analysis of the most recently released insurance cost data from the Florida Office of Insurance Regulation. That comes out to an increase of 0.03% - or less than a tenth of a percentage point."

"Of course, South Florida homeowners don't expect to pay those prices. Premiums in the region have long remained higher than the remainder of the state, due to its higher density, higher housing costs, and resulting higher costs posed by the threat of a major hurricane. Premiums closer to statewide averages can be found in the central region of the state, including the Tampa and Orlando areas, while homes in northern inland counties can typically be insured for below-average prices."

Statewide average all-perils premiums for owner-occupied homes rose by $1 from $3,747 to $3,748 between August and September, a 0.03% increase. Since January, average premiums increased 1.5%, from $3,691 to $3,748. South Florida premiums remain higher than statewide averages because of greater density, higher housing costs, and elevated hurricane risk. Central regions such as Tampa and Orlando are closer to the statewide average, while northern inland counties often have below-average prices. Condo unit coverage averaged $1,779 between August and September, up 1.3% since January. Dwelling/fire coverage averaged $2,730 and rose 2.7% since January, offering potential savings of more than $1,000 for some homeowners. Average costs decreased for 38 of 88 state-regulated insurers.

Read at Sun Sentinel