Core Insights - Homeowners in Florida are facing skyrocketing insurance premiums, leading some, like Slake Counts, to consider not renewing their policies and even selling their homes [1][2] - Florida ranks as the third most expensive state for homeowners insurance in the U.S., with average premiums of $5,828 per year for a $300,000 home, significantly higher than the national average of $2,424 [2] - The increase in home insurance costs is attributed to rising home prices, expensive building materials, and climate change impacts, particularly in disaster-prone areas like Florida [3] Industry Trends - A significant portion of homeowners, nearly 13.4%, are either uninsured or underinsured, with the highest rates in the South at 15.7%, indicating a growing trend of consumers opting out of insurance coverage [4] - The trend of "going bare" poses risks, especially for homeowners with mortgages, as they may not be financially equipped to handle potential losses [5]