Charlotte County homeowners see insurance rates spike after impactful hurricanes

PUNTA GORDA, Fla. (WINK)—Flooding during hurricane season in Charlotte County is becoming more common.

Results from Colorado State University's early hurricane season outlook indicate it could be a slightly below-average season. However, anyone living here during Ian, Helene, or Milton will tell you all it takes is one storm to change your life forever.

Mark Friedlander, the Florida spokesman for the Insurance Information Institute, said one of the many factors in insurance rates is location, and all those storms have influenced pricing in Southwest Florida. That said, Friedlander said over the last two years, Florida homeowners' premiums have essentially flattened—meaning less than 2% changes each year.

Lawrence Green lives in Port Charlotte and told WINK News a few years ago that he was paying $800, but he no longer is.

"After whatever the last hurricane was, the insurance rates went up dramatically," Green said. "We were paying about five, we were quoted five grand. We did shop around, and we did get it down to around 3,000."

Insurance experts said you might find a better rate by shopping around, but given the past few hurricane seasons, homeowner's insurance is expensive in Southwest Florida. Not a single person told WINK News they're paying less.

Friedlander mentioned two important details about changing your coverage. The first was that once a storm watch or warning is issued, you can't make changes to your policy anywhere in Florida.

The second is that it can take a month before your coverage kicks in, so it's best to get prepared now and know you're secure.