How New Laws Could Affect Property Insurance in Fort Lauderdale

Florida has recently taken considerable steps to protect its property insurance industry, including legal changes that diminish the rights of average homeowners. These changes are highly controversial, and some lawmakers are already talking about walking them back. If these laws pass, how would they affect property insurance in Fort Lauderdale? Could it soon become easier to push back against your insurance provider in court?

New Property Insurance Bills Announced in February 2025 

In February of 2025, Florida lawmakers introduced several new bills involving the property insurance industry. Some of these bills will force insurance companies to publish how much their executives are being paid – including salaries, benefits, and bonuses. These reports would be published through the Office of Insurance Regulation, and they would be freely accessible online.

 Another change would modify the way attorneys earn their fees during property insurance legal disputes. This has been a controversial issue, as many believe that the new restrictions disincentivize lawyers from helping property owners with their cases. While the details are somewhat complex, the current system generally forces property owners to pay legal fees out of their own pockets.

The new proposed system would adjust these restrictions, allowing for a “tiered approach.” Under this system, property owners could potentially have their legal fees covered – but only if the final judgment exceeds the initial settlement demand to a considerable degree.

A third proposed change would force insurance companies to provide written estimates of total losses after seven days of completing assessments. This deadline could speed up the claims process, allowing homeowners to receive compensation for damage faster. When providing these estimates, property owners would need to explain any modifications to pricing data in detail.

Opponents of these bills say that they could increase the cost of property insurance for everyone. They warn that the property insurance market in Florida is still extremely expensive, and any potential rises in costs could cause the insurance crisis to return once again.

Property Insurance is a Key Concern for Florida Voters 

Various polls have established that property insurance is a key concern for most Florida voters. In general, the cost of housing may influence these voters in upcoming elections, including not only insurance premiums but also many other living costs. Some poll respondents say that if premiums go much higher, they will be forced to stop paying for property insurance altogether.

 Contact Our Fort Lauderdale Property Insurance Lawyers Today

At Geyer Fuxa Tyler, our legal team is made up of a diverse combination of attorneys who are well-positioned to protect the legal rights and financial interests of policyholders. If your property insurance claim was denied, we can help. For a free consultation, please call us today at (954) 990-5251. With an office in Sunrise, we represent policyholders in Broward County and throughout the state of Florida.

Sources:

 insurancebusinessmag.com/us/news/breaking-news/florida-lawmakers-seek-insurance-accountability-525584.aspx

news4jax.com/news/local/2025/02/19/new-bills-target-soaring-florida-property-insurance-and-housing-costs-but-experts-warn-it-could-backfire-on-homeowners/

wokv.com/news/local/unf-poll-housing-property-insurance-costs-top-list-concerns-florida-voters/RZTOYGXBPBEO7FNLN3KGOITA5Q/