Florida lawmakers received new data on the impact of the My Safe Florida Home program on homeowners throughout the state.
On Wednesday, Steven Fielder, who oversees the program for the Florida Department of Financial Services, presented the data to the House Insurance and Banking Subcommittee in Tallahassee.
The program, which began in 2022, has impacted more than 40,000 homeowners.
Fielder revealed that a little more than half of these homeowners have experienced a reduction in their insurance premiums.
However, 13.5% of homeowners experienced an increase in their insurance premiums.
Fielder addressed questions from the subcommittee about the program’s effectiveness in reducing home insurance costs, noting that homeowners who did see a decrease in insurance premiums had an average savings of $938 in 2024.
The new data offers insights into the program’s mixed results, highlighting both savings and increased costs for different homeowners.