ST. LUCIE COUNTY, Fla. (CBS12) — While insurance rates are expected to drop for many Florida homeowners next year, residents in St. Lucie County could instead see their premiums rise.
Experts say the increase isn’t tied to one single issue, but a combination of factors insurers use to price risk.
St. Lucie County’s location along Florida’s Atlantic coast places it in a higher wind-risk zone, even when storms don’t make direct landfall. On top of that, insurance companies must pay higher reinsurance costs, essentially insurance for insurers based on worst-case storm models that still rate the area as high risk.
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Claims history also plays a role. Insurers track how often claims are filed, not just how big they are, and moderate but frequent wind and roof damage claims can drive costs higher over time. The proposed changes still need state approval, but if finalized, homeowners here could pay more even as neighboring counties see relief.
CBS12 will speak with an insurance expert to break down why costs are going up, even when nearby areas are seeing a decrease.