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3 Florida property insurance companies announce reduction in rates, desire to give homeowners some relief

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3 Florida property insurance companies announce reduction in rates, desire to give homeowners some relief


JACKSONVILLE, Fla. – Three Florida property insurance companies have either announced a reduction in their rates or the desire to pass some relief on to homeowners.

Insurance experts call this move a glimmer of hope in an otherwise troubled insurance market in Florida.

The reductions in property insurance premiums don’t equate to a whole lot of money, but they could mean a step in the right direction.

Bridget Shearn talked about how much she pays right now for property insurance; in a house she’s owned for the past 26 years.

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″It’s huge, 4,000 is a lot of money, it’s not like I have a huge house,” Shearn said. “It went up $1,000 from last year, and from that year, it went up like $2,000.”

RELATED | 8 new property insurance companies coming to Florida to promote market stability | Property insurance expert says 8 new companies will increase competition, opportunities

News4JAX spoke with Cooper Nightingale, who said his premium skyrocketed steadily from 2019 to the present.

“When I first moved in my house I was paying, $1,600 a year, and now it’s like $5,000,” Nightingale said.

TELL US | Has your bill gone up in the last year?

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Nightingale said his premium consistently jumped 15 to 20% each year. But now, there’s some potentially good news on the horizon for Florida homeowners.

The following three companies have either reduced their rates or are seeking a rate reduction from the Office of Insurance Regulation:

  • Florida Peninsula Insurance announced a 2% average reduction in property insurance for the more than 122,000 residential policies it insures, for new policies and renewals, starting in July.

  • Slide Insurance Company is seeking a 0.5% decrease in the average rate it charges to insure single-family homes.

  • Florida Family Insurance Company is also seeking a 0.5% decrease in premiums for owners of houses, condominium units and rentals.

There’s also encouraging news from the state-backed insurance company Citizens, which posted a net income of $746 million last year, compared to a $2.2 billion loss in 2022.

Citizens has also successfully used depopulation to decrease its policy count – that’s where customers are shifted to private insurance. They’ve gone from 1.4 million customers in Sept. 2023, to 1.17 million by the end of February.

MORE | Approval of thousands of property insurance policies taken from Citizens means ‘good news’ for Florida, experts say

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The homeowners News4JAX spoke with on Monday just learned about what could be positive news. However, they remained skeptical because they hadn’t seen any relief on their premium yet.

“I don’t think so, that would be great, that would be wonderful,” Nightingale said.

Nightingale said he’d have to see it to believe it.

Fraudulent lawsuits were also a big reason for the property insurance crisis, but the reforms in the legislation last year seem to be working.

According to S&P’s global report, the spending on legal defense costs by Florida Insurance fell by approximately 4%.

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Florida still leads the nation in the number of litigated property insurance claims. But there appears some headway in this direction as well.

Copyright 2024 by WJXT News4JAX – All rights reserved.



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Florida State men’s hoops vs. SMU: Preview, how to watch, game thread

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Florida State men’s hoops vs. SMU: Preview, how to watch, game thread


Florida State men’s basketball (16-14, 9-8) finishes off its regular season with a Senior-Day matchup against SMU (19-11, 8-9). The Seminoles fell to the Mustangs 83-80 earlier in the year after trailing by double digits in the second half.

Luke Loucks’ team is coming off a 2-0 roadtrip, most recently, with a victory over Pitt on Wednesday night. The Noles finished the 2025-26 season winning five-straight road games, a feat the school has not accomplished since 1992. While Georgia Tech and Pitt, the two schools the Seminoles saw on the road trip, are not exactly Duke and North Carolina, stats like these show the progress Loucks has made in only his first year at the helm.

The shocking success in the rookie head coach’s first season makes Saturday a vital game in the ACC standings, something that felt impossible back in January when FSU was 0-5 in conference play. Florida State needs some help, but with a win today and favorable results across the league, the Noles could end up as a #7 seed in the ACC tournament, earning a bye and avoiding Duke’s side of the bracket.

Part of the reason the #7 seed is even in play for Florida State is SMU’s recent struggles. The Mustangs are currently on a three-game losing streak after seemingly being too far ahead for the Noles to chase down. The three defeats did come from the two California ACC schools on their West Coast trip and a home defeat to red-hot Miami, so not exactly the easiest games, but the Noles will take any schedule breaks they can get.

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Today’s game tips off at 2:00 PM ET on ACC Network.



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‘An ideological guest list’: Trump invites Latin America’s rightwing leaders to Florida summit

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‘An ideological guest list’: Trump invites Latin America’s rightwing leaders to Florida summit


Donald Trump will welcome the leaders of at least 10 Latin American countries to a palm-dotted golf resort in Miami on Saturday as the president continues his quest to transform the US’s standing in the region and outmuscle China.

Since returning to power last year, Trump has launched a dramatic – and at times deadly – crusade to, as the Pentagon chief, Pete Hegseth, put it, “reclaim our back yard”.

Vows to “take back” the Panama canal were followed by airstrikes on alleged narco boats in the Caribbean and Pacific, overt meddling in Brazil’s judicial system, threats of military intervention in Mexico and Colombia, and, most startlingly, the abduction of Venezuela’s president, Nicolás Maduro, and the use of Predator drones to help kill one of the world’s most wanted drug bosses, El Mencho, in Mexico.

Trump has also rescued Argentina’s president, the radical libertarian Javier Milei, with a multibillion-dollar bailout, and interfered in Honduras’s recent election in support of the eventual rightwing winner. He recently suggested a “friendly takeover” of Cuba, as his administration seeks to strangle the country’s struggling communist regime into submission by cutting off its oil supply, despite UN warnings of a humanitarian “collapse”.

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“As a critic of him, I’m the first to admit there has not been a presidency since perhaps Kennedy that has had such a profound effect on Latin America, in so many spheres of activity. The effects are real,” said a former US ambassador to Panama, John Feeley, who has likened Trump’s behaviour to that of the ruthless fictional mob boss Tony Soprano.

Trump officials describe his “Don-roe Doctrine” – a revamp of the 19th-century Monroe Doctrine by which President James Monroe sought to keep European powers out of the Americas – as an attempt to reduce Beijing’s regional footprint and impose Washington’s will through economic and military pressure.

On Wednesday, the White House press secretary, Karoline Leavitt, told reporters that Saturday’s invitation-only Shield of the Americas summit was designed “to promote freedom, security and prosperity in our region”.

Trump’s guest list includes the rightwing presidents of Argentina, Bolivia, El Salvador and Paraguay but excludes the leftist leaders of three of Latin America’s biggest economies: Brazil, Mexico and Colombia.

“This is the VIP level of the Latin America Trump Club – and this meeting really does seem to be conceived as a way to add a clear benefit to membership at that level,” said Brian Winter, the editor-in-chief of Americas Quarterly magazine.

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Winter said the conclave would be attended by “ideological fellow travellers Trump likes to take photos with”. “There doesn’t appear to be anything really earth-shattering or momentous on the agenda [although] it will surely include security, migration [and] the questions of Venezuela and Cuba.”

Trump’s Latin American aficionados have been celebrating their trip to Florida. “Paraguay will be present at this important meeting that will strengthen cooperation and joint work in favour of the security and stability of our nations,” its president, Santiago Peña, wrote on Instagram alongside an image of his invitation.

Paraguay’s president, Santiago Peña, at the inaugural Board of Peace meeting in Washington last month. Photograph: Kevin Lamarque/Reuters

Chile’s ultra-conservative president-elect, José Antonio Kast, who has promised a Trump-style immigration crackdown after he takes power next week, will also attend, as will Ecuador’s president, Daniel Noboa, who this week trumpeted joint anti-drugs operations with the US.

On Thursday, one of Trump’s most powerful officials, Stephen Miller, hinted at more such collaboration, claiming the region’s drug traffickers could only be defeated with military force.

“Not a single one of your nations should tolerate the existence of a single square mile of territory that is under the control of any entity other than the sovereign governments of your country,” Miller told Latin American military heads, calling drug cartels “the Islamic State and the al-Qaida of the western hemisphere”.

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Winter said rubbing shoulders with Trump made sense for rightwing politicians keen to show voters they were tough on crime. “Security is the number one issue in Latin America today and the Trump administration is in a unique position to help in a way that produces domestic political benefits for these leaders. Nobody has the intelligence, much less the firepower, that the US does … Virtually every government in the region is eager to have access to the intelligence that only Washington can provide,” he said, noting how Mexico’s leftwing president, Claudia Sheinbaum, accepted the CIA’s help in tracking down El Mencho.

But Trump’s Latin America strategy has also caused alarm and outrage in capitals such as Brasília and Bogotá, where officials view Maduro’s capture and US attempts to suffocate Cuba as a flagrant violation of international law.

“Cuba isn’t going hungry because it doesn’t know how to produce [food] … Cuba is going hungry because they don’t want Cuba to have access to the things that everyone has a right to,” Brazil’s leftwing president, Luiz Inácio Lula da Silva, said this week.

For now, however, such criticism has – like Europe’s response to Trump’s Iran attacks – been cautious, with politicians reluctant to offend the US president. Even Colombia’s outspoken leftwing president, Gustavo Petro, has toned down his anti-Trump rhetoric, and held a friendly meeting with the US president in the White House last month.

“What’s interesting – and somewhat surprising – is that at least so far, many countries are going along with this, whether out of convenience or fear,” Winter said. “Even some of the governments that are deeply uncomfortable with the Don-roe Doctrine are keeping their protests to themselves [and] seeking constructive relationships with Trump while quietly scrambling to diversify their relationships so that they depend less on the US.”

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Benjamin Gedan, the director of the Stimson Center Latin America programme, said the summit’s “ideological guest list” exposed the failure of Trump’s “theatrical” doctrine, and the White House’s inability to work with Latin America’s key countries.

“Brazil and Mexico comprise together more than half of the population in the region [and] more than a half of all economic activity … Throw in Colombia and you’ve got the two biggest South American countries. All [of them] completely on the outside of a US hemispheric policy – and this is the hemisphere the US supposedly dominates and [where it] demands pre-eminence,” Gedan said.



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Tallahassee gas prices rise due to Iran war; how to find cheapest pump prices

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Tallahassee gas prices rise due to Iran war; how to find cheapest pump prices


If you’re kicking yourself for not filling up your vehicle over the weekend or earlier this week, you have good reason.

Gas prices have been going up steadily — sometimes sharply — since the U.S.-Israeli strikes in Iran started Saturday, Feb. 28.

In Tallahassee, prices have jumped 26 cents from last week with an average gallon of gas currently sitting at $3.08, according to AAA. The highest price on record in Florida’s capital city was $4.84 a gallon in June 2022.

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Since Monday, March 2, Florida gas prices have jumped almost 36 cents for a gallon of regular, according to AAA.

The war is spreading throughout the Middle East and at least six U.S. soldiers have been killed, including one from Florida.

Live updates: Senate won’t check Trump’s war

Here’s what you should know as the war with Iran continues.

Florida not alone in worrying about rising gas prices

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Gas prices surge as Iran war closes Strait of Hormuz

Gas prices rise as Iran closes the Strait of Hormuz threatening oil supply and raising fears of global economic fallout.

Gas prices were already rising before the attacks on Iran began Feb. 28. It’s a regular seasonal swing as spring arrives, according to AAA. 

➤ Americans fret over gas prices as Iran war widens

Iran has retaliated with missile and drone attacks that have now killed at least six U.S. servicemembers, including one from Florida.

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➤ Florida Army Reserve captain killed in Iran war

Analysts said the war will likely drive up prices by an additional 20 to 30 cents per gallon, partly due to supply issues and partly due to global uncertainty.

Here’s a look at gas prices per gallon of regular provided by AAA this week:

  • March 5: $3.251
  • March 4: $3.19
  • March 3: $3.061

Compare to:

  • Week ago: $2.983
  • Month ago: $2.891
  • Year ago: $3.107

What’s average price of gas in Florida?

AAA posted the average price in Florida on March 5 was $3.241, slightly less than the national average of $3.251.

Here’s a comparison of the daily average price of a gallon of regular this week as provided by AAA:

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  • March 5: $3.241
  • March 4: $3.198
  • March 3: $3.068
  • March 2: $2.883

In comparison:

  • Week ago average: $2.940
  • Month ago average: $2.882
  • Year ago average: $3.084

Will Florida gas prices keep going up?

The national average price of gas is “likely to move toward $3.10 to $3.15 (per gallon) within one to two weeks … and to $3.20 to $3.25 within two to three weeks,” said Patrick De Haan, head of petroleum analysis with GasBuddy, on March 1.

On March 2, DeHaan said he expected gas prices “at average stations” nationally to increase by 10 to 30 cents in the coming week.

President Trump: Oil prices may be high ‘for a little while’

President Donald Trump told reporters March 3 oil prices may be high “for a little while.”

As soon as the war ends, “these prices are going to drop, I believe even lower than before,” Trump said. 

In a post on TruthSocial March 3, Trump said: “If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD.”

How can you find the cheapest gas?

Whether you’re traveling or at home, gasbuddy.com offers information to find the cheapest prices for gasoline.

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Enter your state, city or ZIP code to find the Top 10 gas stations and cheap fuel prices.

Cheryl McCloud is a journalist for the USA TODAY Network-Florida’s service journalism Connect team. You can get all of Florida’s best content directly in your inbox each weekday day by signing up for the free newsletter, Florida TODAY, at https://palmbeachpost.com/newsletters.



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