The Florida homeowners insurance market continues to face significant challenges, with a new report revealing troubling statistics about claim denials across the state. As a public adjusting firm serving Florida homeowners, Blueprint Claims aims to keep our community informed about these important developments.

New Weiss Ratings Report Shows Dramatic Increase in Zero-Payment Claims

According to a recently released report by Weiss Ratings, the nation’s only independent insurance company rating agency, 14 property insurers in Florida closed more than 50% of homeowner claims filed in 2024 without paying a penny to cover damages. This represents a significant deterioration from 2023, when six Florida companies closed 40%-50% of homeowner claims with no payment.

Dr. Martin D. Weiss, founder of Weiss Ratings, commented on these findings: “Last year, when we reported that six Florida companies closed 40%-50% of homeowner claims with no payment in 2023, it was alarming. But in 2024, it was far worse. Now, there are nine companies in that range plus many more closing a far higher percentage of claims with no payment.”

The Numbers: Florida Insurers with Highest Denial Rates

The Weiss report identifies several insurance companies with particularly high rates of zero-payment claim closures:

Insurance Company Name 2024 2023
People’s Trust Insurance Co. 75.4% 38.8%
Kin Interinsurance Network 68.3% 44.0%
Amer Integrity Ins Co. of Fla. 64.6% 43.9%
Olympus Insurance Co. 61.9% 37.3%
State Farm FL Ins Co. 59.2% 46.4%
Castle Key Indemnity Co. 57.2% 47.1%
Security First Insurance Co. 56.6% 35.0%
Castle Key Insurance Co. 55.1% 46.0%
ASI Preferred Insurance Corp. 53.3% 23.7%
Florida Peninsula Insurance Co. 52.8% 36.2%
First Protective Insurance Co. 51.9% 36.4%
Loggerhead Recpl Interinsurance 51.4% 22.7%
Safepoint Insurance Co. 51.2% 31.6%
Slide Insurance Co. 50.3% 30.6%

Source: Weiss Ratings. Data: Companies’ annual statements at yearend 2023 and 2024, schedule P, part 3A, columns 11 and 12, row 11.

Some notable observations from this data:

  • People’s Trust closed 75.4% of homeowner claims with no payment, nearly double its rate from 2023
  • Kin Insurance Network closed 68.3% with zero payment, compared to an already high 44% in the prior year
  • American Integrity closed 64.6% with zero payment, a sharp increase from 43.9% in 2023
  • State Farm Florida, the third largest provider in the state, closed 59.2% of claims without payment, versus 46.4% a year earlier

All 14 insurers closed a much higher percentage of claims with no payment than they did in 2023, and each exceeded the worst-performing company from the 2023 list.

What This Means for Florida Homeowners

These statistics raise important questions about the Florida insurance market and create serious concerns for homeowners. As Dr. Weiss noted: “After paying far higher premiums and suffering widespread storm damage, this is like a punch in the gut for Florida homeowners.”

While the Florida Office of Insurance Regulation and state legislature are working to address these issues, homeowners need to protect themselves in the meantime. Understanding your policy, documenting damage thoroughly, and knowing your rights as a policyholder are more important than ever.

Understanding Why Claims Are Denied

There are legitimate reasons why some claims might be denied, including:

  • Damage falling under policy exclusions (such as flood damage on a standard homeowner’s policy)
  • Failure to report claims within required timeframes
  • Insufficient documentation of damage
  • Disputes about the cause of damage

However, the dramatic increase in denial rates across multiple insurers suggests potential systemic issues that merit closer attention.

How Public Adjusters Help Navigate Claim Challenges

Given these challenging statistics, many Florida homeowners are turning to public adjusters for assistance with their insurance claims. Unlike insurance company adjusters who work for the insurer, public adjusters represent only the policyholder’s interests.

A public adjuster can provide valuable assistance by:

  • Thoroughly reviewing your policy to identify all applicable coverages
  • Properly documenting all damage with comprehensive evidence
  • Preparing accurate damage estimates using industry-standard methods
  • Handling communications with your insurance company
  • Advocating for fair claim settlement based on policy terms

Public adjusters bring professional expertise to what has become an increasingly complex and challenging process, helping to level the playing field between homeowners and insurance companies.

Taking Proactive Steps

If you’re a Florida homeowner, here are some proactive steps you can take in light of this information:

  1. Review your current policy to understand what is and isn’t covered
  2. Document your property with photos or video before any damage occurs
  3. Keep records of all home improvements and major purchases
  4. Consider your options carefully if your claim has been denied
  5. Know that resources are available, including public adjusters who can provide professional assistance

The Value of Independent Information

Weiss Ratings provides an important independent perspective on insurance companies’ financial strength and claims practices. Consumers can check their insurer’s current Weiss Safety Rating at weissratings.com/en/insurance.

As the Florida insurance market continues to evolve, Blueprint Claims remains committed to keeping homeowners informed about developments that may affect their ability to recover from property damage. While we hope you never experience a claim denial, knowing your options—including the availability of public adjusters—can make a significant difference if you do face challenges with your insurance claim.

Blueprint Claims is a Florida public adjusting firm dedicated to educating homeowners about the insurance claim process and providing professional representation when needed. For more information about how a public adjuster can help with your specific situation, contact us for a no-obligation consultation.