These property insurers are vowing not to abandon Florida as hurricane threats loom

Hurricane Milton caused an estimated $55 billion in property damage in Florida, further disrupting the state's property insurance market. Despite this, several insurers plan to continue coverage in the state. Citizens Property Insurance, Florida's state-funded insurer, has become the top insurer in the state and aims to reduce its exposure to under a million policies. Citizens has seen around 80,000 claims related to Milton and expects to pay them without levying assessments on non-Citizens policyholders. State Farm Florida Insurance plans to continue its presence in the state, focusing on responsible growth to maintain financial strength. Universal Property & Casualty Insurance remains committed to the state, having navigated many hurricanes in its nearly three-decade history in Florida. Asi Preferred Insurance Corp, a subsidiary of Progressive, continues to serve Florida homeowners despite Progressive's reduction of its presence in the state. Slide Insurance Company and Castle Key Indemnity Company, the sixth- and ninth-largest property insurers in Florida, respectively, also plan to continue operating in the state. Insurers are working to balance their exposure to catastrophe risks while maintaining their commitment to Florida homeowners. The cost of protecting homes in Florida is higher than the price of insurance policies due to frequent severe weather, higher repair costs, and legal system abuse.