In this photo made in a flight provided by mediccorps.org, receding storm waters surround homes in a community near Keaton Beach, Fla., following the passage of Hurricane Idalia, Wednesday, Aug. 30, 2023. and that has some experts warning that a direct hit from a major hurricane could bankrupt the state-run property insurance company.
How much do you pay?: There’s conflicting data on how much the average Florida resident pays for property insurance In the event of a major hurricane, state leaders warn that Citizens Property Insurance claims-paying fund could be exhausted. “They have a long way to go to get to what they call manageable risk. That would be about 400,000 to 500,000 total policies,” he said.
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