Insurers Continue Reducing Coverage in Florida Due to Hurricane Risks

AAA is the latest insurer to stop renewing some home and auto policies in Florida due to challenges from natural disasters.
Multiple major insurers like Farmers and Lexington have also scaled back offerings in Florida recently.
Florida homeowners already face insurance premiums 3 times the national average, expected to rise 40% this year.
Insurers are reducing coverage in other disaster-prone states like California and Colorado as well.
Florida's insurance market has been unstable since Hurricane Andrew in 1992, worsened by climate change risks.