Florida News That Impacts You – February 6th, 2025
Bottom Line: Your daily recap of the biggest news from around the state that impacts you throughout the Palm Beaches and Treasure Coast.
- Lower insurance costs are coming to Florida as policies renew in 2025 according to Governor DeSantis. At a stop in Miami, DeSantis said Citizens Property Insurance, currently the largest holder of policies in the state, will pass through rate decreases averaging 5.6% this year. The biggest beneficiaries of the rate decreases will come in Miami-Dade with nearly 75% of residents seeing a property insurance rate decrease with 50% of Broward residents seeing lower costs – however only 19% of Citizens policy holders in Palm Beach County will see lower costs this year. The governor also highlighted significant reductions in auto insurance rates by leading Florida insurers with State Farm, Progressive and GEICO reducing auto insurance policy costs by an average of 6%-10.5% this year. Related...
- DeSantis also is calling for “tripling the homestead exemption” to further limit the property tax increases Floridians have continued to endure with a robust housing market over the past decade. DeSantis indicated he’d ask the legislature to pass a bill that would place the proposal on voters' ballots in next year’s midterm elections.
- According to multiple reports Florida’s Lt. Governor Jeanette Nunez is set to resign as soon as this week as she’s expected to be named interim president of Florida International University. The vacancy would lead to another high-profile appointment by Governor DeSantis, who is term limited as governor.
- Partly cloudy skies and warm today with highs around 80 – warmer than usual for this date. Similar weather is expected to continue into next week.
- Gas prices paused yesterday after a two-day spike to start the week – though prices locally continued to rise. The average price for regular unleaded in Florida is currently $3.22 per gallon. In Palm Beach County the average price is $3.36 per gallon, in Martin the average is $3.29 and in Indian River County the average is $3.25 per gallon.