Florida’s state legislature has mandated low rates for the past several years and that has kept the home insurance Florida rates at an artificially low price. As a consequance, many insurers were not able to earn enough revenue from premiums alone to compensate them for their high risk exposure. This has caused the carriers to compensate for this situation by raising premiums by much more than they normally would. Most homeowners will see their policies cancelled, and others will fce dramatic price increases. Particularly impacted will be those living in the higher-risk areas of Manatee and Sarasota counties.