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Friedman has paid for property insurance on his Coral Gables home for 17 years — but he’s now debating whether it’s still worth it in the face of rising insurance costs across Florida."We're getting to a point now where it's really math," Friedman told CBS News Miami in July 2024 (1).Even with home upgrades he's made to lower his insurance costs, he’s still shelling out over $10,000 a year."I know a lot of people have seen their premiums go up more," he said.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howDave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAPApproaching retirement with no savings? Don’t panic, you're not alone. Here are 6 easy ways you can catch up (and fast)Mark Friedlander, director of communications at the Insurance Information Institute, cited to CBS News Miami an internal study that found 15% to 20% of Floridians are forgoing home insurance. That's compared to 12% across the nation.That may not be so surprising, considering how high insurance rates have been amid a slew of major weather events and several providers fleeing the state. According to Bankrate, as of November 2025, the average annual premium for insurance in Florida is $5,838 for a $300,000 home — $3,414 more than the national average (2). Some cities in the state have excessively high insurance costs, such as Fort Lauderdale, which has an average annual premium of $10,917 for such a dwelling.Homeowners are resorting to different options in order to combat housing costs — with some moving to other states, while others are opting to abandon homeownership.Read more: Warren Buffett used 8 solid, repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich)’Despite the number of Floridians without insurance policies, Friedlander doesn't recommend this option for homeowners."Realistically, those homeowners can't afford to pay for a catastrophic loss to their property out of pocket," he told CBS News Miami.He recommends staying insured, even with Florida's extraordinary prices.Friedlander believes the cost issue is tied to homeowners who sign up with surplus line insurers, including those with properties on the coast, or those at high risk of experiencing severe weather. 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