Florida Governor Ron DeSantis has proposed over $600 million in the state’s $115 billion budget for fiscal year 2025-26, allocating funds to programs aimed at lowering homeowners insurance costs. This represents an increase compared to last year’s proposal.
Approximately $590 million of the budget is designated for the My Safe Florida Home program, a “home-hardening” initiative designed to provide wind mitigation upgrades. These upgrades help fortify homes against hurricanes, potentially leading to lower insurance premiums. The allocation includes $480 million to address the backlog of 45,000 homeowners with completed inspections currently on a waiting list. An additional $109 million in recurring funds, starting next year, is set aside for 10,000 more inspections and grants.
The budget also includes $30 million for the state’s Condo Pilot Program. This program, similar to the My Safe Florida Home program, assists condo associations with hardening upgrades, repairs and improvements with the goal of reducing associated costs. Condo owners have faced some of the highest insurance fees and premiums.
In addition to these programs, about $6 million is earmarked for the rehabilitation of insurance companies and $1.1 million for Governor DeSantis’s request to the Office of Insurance Regulation to expand services. Commissioner Mike Yaworsky of the Office of Insurance Regulation stated, “Florida’s Office of Insurance Regulation is proactively taking steps to strengthen the insurance market and support policyholders. I want to thank Governor DeSantis for leading to promote a strong and stable marketplace.”
The budget also contains $506.2 million allocated toward workforce assistance initiatives, including $100 million for the Hometown Heroes Housing Program. This program aims to make housing more affordable for eligible community workforce members and their families. In total, the Governor requested close to $1.1 billion toward housing-related expenses.
The final budget will be determined by state lawmakers during the legislative session in Tallahassee, which begins March 4.
