If you own rental property in South Florida, especially around Fort Lauderdale, you’ve probably noticed something frustrating: property insurance rates are through the roof. Over the last few years, some of our clients have seen premiums double or even triple.
As a local property manager and investor, I understand how rising costs can squeeze your margins. Let’s break down why insurance rates are climbing, how it’s impacting property owners in the area, and what you can do to stay ahead.
Why Are Property Insurance Rates So High in South Florida?
There are a few major reasons why owning rental property in Fort Lauderdale—and across South Florida—is getting more expensive when it comes to insurance:
- Storm risk. We live in a hurricane-prone zone, and insurers are adjusting their rates accordingly.
- Flood-prone areas & aging housing stock. Many properties in Broward County have older roofs and systems that raise premiums.
- Insurance company pullouts & litigation. Several carriers have left the Florida market due to increasing litigation and storm losses.
Source: AP News
Even if your property is well-maintained and located inland, you’re likely still feeling the effects.
How It’s Affecting Property Owners in the Fort Lauderdale Area
If you’re a landlord or investor, rising insurance costs are cutting into your cash flow. I’ve seen clients whose once-profitable rentals are suddenly tight on margins due to insurance alone.
Whether you’re managing one unit in Wilton Manors or a quadplex in Oakland Park, insurance is now one of your biggest line items—and for many, it’s becoming unsustainable without a proactive strategy.
What Can You Do?
Here are a few property management tips we give our South Florida clients to help them stay ahead of rising insurance costs:
- Get fresh quotes annually. Local brokers may have access to regional carriers with more favorable rates.
- Update key systems. Replacing that 20-year-old roof or retrofitting for wind mitigation can significantly lower your premium.
- Bundle and document. If you own multiple properties, bundling policies and having maintenance records can lead to discounts.
- Partner with a proactive property manager. At Certified Property Managers of South Florida, we help clients stay ahead of rising costs, manage risk, and keep their investments performing. Learn more about our services →
The Bottom Line
Property insurance in South Florida isn’t getting cheaper anytime soon, but that doesn’t mean you’re out of options. With smart planning, updates, and the right team, you can protect your property and maintain strong cash flow.
If you’re feeling the pressure of rising insurance costs in Fort Lauderdale or the surrounding areas, contact us today. We’ll help you evaluate your options, make cost-effective improvements, and keep your property profitable no matter the market.