Insurance Exodus: AAA and Farmers Pull Out of Florida Amidst Worsening Storms

AAA will not renew a small percentage of homeowners and auto insurance policies in hurricane-prone Florida due to rising reinsurance rates following the devastating 2022 hurricane season. The affected policies are higher exposure package policies underwritten by Auto Club Insurance Company of Florida. This decision adds to the growing list of insurers limiting their exposure in the state, leading to concerns about rising home insurance costs and limited options for homeowners.