Will David Jolly's catastrophe fund raise costs for Floridians?
The plan is built to lower them by 60 to 70 percent, and it carries one rule above every other: if the costs are not lower for Floridians, it does not happen.
No. The plan is designed to lower homeowners insurance costs by 60 to 70 percent, about $4,500 a year on an average Florida policy, by moving hurricane and wind risk into a state-backed fund. The fund is built to a financially sound level and backed by reinsurance for catastrophic storms before it covers anyone, and it is paid for by insurers and other sources, with the burden coming off of homeowners. Critics say a public fund could mean assessments after a bad storm. Florida already carries exactly that exposure today, through Citizens Insurance and the state's existing catastrophe fund (which pays insurance companies, but not homeowners), and it has produced the highest premiums in America. The Jolly proposal's governing rule is plain: the costs will be lower for Floridians, or we won't do it.
The saving, and where the number comes from
Hurricane and wind risk can be 60 to 70 percent of a Florida homeowners bill. Insure.com's Florida home insurance calculator puts the average policy for a $300,000 home with a $1,000 deductible at $7,136 a year when it is priced with hurricane risk and $2,557 a year when it is not. That is a 64 percent difference, about $4,500 a year for one family.
The plan does not promise every family exactly $4,500. It removes the largest single cost from private policies and lets the private market compete on the rest. The plan, step by step.
The criticism, taken seriously
The strongest version of the argument against the plan is this: hurricane risk does not disappear when a public fund carries it, and if the fund's reserves run low after a very large storm, the state could assess policyholders to cover the shortfall. Former State Senator Jeff Brandes has made this argument, and he calls that possibility a "hurricane tax."
It is a fair question, and the plan answers it in its design. The fund does not cover anyone until a fiscally sound amount of money has been set aside. It buys backup reinsurance for catastrophic storms, so the largest losses are shared with global reinsurance markets rather than carried alone. And the Legislature writes the specific policies, including the funding, before coverage begins. The fund is built first; it is not a promise to pay for a storm with money that has not been raised.
The exposure Florida already carries
The assessment risk critics describe is not a new risk the plan would create. It is the system Florida has today.
Citizens Property Insurance, the state-created insurer of last resort, can charge its policyholders a surcharge of up to 15 percent after a deficit and then an emergency assessment of up to 10 percent a year on nearly every property and casualty policy in Florida, for as many years as it takes. The Florida Hurricane Catastrophe Fund, the state's existing catastrophe fund, can also assess policyholders statewide to pay its bonds after a large storm.
Floridians carry that exposure now, and they carry it while paying the highest home insurance premiums in the country. The plan does not add the exposure; it changes what families get for it.
The rule
The campaign has stated the plan's governing rule in one sentence: in the end, the costs will be lower for Floridians, or we won't do it. The fund is rolled out only when it is fiscally sound and reinsured, with the Legislature involved in the specific policies. That is the standard the plan is held to, and the standard the public can hold it to.
Frequently asked questions
Q. Could the state fund assess policyholders after a big storm?
The plan is built so that it does not have to: the fund is capitalized to a fiscally sound level and reinsured for catastrophic storms before coverage begins. Florida's existing system already carries assessment risk today, through Citizens' emergency assessments of up to 10 percent a year on nearly every policy and through the state's existing catastrophe fund.
Q. How much would an average family save?
Based on Insure.com's Florida calculator for a $300,000 home with a $1,000 deductible, the difference between a policy priced with hurricane risk and one priced without it is $7,136 versus $2,557 a year, about $4,500, or 64 percent.
Q. Who pays into the fund if homeowners do not?
Insurance companies, through the taxes they currently avoid, and other sources that do not fall on homeowners, such as a fee on real estate transactions or existing tourist taxes. The Legislature writes the specific funding policy. See /homeowners-insurance/how-the-fund-is-paid-for/.
Q. What happens if the numbers do not work?
Then it does not happen. The campaign's rule is that the costs will be lower for Floridians, or the plan is not implemented.
Where this comes from
The premium comparison is from Insure.com's Florida homeowners insurance calculator for a $300,000 dwelling with a $1,000 deductible. Citizens' surcharge and emergency assessment limits are from Citizens Property Insurance. The Florida Hurricane Catastrophe Fund's purpose is from the State Board of Administration. The criticism is from Jeff Brandes's opinion column in Florida Politics. The plan's design and its governing rule are from the Jolly campaign's published proposal and its September 2026 statement.
This page was last reviewed on September 15, 2026 and is re-verified as the story develops.