Secure Your Housing: Homeowners Insurance Landscape in Key Biscayne, Florida


In the picturesque enclave of Key Biscayne, Miami Florida, homeowners face a growing crisis that threatens the very essence of their coastal living: the escalating challenges of securing affordable and reliable homeowners insurance. A recent piece by Hillard Grossman in Islander News delves deep into the complexities of the home insurance market on this idyllic island, spotlighting the findings from the J.D. Power 2023 U.S. Property Claims Satisfaction Study alongside personal stories from residents grappling with soaring premiums.

The State of Homeowners Insurance in Key Biscayne

Key Biscayne stands as a microcosm of Florida’s broader insurance predicament, marked by the retreat of large national carriers and the rise of local insurance companies. The J.D. Power study, which saw Erie Insurance leading in customer satisfaction, reveals a stark reality for Key Biscayne residents, with Chubb being the only top national home insurance company offering windstorm protection, albeit to a limited clientele through a surplus program.

Local Perspectives on the Insurance Crisis

The narrative of Key Biscayne residents tells a tale of mounting despair as insurance premiums climb, pushing the dream of island living out of reach for many. State Senator Alexis Calatayud and insurance industry experts weigh in on the legislative and market-based initiatives underway to mitigate the crisis. Despite these efforts, the challenge of enticing insurers back to Florida, particularly to high-risk areas like Key Biscayne, remains daunting.


  1. Why is homeowners insurance becoming unaffordable in Key Biscayne? The convergence of Florida’s high exposure to hurricane and windstorm risks with the departure of large national insurance carriers has led to a market dominated by local insurers, driving up premiums for Key Biscayne residents.
  2. What efforts are being made to address the insurance crisis in Key Biscayne and Florida at large? Legislative measures and industry efforts aim to stabilize the market by attracting more insurers to the state and enhancing the affordability and reliability of homeowners insurance, though progress is slow.
  3. How does the J.D. Power 2023 U.S. Property Claims Satisfaction Study impact Key Biscayne residents? The study highlights the limited options available to Key Biscayne homeowners, underscoring the importance of customer satisfaction ratings in choosing an insurer amidst a challenging market.
  4. What are the specific challenges of insuring properties in Key Biscayne? Key Biscayne’s coastal location makes it highly susceptible to storm damage, complicating the underwriting process and leading to higher insurance costs.
  5. Can Key Biscayne residents expect any relief in insurance premiums in the near future? While efforts are ongoing to reform the market, significant relief remains uncertain. Homeowners are encouraged to explore all available options and engage in community and legislative advocacy for more immediate solutions.

Case Study: Addressing the Homeowners Insurance Crisis in Key Biscayne, Florida


Key Biscayne, a serene and picturesque island located off the coast of Miami, Florida, is known for its beautiful beaches, lush landscapes, and affluent residential areas. However, the idyllic community faces a significant challenge that threatens the financial stability and peace of mind of its residents: a growing homeowners insurance crisis. This case study explores the dynamics of the homeowners insurance market in Key Biscayne, leveraging insights from the J.D. Power 2023 U.S. Property Claims Satisfaction Study and the personal experiences of local homeowners.


  1. Limited Insurance Carrier Presence: Among the top national home insurance companies, only Chubb maintains a presence in Key Biscayne, offering windstorm protection through a surplus program to a select group of customers.
  2. Soaring Insurance Premiums: Residents have experienced a sharp increase in insurance premiums, making it increasingly difficult for many to afford their homes.
  3. High-Risk Area: Key Biscayne’s susceptibility to hurricanes and windstorms makes it a high-risk area for insurers, contributing to the reluctance of large national carriers to serve the local market.


The primary goal was to understand the root causes of the insurance crisis in Key Biscayne and explore potential legislative and market-based solutions to provide residents with access to affordable and reliable homeowners insurance.

Actions Taken:

  1. Legislative Efforts: State Senator Alexis Calatayud and other lawmakers initiated discussions and efforts to address the insurance crisis, focusing on legislation aimed at attracting more insurers to the state and reducing the financial burden on homeowners.
  2. Market Solutions: Insurance industry professionals explored various strategies to stabilize the market, including the creation of more robust reinsurance programs and incentives for insurers to offer coverage in high-risk areas like Key Biscayne.


  • Increased Awareness: The publication of the challenges facing Key Biscayne in Islander News, coupled with the findings of the J.D. Power study, raised awareness of the issue among residents, lawmakers, and industry professionals.
  • Ongoing Legislative Action: While immediate relief was limited, the efforts of State Senator Calatayud and colleagues laid the groundwork for potential future legislative changes aimed at reforming the homeowners insurance market in Florida.
  • Community Engagement: Key Biscayne residents became more engaged in the conversation around insurance reform, advocating for solutions that would enable them to protect their homes and maintain their lifestyles without financial strain.

The homeowners insurance crisis in Key Biscayne underscores the broader challenges facing coastal communities in Florida. Despite the daunting task of overhauling the insurance market, the combined efforts of residents, lawmakers, and industry experts highlight a community’s resilience in the face of adversity. This case study not only sheds light on the complexities of the insurance landscape in Key Biscayne but also serves as a call to action for continued collaboration and innovative thinking to secure a sustainable future for homeowners insurance in high-risk areas.


The homeowners insurance market in Key Biscayne reflects a broader crisis facing Florida, with the specter of climate change only amplifying the urgency for innovative solutions. As the community, industry experts, and lawmakers grapple with these challenges, the resilience of Key Biscayne’s residents shines through, emblematic of their commitment to safeguarding their homes and way of life against the tempests of nature and the market alike.

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