ST. PETERSBURG, Fla — Sheryl Lucey is grateful because this year her homeowner’s insurance premium only went up by about $200. “Luckily, it’s still a pretty good enough rate that I can work with that,” she said. But mostly, she’s just happy that she has coverage for her St. Petersburg home in the first place.
We first met her in September of 2022. At that time, she’d been dumped by her previous insurer after years of massive increases to her premium… “Last week I get a letter that I’m dropped,” she said, “The only reason was ‘We’re reducing our reach in Florida.'” Lucey is now one of the 1.23 million people with a Citizens Property Insurance policy in the wake of Florida’s ongoing insurance crisis.