As insurance costs rise, property owners consider self-insurance

Self-insurance, on the surface seems like a wild and desperate choice. Yet Florida's reformed — but still rather messy — insurance market has some property owners considering it.


  • By Louis Llovio
  • | 5:00 a.m. August 15, 2023
  • | 0 Free Articles Remaining!
There is a concern that if commercial property owners take on the risk of insuring their properties themselves, it will be difficult to rebuild if a hurricane hits like it did in Fort Myers Beach.
There is a concern that if commercial property owners take on the risk of insuring their properties themselves, it will be difficult to rebuild if a hurricane hits like it did in Fort Myers Beach.
Photo by Steffania Pifferi
  • Florida
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While most of the focus on Florida’s troubles with property insurance has been on homeowners, commercial property owners are dealing with many of the same issues and it’s leading some to consider self-insuring their properties.

The practice may be a solution to a complicated and expensive problem. But there is a concern it could lead to trouble down the road, particularly if a storm similar to Hurricane Ian were to strike the state again.

 

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