High homeowners insurance rates scaring away Florida homebuyers, other states face the same issue

Florida is in the middle of an unprecedented insurance crisis. The state has the highest homeowners' insurance rates in the country, an Insurify study found.

These record-high rates are driving potential homeowners away, especially in coastal areas where rates are highest. 

Realtors in the state cite the aftermath of Hurricane Ian as one of the largest factors driving rates up, a Bloomberg article reported. After Hurricane Ian, rates shot up by 42%, according to the Insurance Information Institute.