Comment on State Farm Florida is now the state’s second-largest home insurer. It vows to stay in Florida.

State Farm Florida is now the state’s second-largest home insurer. It vows to stay in Florida.

State Farm is becoming a good neighbor to Florida again. The company regained its position as the state’s largest private market insurer — and No. 2 insurer overall — during the first quarter of the year, supplanting longtime No. 2 Universal Property & Casualty Corp., according to an analysis of marketshare data produced by the state Office of Insurance Regulation. It’s a positive sign amid continued bad news about Florida’s insurance market, and an early indication that recent reforms could inspire more companies to expand their presence in the state. State Farm increased its number of personal residential policies from 558,604 in the third quarter of 2022 to 588,005 in the first quarter of 2023, the data shows.

 

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