HOA Insurance Premiums Have Doubled Since 2020, Driving Dues Up 30-50%

HOA master insurance premiums — covering buildings, common areas, and liability — have increased 50-100%+ since 2020 in disaster-prone states like Florida, California, Louisiana, and Texas. Insurers are exiting these markets entirely: Citizens Property Insurance (Florida's insurer of last resort) saw its policy count surge as private carriers left. The premium increases flow directly into monthly dues, which have risen 30-50% in affected communities over 2-3 years. Homeowners have no ability to shop for their own coverage because the master policy is a board decision, and they have no ability to reduce the risk profile of the building they share with 50-200 other owners. Retirees and fixed-income owners who budgeted for $500/month dues now face $750-800/month with no end in sight. This persists because climate risk repricing is structural, HOA boards lack the negotiating power of large real estate portfolios, and the insurance market for aging condo buildings is shrinking rather than expanding. Homeowners are trapped: they cannot opt out of the master policy, cannot sell easily because buyers see the rising dues, and cannot vote to reduce coverage without violating mortgage lender requirements.