{"id":620211,"date":"2026-10-23T16:24:36","date_gmt":"2026-10-23T16:24:36","guid":{"rendered":"https:\/\/www.olympiajournal.com\/news\/story\/620211\/1-in-5-lakeland-homeowners-now-uninsured-as-home-remodeling-lakeland-projects-surge.html"},"modified":"2026-10-23T16:24:36","modified_gmt":"2026-10-23T16:24:36","slug":"1-in-5-lakeland-homeowners-now-uninsured-as-home-remodeling-lakeland-projects-surge","status":"publish","type":"post","link":"https:\/\/www.pennsylvania-magazine.com\/news\/story\/620211\/1-in-5-lakeland-homeowners-now-uninsured-as-home-remodeling-lakeland-projects-surge.html","title":{"rendered":"1 in 5 Lakeland Homeowners Now Uninsured as Home Remodeling Lakeland Projects Surge"},"content":{"rendered":"<div style=\"float:right;width:250px;padding:8px 10px 10px 10px\">\n<div><a rel=\"nofollow noopener\" href=\"https:\/\/www.abnewswire.com\/upload\/2026\/10\/1792740646.jpg\" style=\"border:none !important\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-29\" title=\"1 in 5 Lakeland Homeowners Now Uninsured as Home Remodeling Lakeland Projects Surge\" src=\"https:\/\/www.abnewswire.com\/upload\/2026\/10\/1792740646.jpg\" alt=\"1 in 5 Lakeland Homeowners Now Uninsured as Home Remodeling Lakeland Projects Surge\" width=\"225\" height=\"150\" style=\"padding:0px 0px 10px 10px;border:0 solid !important\" \/><\/a><\/div>\n<div class=\"quotes\">\n<div>Builder carrying lumber at a house under construction shows home remodeling Lakeland projects growing amid insurance gaps. <\/div>\n<\/div>\n<\/div>\n<p style=\"text-align: justify\"><strong>LAKELAND, Fla. &#8211; October 23, 2026 &#8211;<\/strong> Nearly one in five Florida homeowners has dropped property insurance as average annual premiums hit $8,292, 181% above the national average, according to Insurify and the Coalition for an Insurable Future. The resulting gap has pushed Central Florida homeowners toward self-funded renovations, with FEMA reporting more than $1.7 billion paid for uninsured Helene and Milton losses.&nbsp;<\/p>\n<p style=\"text-align: justify\"><em>&#8220;We&#8217;re seeing homeowners who waited 18 months for a claim settlement that never came,&#8221;<\/em> said Issac Turpin, CEO of True Corp and founder of True Builders. <em>&#8220;They&#8217;ve stopped waiting on adjusters and started funding their own rebuilds. The question has shifted from &#8216;what will insurance cover&#8217; to &#8216;what can I afford to fix first.'&#8221;<\/em><\/p>\n<p style=\"text-align: justify\"><strong>Why Home Remodeling Lakeland Leads in 2026<\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li>\n<p class=\"caps\">Florida&#8217;s uninsured rate has reached 19.4% of owner-occupied homes, the sixth-highest in the nation (Coalition for an Insurable Future, 2026). The Lakeland-Winter Haven metro saw uninsured households rise 45.7% between 2023 and 2024, leaving more than 63,000 homes without coverage (U.S. Census Bureau \/ Coalition for an Insurable Future analysis).<\/p>\n<\/li>\n<li>\n<p>Hurricanes Helene and Milton generated approximately 300,000 insurance claims and contributed to an 18% premium spike in 2025 (Insurify, 2026). Insurify projects Florida&#8217;s average premium will reach $8,458 by year-end 2026.<\/p>\n<\/li>\n<li>\n<p>FEMA has provided more than $1.7 billion to Floridians for uninsured losses from Helene and Milton (FEMA Recovery Fact Sheet 073, January 2026, reaffirmed February 2026).<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><br \/>Key Statistics<\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li>\n<p>Florida&rsquo;s average annual home insurance premium: $8,292, approximately 181% higher than the national average of roughly $2,950 (Insurify, 2026).<\/p>\n<\/li>\n<li>\n<p>Florida homeowners without property insurance: 19.4% of owner-occupied homes (Coalition for an Insurable Future, 2026).<\/p>\n<\/li>\n<li>\n<p>Hurricane Helene and Milton insurance claims: approximately 300,000 claims filed, contributing to an 18% premium increase in 2025 (Insurify, 2026).<\/p>\n<\/li>\n<li>\n<p>FEMA uninsured loss payments to Floridians: more than $1.7 billion for Helene and Milton (FEMA Fact Sheet 073, January 2026).<\/p>\n<\/li>\n<li>\n<p>Home insurance rate increases nationally vs. inflation (2020-2025): 45.8% vs. 26.1%, a 1.8x faster pace (LendingTree, 2026).<\/p>\n<\/li>\n<li>\n<p>Lakeland median days on market: 77 days, with 21.1% of active listings having price cuts (PropertyIQ, 2026).<\/p>\n<\/li>\n<li>\n<p>Homeowners choosing to renovate instead of move: 65% of recent renovators (Redfin\/Ipsos survey, November 2025).<\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><br \/>What This Means for Central Florida Homeowners<\/strong><\/p>\n<p style=\"text-align: justify\">Three forces are converging on Central Florida homeowners: rising premiums, delayed claim settlements, and mortgage rate lock-in. With 78.8% of mortgaged homeowners holding rates below 6%, selling and rebuying at current rates often adds hundreds of dollars to a monthly payment. FEMA&#8217;s $1.7 billion in uninsured-loss payments confirms that many homeowners are rebuilding without adequate coverage.<\/p>\n<p style=\"text-align: justify\">For homeowners who received claim denials or lowball offers after Milton, self-funded renovation offers an alternative path. It requires a contractor who can begin work without waiting on adjuster approvals and phase projects around realistic budgets.<\/p>\n<p style=\"text-align: justify\"><em>&#8220;With mortgage rates where they are, adding a bathroom or renovating a kitchen is often cheaper than selling and buying at 7%,&#8221;<\/em> Turpin said. &#8220;Homeowners are choosing to make the home they already have work for them, and that&#8217;s a rational response to this market, not a compromise.&#8221;<\/p>\n<p style=\"text-align: justify\"><em>&#8220;The mortgage rate lock-in effect is real and measurable,&#8221;<\/em> said Dr. Lawrence Yun, Chief Economist at the National Association of REALTORS&reg;. <em>&#8220;When nearly 80% of homeowners hold rates below 6%, the math of moving becomes prohibitive. For many families, renovating the home they already have isn&#8217;t a compromise, it&#8217;s the financially rational choice.&#8221;<\/em><\/p>\n<p style=\"text-align: justify\"><strong>Q&amp;A<\/strong><\/p>\n<p style=\"text-align: justify\"><strong>Q: Why are so many Florida homeowners going uninsured? <\/strong><\/p>\n<p style=\"text-align: justify\">A: Florida&#8217;s average home insurance premium reached $8,292 in 2026, 181% above the national average (Insurify, 2026). Nationally, premiums rose 45.8% from 2020 to 2025 while overall inflation rose 26.1% (LendingTree, 2026), a gap that has pushed many homeowners past affordability.<\/p>\n<p style=\"text-align: justify\"><strong>Q: How many Florida homeowners lack property insurance? <\/strong><\/p>\n<p style=\"text-align: justify\">A: Approximately 19.4% of Florida owner-occupied homes are uninsured, the sixth-highest rate in the country (Coalition for an Insurable Future, 2026). The Lakeland-Winter Haven metro saw uninsured homes rise 45.7% from 2023 to 2024 (Coalition for an Insurable Future analysis of Census data).<\/p>\n<p style=\"text-align: justify\"><strong>Q: What should I do if my Hurricane Milton insurance claim was denied or delayed? <\/strong><\/p>\n<p style=\"text-align: justify\">A: Homeowners should document all damage, keep receipts, and confirm whether FEMA assistance applies, the agency has provided $1.7 billion for uninsured Helene and Milton losses (FEMA, 2026). For renovation projects, phasing work around available budgets can make self-pay more manageable.<\/p>\n<p style=\"text-align: justify\"><strong>Q: Is it cheaper to remodel or move in Lakeland right now? <\/strong><\/p>\n<p style=\"text-align: justify\">A: With 78.8% of mortgaged homeowners holding rates below 6% (Redfin\/FHFA, 2026), selling and buying at current rates often costs more than renovating. Redfin&#8217;s November 2025 survey found 65% of recent renovators chose to upgrade their current home instead of moving.<\/p>\n<p style=\"text-align: justify\"><strong>Q: What home improvements are most popular for homeowners staying put? <\/strong><\/p>\n<p style=\"text-align: justify\">A: Redfin&rsquo;s survey found fresh paint (47%), bathroom improvements (43%), and kitchen renovations (40%) were the most common upgrades among recent renovators. About 15% added features to improve resilience against natural disasters.<\/p>\n<p style=\"text-align: justify\"><strong>Methodology <\/strong><\/p>\n<p style=\"text-align: justify\">This analysis draws on 2026 data from Insurify, Coalition for an Insurable Future, FEMA disaster recovery fact sheets, LendingTree, Redfin\/Ipsos, and PropertyIQ market reporting.<\/p>\n<p style=\"text-align: justify\"><strong>About True Builders <\/strong><\/p>\n<p style=\"text-align: justify\"><a rel=\"nofollow\" href=\"https:\/\/true-builders.com\/\">True Builders<\/a> is a family-owned, licensed general contractor (CRC1335717) based in Lakeland, Florida, serving Central Florida since 2009. Founded by Issac Turpin, True Builders specializes in whole-home remodeling, kitchen and bathroom renovations, home additions, and disaster recovery, managing design, permitting, and every trade in-house.<\/p>\n<p style=\"text-align: justify\">Full study available at: <a rel=\"nofollow\" href=\"https:\/\/true-builders.com\/blog\/home-remodeling-lakeland-surges-as-1-in-5-homeowners-go-uninsured\/\">Home Remodeling Lakeland Surges as 1 in 5 Homeowners Go Uninsured<\/a><\/p>\n<p><span style='font-size:18px !important'>Media Contact<\/span><br \/><strong>Company Name:<\/strong> <a rel=\"nofollow\" href=\"https:\/\/www.abnewswire.com\/companyname\/true-builders.com_196210.html\">True Builders<\/a><br \/><strong>Contact Person:<\/strong> Issac Turpin<br \/><strong>Email:<\/strong> <a rel=\"nofollow\" href=\"https:\/\/www.abnewswire.com\/email_contact_us.php?pr=1-in-5-lakeland-homeowners-now-uninsured-as-home-remodeling-lakeland-projects-surge\">Send Email<\/a><br \/><strong>Phone:<\/strong> 863-804-6009<br \/><strong>Address:<\/strong>2829 Badger Rd #19  <br \/><strong>City:<\/strong> Lakeland<br \/><strong>State:<\/strong> Florida<br \/><strong>Country:<\/strong> United States<br \/><strong>Website:<\/strong> <a rel=\"nofollow noopener\" href=\"https:\/\/true-builders.com\/\" target=\"_blank\">https:\/\/true-builders.com\/<\/a><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.abnewswire.com\/press_stat.php?pr=1-in-5-lakeland-homeowners-now-uninsured-as-home-remodeling-lakeland-projects-surge\" alt=\"\" width=\"1px\" height=\"1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Builder carrying lumber at a house under construction shows home remodeling Lakeland projects growing amid insurance gaps. LAKELAND, Fla. &#8211; October 23, 2026 &#8211; Nearly one in five Florida homeowners<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/posts\/620211"}],"collection":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/comments?post=620211"}],"version-history":[{"count":0,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/posts\/620211\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/media?parent=620211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/categories?post=620211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/tags?post=620211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}