After devastating 2022 hurricane season, AAA not renewing some insurance policies in Florida

AAA says it won’t renew a small percentage of homeowner and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State. AAA said Tuesday it wasn’t leaving Florida, but last year’s devastating hurricane season saw an “unprecedented” rise in reinsurance rates. The company refused to say how many Florida policies won’t be renewed. A week ago, Farmers Insurance said it was discontinuing new coverage of Florida auto and home policies. Florida has struggled to keep the state insurance market stable ever since 1992's powerful Hurricane Andrew. Risks for carriers have also grown as climate change boosts the strength of hurricanes.