Florida man paid off his house only for Hurricane Milton to tear off his roof 2 months later. Without home insurance, he was left to foot the bill

Mike Parrot told Tampa Bay’s WFLA News that he and his wife had just paid off their home about two months prior to Hurricane Milton. The category 5 storm that hit Florida in October 2024 ripped the roof right off their home in Bradenton.

The couple’s home was officially condemned, WFLA reported, and they had to live in their backyard studio while their home was repaired.

According to WFLA reporter Shannon Behnken, it’s a situation she often encounters: homeowners typically have insurance while they have a mortgage, but once their loans are paid off, they don’t renew their insurance to save money.

Behnken reported that as the cost of insurance has skyrocketed, “a growing number of homeowners are choosing to take the gamble — and many have lost.”

Insurance costs climbing

According to insurance comparison website Insurify, about one in five homes in Florida are uninsured. That puts Florida in the top six states with the most uninsured homes, even though the state’s climate-related disaster risk is high.

The cost of home insurance in Florida increased by 18% in 2025, compared to 2024, Insurify found. It’s the most expensive state for home insurance in the country — rates have jumped 14% since 2023.

While Insurify puts the national average for home insurance for 2025 at $2,948, the average for Florida was $8,292. Citing National Oceanic and Atmospheric Administration data, the company says that Florida has experienced at least 34 billion-dollar weather events since 2020.

Passing on home insurance is a big risk

Going without homeowner’s insurance is risky business, especially in areas where climate-related weather events are more likely to happen. While there are no state laws that require homeowners’ insurance, if you have a mortgage, it’s likely your lender requires it.

WFLA News noted that homeowner’s insurance policies typically cover wind damage, as well as water damage that’s caused by wind damage.