Florida man paid off his house 2 months before Hurricane Milton tore off his roof — and he had no home insurance
Florida man paid off his house 2 months before Hurricane Milton tore off his roof — and he had no home insurance.
It might sound like the fate of a character in a fable, or a line from Alanis Morissette's famous 1990s hit " Ironic ": Man pays off his house, then the roof blows off.
Instead, it's the unfortunate reality for one Florida man, who, on top of having the bad luck of seeing his house suffer severe damage from a hurricane, was also on the hook for the costs, since he had recently paid off his home and skipped on paying for homeowner's insurance.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here's what it is and 3 simple steps to fix it ASAP
Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going
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 (1). The category 5 storm (2) 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."
According to insurance comparison website Insurify, about one in five homes in Florida are uninsured (3). 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 (4). 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 (4). Citing National Oceanic and Atmospheric Administration data, the company says that Florida has experienced at least 34 billion-dollar weather events since 2020 (4).
Read More: Are you paying too much for car insurance? Here are 3 clever ways to slash your monthly bill
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 (5).
WFLA News noted that homeowner's insurance policies typically cover wind damage, as well as water damage that's caused by wind damage.
However, homeowners and renters should be aware that most insurance policies do not cover flooding, and you must purchase separate coverage for floods. According to FEMA, just one inch of water flooding in an average sized home could result in more than $25,000 in damages (6).
An analysis of FEMA data by the Miami Herald also revealed that the majority of Floridians don't have flood insurance. Roughly 80% of Florida's residential structures do not have flood insurance, the Herald reported in 2025 (7).
If you have a mortgage and you live in a Special Flood Hazard Area, lenders that are federally regulated must require flood insurance under law, according to a Realtor.com report (5). But one in four flood insurance claims come from outside high-risk areas (6).
