Insurance premiums are soaring for Bay Area homeowners, and they could rise much more next year to cover losses from the hurricanes of 2024. Dave Lesko and his father, Joe, moved from Georgia to a home in Dunedin, and initially could not believe the difference in process between the two states. We found some in the private market starting around $8,700, but Dave decided to go with state-run Citizens Insurance for around $6,600. First, you're not allowed to get Citizens Insurance if a private company comes within 20% of the Citizens quote (which wasn't an issue for Dave). Third, with Citizens citizens, you run the risk of paying a surcharge up to 15% if major disasters strike and Citizens needs more money to pay all the claims.