The issue in Miami are hurricanes. Many homes are required to have windstorm insurance to qualify for financing. New regulations are eliminating some of the previews allowable discounts which will increase insurance premiums for homeowners that are already strapped for money. Only a few insurance companies are left in South Florida that cover windstorm insurance. The advice about combining multiple insurances (car, etc.) with the same insurance might help. Reducing your coverage is often not possible if you have a loan on the property. Besides that we all know how it is with insurances, the moment you don't have it you need it.
Thanks for everybody's input.