Sami Kapanen and Tommy Westlund scored in a two-minute span in the second for host Carolina.
The Southeast Division-leading Panthers are 2-4-1 in seven games since going a season-high 13 games over .500 two weeks ago.
Florida's Pavel Bure, who had 28 goals and 20 assists in his past 27 games, was held without a point.
After trailing 2-0, Florida tied it as Mark Parrish and Victor Kozlov beat Arturs Irbe from the slot 1:50 apart. But Kapanen scored his 20th goal 27 seconds after Kozlov's tally on a great move, warding off three defenders and beating Mike Vernon with a shot through traffic.
Carolina's Sean Hill, the Hurricanes' top scoring defenseman, returned to the lineup for the first time after missing 18 games with a groin injury.
COYOTES: Center Trevor Letowski was named rookie of the month after scoring twice with nine assists in 14 games.
FRAUD WARNING: Hockey's finest come to Toronto this week for the 50th All-Star Game. So do criminals seeking to sell counterfeit sports memorabilia and fake autographs, the league and police warned. Mary Sotis, vice president of legal affairs for NHL Enterprises, said consumers should watch out for cheap imitations of NHL replica jerseys and souvenir T-shirts during the weekend of All-Star festivities that culminate with Sunday's game at the Air Canada Center. Sotis said sales of counterfeit products are believed to exceed $200-billion a year.