Florida homeowners insured through Citizens Property Insurance Corporation will see meaningful premium reductions starting in spring 2026, marking one of the largest rate decreases in the state in years, Gov. Ron DeSantis announced Monday.
State officials say the reductions follow continued stabilization of Florida’s property-insurance market, driven by sweeping litigation and insurance reforms enacted since 2022. The approved rate filings show an average statewide decrease of 8.7%, affecting more than 330,000 Citizens policyholders across all 67 counties. More than 150,000 of those customers are expected to see reductions of 10% or greater when their policies renew.
“This is real relief for homeowners,” DeSantis said in a statement. “Floridians are seeing rate reductions in both auto and homeowners insurance across the state, with additional relief coming soon. Premiums are lowering because we’ve enacted real reforms and withstood the pressure to reverse course.”
South Florida to See the Largest Cuts
Regions that previously experienced the steepest litigation-driven costs—particularly in South Florida—will see the most significant decreases:
- Broward County: ~27,000 homes, average reduction 14.1%
- Miami-Dade County: ~42,000 homes, average reduction 14.0%
- Palm Beach County: ~26,000 homes, average reduction 11.9%
- Monroe County: ~1,000 homes, average reduction 11.3%, with more than 8,000 wind-only policies seeing reductions or no increase
State Chief Financial Officer Blaise Ingoglia said the reductions show that reforms aimed at curbing fraudulent claims and abusive litigation practices are having the intended effect.
“Four years ago, our insurance market was near collapse,” Ingoglia said. “Those reforms are working, and Florida homeowners are seeing the benefits.”
Insurance Commissioner: “Nothing but Good News” in Market Data
Insurance Commissioner Mike Yaworsky said improvements continue across nearly all indicators in both the auto and homeowners markets.
“These positive results are entirely related to our historic tort reforms,” Yaworsky said. “I am hopeful that these reforms will not be repealed and that we will continue to improve everyday conditions for Floridians.”
State officials point to a sharp drop in lawsuits after eliminating one-way attorney fees and restricting assignment-of-benefits practices. Reinsurance costs have also declined, losses are trending below projections, and Citizens’ exposure has dropped as more homeowners shift back into the private market.
As of January 2025, Citizens’ policies in force fell to 395,144 — a 50% reduction from the previous year and the lowest level in 14 years.
Broader Market Shows Signs of Stabilization
Officials say the reforms are also influencing the private market. The state has seen 17 new insurance companies enter Florida since the changes took effect, contributing to increased competition and lower rates.
Several major insurers have filed for premium reductions in recent months, including:
Homeowners Insurance
- Florida Peninsula: -8.2%
- Security First: -8%
- Universal Property & Casualty: -5.1%
Auto Insurance
- USAA: -7%
- Florida Farm Bureau: -8.7%
- Progressive: -8%, plus more than $1 billion in upcoming refunds to policyholders
- State Farm: -10.1%, with cumulative cuts reaching -20%
- AAA: three reductions totaling -15%
- Allstate: average -4% reduction for 13,100 drivers
Surplus-lines customers are also seeing decreased pricing, with commercial business premiums reportedly down 10% and commercial windstorm and hail premiums down 47%, according to the Florida Surplus Lines Association.
What’s Next
Citizens’ new rates will take effect for renewals beginning in spring 2026. State officials say they expect more private carriers to file for decreases in the coming year as claims activity stabilizes and reinsurance pricing improves.
