TAMPA, Fla. — Customers of Heritage Property & Casualty Insurance Company in Florida will begin to see a little cheaper bill starting early next year, including up to a 5% reduction in Palm Beach County.
The insurer announced Thursday that the Florida Office of Insurance Regulation has approved a rate decrease for its Florida policyholders, with some counties seeing their rates decrease up to 9.6%.
On average, Heritage policyholders will see a 3.3% decrease.
This company said the new rate will become effective for both new and renewal policies starting Feb. 18, 2026.
According to Heritage, this is the second approved rate decrease the company has received in two years after 3.3% rate decrease was approved in August 2024.
Notable rate decreases for Heritage Policyholders include:
- South Florida (Palm Beach, Broward and Miami-Dade counties) — up to 5% reduction
- Seminole County - 9.6% reduction
- Osceola County - 7% reduction
- Hillsborough County - up to 6.7% reduction
- Lee County 6.4% reduction
- Orange County - 6.1% reduction
"This rate decrease is an important change for our Florida policyholders and a sign of our continued commitment to affordable and reliable insurance solutions," Heritage Insurance CEO Ernie Garateix said in a statement. "The approval of this rate decrease also demonstrates how the reforms Florida has made to its insurance market are paying off. Most importantly, we are putting Floridians first and supporting the communities who rely on us."
This year, state regulators said that Florida's insurance market continues to improve following legislative reforms and advocacy efforts.
However, a recent report by Weiss Ratings questioned Florida's insurance rebound, suggesting the reforms enacted by lawmakers are backfiring, with more claims closed without payment and more lawsuits.
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Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
