Governor Ron DeSantis announced Monday that Florida homeowners with Citizens Property Insurance will receive significant premium reductions when their policies renew beginning in spring 2026.
The changes reflect what officials call a stabilization of the state's insurance market following insurance and tort reforms enacted during DeSantis' administration.
Under the approved rate filings, the vast majority of Citizens policyholders statewide will receive lower premiums, with a statewide average reduction of 8.7%. More than 330,000 policyholders across all 67 counties will see decreases, and over 150,000 policyholders will receive reductions of 10% or greater.
South Florida, long hit by litigation-driven insurance costs, stands to benefit the most.
Officials said average reductions in hard-hit counties include Miami-Dade with roughly 42,000 homes seeing an average reduction of 14.0%, Broward with roughly 27,000 homes seeing an average reduction of 14.1%, Palm Beach with roughly 26,000 homes seeing an average reduction of 11.9%, and Monroe with more than 1,000 homeowners seeing an average reduction of 11.3% and over 8,000 wind-only policies seeing a reduction or no increase.
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"Floridians are seeing rate reductions in both auto and homeowners insurance across the state, with additional relief coming soon," DeSantis said.
"The reductions in Citizens Insurance rates are the most significant in recent memory. Premiums are lowering because we've enacted real reforms and withstood the pressure to reverse course," DeSantis said.
Chief Financial Officer Blaise Ingoglia credited reforms that targeted litigation and assignment-of-benefits abuse for helping the market recover.
"Four years ago, our insurance market was near collapse, which is why I stood alongside our Governor to create historic lawsuit reform, cut out the waste, fraud and abuse, and strengthen our insurance market," Ingoglia said.
"Those reforms are working, and Florida homeowners are seeing the benefits," Ingoglia said.
Insurance Commissioner Mike Yaworsky pointed to declining litigation and improved underwriting conditions as drivers of the reductions.
"We are seeing nothing but good news across all data points for Florida's auto and home insurance markets," Yaworsky said.
"These positive results are entirely related to our historic tort reforms," Yaworsky said.
State data cited by officials shows Citizens policies in force fell to 395,144 as of January 2025 — a roughly 50% drop from the prior year and the lowest level in 14 years — reflecting a large shift of customers back to the private market.
Reinsurance costs have eased, actual losses have trended below earlier projections, and private-market capacity has grown, with officials saying 17 new insurers have entered Florida since the reforms.
The market-wide impact extends beyond homeowners' coverage. Dozens of insurers have filed for rate decreases, and officials highlighted several recent company-specific reductions, including Florida Peninsula at -8.2%, Security First at -8%, and Universal Property & Casualty at -5.1%.
Auto insurers have also sought cuts, including USAA at -7%, Florida Farm Bureau at -8.7%, Progressive at -8%, State Farm with an average decrease of -10.1% and cumulative -20% with recent filings, and AAA with three reductions totaling -15%.
Surplus-lines costs have fallen as well, with the Florida Surplus Lines Association reporting declines for commercial business and sharp drops in commercial windstorm and hail costs.
Officials said the rate relief demonstrates the intended effects of the legal and regulatory changes and urged lawmakers not to roll back the reforms that have helped lower premiums and increase market stability.
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