Gov. Ron DeSantis announced Monday that Florida homeowners insured through the Citizens Property Insurance Corporation will see significant premium reductions starting in spring 2026, the largest reductions in the state in years.
State officials say the reduction is due to continued stabilization of Florida’s property insurance market due to sweeping litigation and insurance reforms implemented starting in 2022. Approved rate applications show an average reduction of 8.7% across the state, impacting more than 330,000 citizen policyholders in all 67 counties. More than 150,000 of those customers are expected to receive discounts of 10% or more when renewing their policies.
“This is a real relief for homeowners,” DeSantis said in a statement. “In Florida, we are seeing rate reductions for both auto and homeowners insurance across the state, and additional relief is on the way. Premiums are down because we have implemented serious reforms and withstood pressure to change course.”
The largest reductions will be seen in South Florida.
Areas that have historically had the highest litigation costs, particularly South Florida, will see the most significant declines.
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%, over 8,000 wind-only policies with no reduction or increase
State Chief Financial Officer Blaise Ingoglia said the cuts show that reforms aimed at curbing fraudulent claims and deceptive litigation practices are having the intended effect.
“Four years ago, our insurance market was on the verge of collapse,” Ingoglia said. “These reforms are working, and Florida homeowners are reaping the benefits.”
Insurance Commissioner: Market data has “only good news”
Insurance Commissioner Mike Jaworski said nearly every indicator in the auto and homeowners markets continues to improve.
“These positive results are entirely related to our historic tort reform,” Jaworski said. “I am hopeful that these reforms will not be repealed and will continue to improve the daily lives of Floridians.”
State officials say the elimination of unilateral attorney fees and restrictions on transfers of profits have led to a sharp drop in litigation. Reinsurance costs are also falling, losses are trending lower than expected, and national exposure is decreasing as homeowners return to the private market.
As of January 2025, the number of insurance policies held by citizens had decreased to 395,144. This is a 50% decrease from the previous year and the lowest level in 14 years.
Broader markets show signs of stabilization
Officials say the reforms also impact the private market. Since the change went into effect, the state has seen 17 new insurance companies enter Florida, helping to increase competition and lower premiums.
In recent months, several major insurance companies have applied for lower premiums. Among them are the following:
homeowners insurance
Florida Peninsula: -8.2% Security First: -8% Universal Liability: -5.1%
car insurance
USAA: -7% Florida Farm Bureau: -8.7% Progressive: -8% plus more than $1 billion in future refunds to policyholders State Farm: -10.1%, cumulative reduction reaching -20% AAA: 3 cuts totaling -15% Statewide: -4% average reduction for 13,100 drivers
Surplus line customers have also seen price reductions, with commercial business insurance premiums down 10% and commercial storm and hail insurance premiums down 47%, according to the Florida Surplus Line Association.
what’s next
The new rates for citizens will be applied from renewal in spring 2026. State officials say they expect more private carriers to apply for discounts next year as claims activity stabilizes and reinsurance prices improve.
