Florida Home Insurance Market Turns a Corner—51 Counties See Rate Cuts in 2026

The Relief You've Been Waiting For

Most Florida homeowners are not seeing significant rate hikes in 2026, a dramatic reversal from the period that preceded it. The Florida Office of Insurance Regulation reported this summer that homeowners-insurance rates decreased in 51 of Florida's 67 counties in 2026, and since 2024, 44 insurers have filed rate decreases and another 48 filed zero-percent changes.

Citizens Property Insurance—the state-run insurer of last resort—has announced an average 8.7% rate cut effective at Spring 2026 renewals, with over 330,000 policyholders across all 67 counties receiving decreases. In South Florida, where litigation-driven costs hit hardest, reductions are even steeper: 14.1% in Broward County and 14.0% in Miami-Dade.

The market is also gaining new competitors. Florida now has about 25 quality home insurers, which signals a more competitive market than in recent years. More than 185 residential filings for flat or decreased rates have been submitted over the past two years, with Florida Peninsula cutting rates by 8.2%, Security First by 8%, and Universal Property & Casualty by 5.1%.

What It Means for You

If you're a Northeast retiree relocating to the Treasure Coast, the timing is favorable. Lawmakers say legislation they passed in 2022 to reform the state's insurance industry is now correcting the market, with fewer frivolous lawsuits, fewer policies held by Citizens, and increasing competition among insurance companies starting to fix Florida's insurance challenges. While most Florida homeowners pay between $5,500 and $11,000 a year in 2026, the downward pressure is real. Shop your renewal now—carrier appetite shifts multiple times per year, and what seemed uncompetitive last cycle may be your best option today.