Florida Insurance Regulators Approve Additional Rate Cuts as Market Stabilizes This Week

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Florida's Office of Insurance Regulation this week approved homeowners rate decreases affecting more than 62,000 policies at renewal. Four private insurance companies were cleared to reduce home premiums, with cuts reaching up to 10.4%. Kin Insurance also announced rate reductions averaging over 20% for customers across Broward, Miami-Dade and Palm Beach counties.

As of October 6, 2026, the Office of Insurance Regulation has received 136 filings from 48 companies for rate decreases and 126 filings from 53 companies for zero percent rate increases, reflecting a stabilized market. Over the most recent 30-day period, the average requested homeowners insurance rate change was a 4.8% decrease.

The turnaround marks a striking reversal from the crisis years. Citizens Property Insurance has shrunk to 254,736 policies as of October 2, 2026, compared with a peak of 1.41 million in October 2023, as private carriers absorb policies and compete on price.

**What it means for you:** If you're relocating to the Treasure Coast, this stabilizing market is working in your favor. For many homeowners in Southwest Florida, though, premiums remain far above pre-Hurricane Ian levels and recent reductions have only started to appear at renewal. Shop aggressively at renewal—rate decreases don't apply automatically, and spreads between carriers remain wide. The momentum suggests better pricing availability than in recent years, especially if you qualify for private market coverage outside Citizens.