Florida homeowners are poised to get a break on their insurance bills in 2026. Gov. Ron DeSantis this week announced that Citizens Property Insurance Corporation — the state’s insurer of last resort — will lower policyholders’ premiums significantly when renewals begin this spring.

According to statements from the governor’s office and the Florida Office of Insurance Regulation, more than 330,000 Floridians across all 67 counties will see their Citizens rates decrease, with average savings around 8.7% statewide and more than 150,000 homeowners seeing cuts of 10% or more.

Largest Savings in South Florida

While the average reduction is meaningful, homeowners in South Florida are set to benefit the most:

  • 🏖 Broward County: ~14.1% average reduction

  • 🌴 Miami-Dade County: ~14.0% decrease

  • ☀️ Palm Beach County: ~11.9% cut

  • 🌀 Monroe County (Keys): ~11.3% drop on full-coverage policies

These figures reflect ongoing rate revisions intended to reflect changing market conditions and boost affordability for some of the state’s highest-cost regions.

Why Rates are Falling

The announcement comes after years of reforms aimed at stabilizing Florida’s troubled property-insurance market. State officials attribute the rate relief to several major factors:

  • Legal and Tort Reforms: Changes curbing excessive litigation and limiting costly assignment-of-benefits practices have lowered insurer expenses.

  • Increased Competition: With private insurers returning to Florida’s market, consumers now have more options, and Citizens has shed a large share of its policy base.

  • Improved Market Conditions: Reinsurance prices have softened and claims losses are trending below earlier projections.

These improvements have also contributed to declines in auto and other lines of insurance, according to state regulators.

Citizens’ Policy Count Plummets

The insurer’s risk exposure continues shrinking: as of late 2025, Citizens had fewer than 400,000 policies in force, down sharply from more than 1.2 million policies just two years earlier. This contraction signals a larger trend of homeowners shifting back to the private market as competitive carriers return.

What This Means for Homeowners

For many Florida residents, these rate reductions could translate into real annual savings, especially in high-premium areas. Homeowners should:

  • Review renewal notices carefully when they arrive this spring.

  • Compare private market options — increased competition means more choices.

  • Understand that the announced cuts take effect at policy renewal, not immediately.

While state officials hail the reductions as some of the most significant in recent memory, insurance costs in Florida still remain higher than in most other states — meaning there is still room for improvement in affordability.