As homeowners and property owners plan for 2026, Florida’s insurance market is showing early signs of premium relief after years of rising costs. Recent state actions and market developments point toward a more balanced landscape – with meaningful rate reductions, increased competition, and improved underwriting conditions. Here’s what Florida residents should know as they think about their coverage next year.
Homeowners Insurance: Rate Reductions on the Horizon
In January 2026, Florida Governor Ron DeSantis announced major statewide insurance rate relief for Florida homeowners insured through Citizens Property Insurance, the state’s insurer of last resort. Under the approved changes, a statewide average premium reduction of about 8.7% will begin taking effect at policy renewals in spring 2026, with even larger rate cuts expected in South Florida counties such as Miami‑Dade and Broward. More than 330,000 policyholders across all 67 counties will see lower premiums, and over 150,000 of those will enjoy reductions of 10% or more.
These cuts are being credited, in part, to recent legislative reforms aimed at improving market conditions, reducing litigation abuse, and encouraging more private carriers to return to the Florida market, helping expand consumer choice.
Private carriers have also filed for their own rate reductions. For example, Florida Peninsula has proposed an average statewide homeowners premium decrease of 8.4% (with even larger reductions for condo policies), reflecting ongoing efforts to pass savings on to consumers after market reform efforts.
This is also great news for our ABCO Mortgage clients – allowing us to offer buyers the most competitive financing options and insurance coverage all under one roof.
Source: flgov.com; PR Newswire
Broader Market Shifts and Personal Lines Trends
Beyond Citizens, other insurers are responding to improved conditions. Some companies have already implemented rate decreases across their homeowner products; for instance, Security First Insurance announced an 8% reduction in its Signature HO3 homeowners policy, marking consecutive rate decreases and substantial annual savings for policyholders.
These shifts aren’t limited to property insurance. Broader reforms in Florida have led to more competitive pricing and rate adjustments in auto and other personal lines, with some carriers lowering premiums due to market stabilization and reduced litigation pressures.
The return of multiple private insurers — and the corresponding decline in Citizens policies — underscores improving market health, as more carriers compete for business.
Source: flgov.com; Security First Insurance
Why 2026 Is the Time to Review Your Coverage
With 2026 rate relief beginning to materialize, Florida property owners have an opportunity to review their current policies and leverage shifting market conditions. Even modest adjustments, such as updating dwelling values, reviewing deductibles, bundling coverages, or exploring available discounts, could result in savings while ensuring your coverage properly reflects today’s property values and risk exposures.
Need Help Evaluating Your Options?
Fortun & Co.’s personal lines experts can help you navigate the latest market developments and identify opportunities for savings without sacrificing protection.
📞 305.395.4444
PS: Looking to buy or refinance this year?
We’ve got you covered – contact our sister company ABCO Mortgage .
📞 305.784.7000
Legal Disclaimer
This content is provided for general informational purposes only and is not intended to constitute legal, financial, tax, or insurance advice. Insurance coverage descriptions are general in nature and may not reflect all terms, conditions, limitations, or exclusions of any policy. Coverage availability, pricing, and eligibility are subject to underwriting approval, carrier guidelines, and applicable Florida insurance regulations, and may vary based on individual circumstances. Readers should consult with qualified legal, financial, or insurance professionals regarding their specific needs. Fortun & Co. makes no representations or warranties regarding the completeness or accuracy of this information and assumes no liability for actions taken in reliance upon this content.
