Florida homeowners insurance rate cuts have been approved at four private insurers, covering 62,666 policies. The state’s Office of Insurance Regulation cleared reductions of between 3.2% and 10.4% on 22 September 2026, and they reach policyholders only at renewal. Commissioner Mike Yaworsky said deeper cuts are pending, some as large as 19.7%.
The decision applies in Florida alone. Rules, rates and filing processes differ in every other American state, and nothing here changes a premium outside Florida.
Which Insurers Cut Rates and by How Much
Four companies had average rate decreases approved, and the size of the cut varies by insurer rather than by a single statewide figure.
| Insurer | Average rate change | Policies affected |
|---|---|---|
| Vyrd Insurance Company | -10.4% | 26,751 |
| One Alliance North America Insurance Company | -10.4% | 17,148 |
| Safe Harbor Insurance Company | -4.1% | 10,501 |
| Unique Insurance Company | -3.2% | 8,266 |
Those four filings add up to 62,666 policies. Separately, Kin Insurance said it plans reductions averaging more than 20% for customers in Broward, Miami-Dade and Palm Beach counties, according to reporting by Insurance Journal on 23 September 2026; that filing is a company announcement rather than an approval listed in the regulator’s release.
Who Is Affected, and When a Bill Actually Changes
Only customers of the four named insurers are covered by these approvals. A Florida homeowner insured by any other company sees no change from this decision, whatever the statewide direction of travel.
The approved figures are also averages across each insurer’s book, not a discount applied uniformly. Within a single company, an individual premium depends on the property’s location, construction, roof age, claims history and coverage limits, so some policyholders in these books will see more than the headline percentage and some will see less.
Timing is the second thing the percentages do not tell you. New rates take effect at policy renewal, not on the date of approval, so a household whose renewal falls in, say, June 2027 will not see the change until then. The insurer’s renewal notice is the document that states the actual new premium; the Office of Insurance Regulation publishes filings but does not issue individual quotes.
As of 23 September 2026, the regulator’s 30-day average requested rate change for Florida homeowners cover stands at -4.8%, against -1.1% a year earlier and +5.2% five years ago. The 180-day average sits at -0.3%, against 0.0% a year earlier.
What Citizens Property Insurance Has to Do With It
Citizens Property Insurance Corporation is Florida’s state-backed insurer of last resort, created to cover homeowners who cannot find cover in the private market. Its size is the clearest measure of how stressed that market is, and it has been shrinking fast.
- Peak, 2023: about 1.4 million policies in force.
- August 2026: 266,231 policies in force.
- Insured value: down from $553 billion in 2023 to an expected $85 billion in 2026.
- Staff: 882 employees, against 1,390 three years ago.
Those figures were reported by Insurance Journal on 23 September 2026. The mechanism behind the decline is depopulation: private insurers make takeout offers for blocks of Citizens policies, and policyholders are moved across when an offer meets the statutory comparability test.
Citizens has cut its own rates too. In its filing recommendation published on 10 December 2025, the corporation proposed a statewide average change of -2.6% for personal lines effective 1 June 2026, with three in five policyholders receiving an average reduction of 11.5%, or $359.
Why Florida Rates Are Falling at All
Regulators and the industry both trace the turn to the legal changes Florida made in December 2022. Senate Bill 2A, which took effect on 16 December 2022, repealed the state’s one-way attorney’s fee rule for property insurance claims — a provision that required insurers to pay a policyholder’s legal costs when the policyholder prevailed, but not the reverse.
Insurers had argued for years that the rule made litigation cheap to start and expensive to defend, and that the resulting claims costs were priced into premiums. Whether the reforms are the whole explanation is contested; hurricane losses in the years since have also been lighter than the 2022 season, and reinsurance costs have eased. What is not disputed is the direction of filings: since January 2024, 48 companies have filed for rate decreases in Florida and 53 have requested no change or a 0% increase.
The contrast with other catastrophe-exposed states is stark. Citing S&P Global data, the regulator said Florida recorded the only state-level rate decrease in the United States in 2025, at -0.92%, while the national weighted average rose 5.5%. In California, by comparison, State Farm has capped new home policies at 7,500 a month and Farmers has rates rising 1.5% at each renewal.
Florida Still Has the Highest Home Premiums in the Country
A 7% average cut across 62,666 policies does not undo a decade of increases. Insurify’s 2026 report put the average Florida home insurance premium at $8,292 for 2025, the highest of any state and about 181% above the American average, with Louisiana a distant second at just over $5,050.
An average is not a typical bill. Coastal counties such as Monroe, Palm Beach, Broward and Miami-Dade carry markedly higher figures than inland ones, and two houses on the same street can be priced very differently on roof age alone. Comparative premium estimates also vary between the firms that publish them, so treat any single national average as an indicator rather than a quote.
What Is Still in the Pipeline
The regulator says more filings are under review. “This is the latest wave of significant rate decreases for Floridians, which continues to grow higher,” Yaworsky said in the Office of Insurance Regulation’s announcement on 22 September 2026. “I expect to see more aggressive rate cuts in the near future and going into 2027.”
Pending requests range from -0.3% to -19.7%, according to the same release. None of those has been approved, and a filing is a request until the regulator signs it off. The Office of Insurance Regulation publishes approved filings on its own site, which is where a Florida policyholder can check whether their insurer has filed anything.
Frequently Asked Questions
Which Insurers Are Included in the Florida Homeowners Insurance Rate Cuts?
Four companies: Vyrd Insurance Company and One Alliance North America Insurance Company at an average -10.4%, Safe Harbor Insurance Company at -4.1%, and Unique Insurance Company at -3.2%. The Florida Office of Insurance Regulation announced the approvals on 22 September 2026.
When Will the Lower Rate Show Up on a Premium?
At policy renewal, not on the approval date. The insurer’s renewal notice states the actual new premium for that household.
Does This Apply to Every Florida Homeowner?
No. The approvals cover 62,666 policies held with the four named insurers. Homeowners insured elsewhere in Florida are unaffected by this particular decision, and the cuts have no effect outside Florida.
How Many Policies Does Citizens Property Insurance Still Have?
Citizens held 266,231 policies in August 2026, down from about 1.4 million at its 2023 peak, as private insurers took policies out through the depopulation programme. Those figures were reported by Insurance Journal on 23 September 2026.
Is Florida Home Insurance Now Cheap?
No. Insurify’s 2026 report put Florida’s average home insurance premium at $8,292 for 2025, still the highest of any American state. Individual premiums vary widely by county, property and insurer.
