After a decade of runaway premium hikes, Florida's home insurance market is finally shifting — and for most homeowners, it's shifting in your favor. For the first time since 2015, Citizens Property Insurance Corporation has filed for a statewide rate decrease: an average 2.6% cut effective June 1, 2026, with South Florida policyholders projected to see reductions above 11%. Citizens isn't acting alone. Florida Peninsula, Patriot Select, Security First, and Heritage have all filed rate decreases in recent months, and seventeen new carriers have entered the Florida market since reforms passed.
The turnaround is real, but uneven. If you're in Miami-Dade, Broward, or Monroe, you're likely to see the biggest relief. If you're in Central Florida, a handful of counties will still see modest increases. And if you're one of Citizens' remaining ~395,000 policyholders — down from a 1.42 million peak in October 2023 — you may be getting a depopulation "takeout" offer from a private carrier, with rules you need to understand before you sign anything.
Below: what's driving the shift, what the new laws (HB 767, SB 808, and the existing Fla. Stat. 627.7011) mean for you, and five specific moves Florida homeowners should make before their next renewal to lock in the savings.
Will Florida home insurance rates go down in 2026?
For most Florida homeowners, yes — modestly. The Florida Office of Insurance Regulation (OIR) reports that since January 2024, 39 companies have filed for rate decreases and 48 more have filed for no change. The 30-day rolling average of filings is now -2.3%, compared to +0.5% one year ago. That's the first time the statewide trend has been negative in roughly a decade.
The specific 2026 filings confirmed so far:
- Citizens Property Insurance Corp. — 2.6% average statewide decrease, with South Florida tri-county at over 11%. First rate cut in 10 years. Effective June 1, 2026.
- Florida Peninsula — 8.4% average decrease filed.
- Patriot Select (formerly Anchor Insurance) — 11.3% average premium reduction.
- Security First — 8% statewide decrease filed in late 2025.
- Heritage Insurance — decreases filed across multiple lines.
Why are Florida insurers suddenly filing for rate decreases?
Three forces are converging at once.
1. The 2022–2023 legislative reforms are working
Florida's December 2022 SB-2A eliminated one-way attorney fees and banned assignment-of-benefit (AOB) agreements — two things that had turned property claims into a litigation engine and driven carriers out of the state. SB 7052 (2023) added further consumer protections and disclosure requirements. The combined effect was to pull litigation costs down sharply, which carriers cite directly in their rate decrease filings. USAA, State Farm, and AAA have all credited Florida's tort reform in their public statements.
2. The reinsurance market softened
Reinsurance — the insurance that insurance companies buy for themselves — was the single biggest driver of Florida premium increases during the crisis. With no catastrophic-landfall hurricanes in 2024 or 2025 on the scale of Hurricane Ian, reinsurance rates softened at the mid-2025 renewals, and carriers are passing some of that savings through to homeowners.
3. HB 767 is about to force transparency on the rest
In February 2026, the Florida House passed HB 767 unanimously, 114–0. Sponsored by Rep. Yvette Benarroch (R-Naples), the bill would require residential property insurers filing rate changes to include a plain-language "rate transparency report" showing what's driving the rate — broken out as percentages attributable to reinsurance costs, claims costs, and profits. It also directs the OIR to build a consumer resource center. The bill is pending in the Senate, with a July 1, 2026 effective date if enacted. HB 767 doesn't cap rates; it forces insurers to show their work.
What does a Citizens "depopulation" letter actually mean?
Citizens Property Insurance Corporation is Florida's state-run insurer of last resort. During the peak of the crisis it ballooned to 1.42 million policies. As of early 2026 it's down to roughly 395,000 — the lowest count since 2012. The mechanism driving the decrease is the "depopulation program," which invites approved private carriers to take out blocks of Citizens policies.
If you currently have Citizens and a private carrier offers you a takeout policy, here's what Florida law requires:
- You must accept the private offer if its premium is within 20% of what you're paying Citizens.
- You can reject the offer only if the private premium is more than 20% higher than your Citizens rate.
- The private policy may have different coverage, deductibles, or exclusions — read the declarations page line by line before the transition.
Practical advice: if you receive a depopulation letter, don't panic — but don't auto-accept either. Compare the private offer against your Citizens policy for hurricane deductibles, wind coverage, water damage limits, and the carrier's AM Best rating. An independent agent (like Core 4) can run both side by side in about 10 minutes and flag the differences.
Can an insurer drop me just because my roof is old?
Short answer: no — not solely for age, if you take the right step.
Under Florida Statute 627.7011 (codified via the 2022 SB-2A reforms), property insurers are barred from refusing to issue or renew a homeowner's policy solely because a roof is 15 years old or less. If the roof is 15+ years old, the insurer may require an inspection — but if an authorized inspector certifies the roof has at least 5 years of useful life remaining, the insurer cannot drop you based on age alone.
Two bills in the 2026 session — SB 808 and HB 815 — proposed expanding those protections to all property insurance policies (not just homeowner's forms), expanding the definition of "authorized inspector" to include Registered Roof Consultants and Roof Observers, and creating new protections for low-slope roofs where a coating system can extend useful life. As of March 2026, HB 815 died in subcommittee; SB 808 remains active in the Senate. Worth watching if you own a landlord or commercial property, because those aren't covered by the current homeowner's-only statute.
Standard Market vs Citizens vs Surplus Lines: Which is right for me?
Florida homeowners essentially have three places to get coverage. Each works differently, and the wrong fit can cost you thousands — or leave you exposed.
| Standard Market | Citizens Property Insurance | Surplus Lines | |
|---|---|---|---|
| Examples | Florida Peninsula, Heritage, Security First, Kemper, Ocean Harbor | State-run (Citizens Property Insurance Corp.) | Non-admitted specialty carriers (Lloyd's syndicates, Scottsdale, etc.) |
| Who qualifies | Most homeowners meeting the carrier's underwriting guidelines | Only if no standard carrier will write you — or private offers are more than 20% above Citizens | Homes too high-risk or unique for the standard market (coastal high-value, unusual construction, past claims) |
| Rate regulation | Licensed and rate-regulated by Florida OIR | State-run, rate-regulated by OIR under a statutory glidepath | Licensed but not rate-regulated — premiums are what the market bears |
| 2026 rate trajectory | Falling: 8–11%+ decreases common | Falling: -2.6% statewide, -11%+ in tri-county South Florida | Variable — depends on the carrier and risk profile |
| FIGA protection | Yes (Florida Insurance Guaranty Association covers claims if carrier fails) | State-backed (no FIGA needed) | No FIGA protection — if the carrier becomes insolvent, you may be exposed |
| Best for | The majority of Florida homeowners | Homes the private market won't touch, or those within 20% of private pricing | High-value homes, unusual construction, or tough coastal risks that need specialty underwriting |
How do I lock in the lowest rate in 2026?
The homeowners who'll capture the 2026 savings are the ones who act. Here are the five highest-ROI moves to make before your next renewal.
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Get a wind mitigation inspection.
A $150–$250 inspection can unlock up to 45% in premium credits for features like a hip roof, hurricane straps, impact-rated openings, and a secondary water-resistance layer. It's the single highest-ROI move most Florida homeowners can make, and the credits are retroactive at renewal.
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If your roof is 15+ years old, get a roof condition inspection now.
Don't wait for the non-renewal notice. Under Fla. Stat. 627.7011, an authorized inspector certifying 5+ years of useful life gives you legal grounds to keep your policy. Schedule it before your renewal window opens, not after.
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Right-size your hurricane deductible.
Florida policies carry separate hurricane deductibles of 2%, 5%, or 10% of dwelling coverage. On a $400,000 home, that's the difference between $8,000 and $40,000 out of pocket after a named storm. Raising the deductible cuts 10–25% off premium — but only do it if you can actually absorb the out-of-pocket hit.
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Apply for a My Safe Florida Home grant.
The program offers up to $10,000 in matching grants for wind-mitigating upgrades: impact windows, reinforced roof-deck attachment, opening protection. The upgrades themselves then unlock additional wind-mitigation credits with your carrier. As of 2024, total program funding exceeds $600 million.
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Shop 10+ carriers — especially this year.
With 17 new carriers in the Florida market and 39+ companies filing for rate decreases, the carrier that had your best rate two years ago almost certainly isn't the carrier with your best rate today. An independent broker can run your home through 10–15 carriers in a single sitting, which is how most of the savings in 2026 will actually be captured.
The 2026 bottom line
Florida's insurance crisis isn't over. Premiums are still higher than they were five years ago, hurricane risk isn't going anywhere, and rate relief is uneven across the state. But for the first time in a decade, the market is moving in the homeowner's direction — and the data behind the shift (legislative reforms, fewer carrier exits, softening reinsurance, 17 new entrants, Citizens' first rate cut since 2015) is substantive, not cosmetic.
The homeowners who capture the savings will be the ones who act on the shift — who get the inspections, shop the market, and read their depopulation offers carefully. The homeowners who renew on autopilot will miss it entirely.