Governor Ron DeSantis announced Monday that significant financial relief is on the way for Florida homeowners, signaling a turning point in the state’s long-running insurance battle.
Starting in Spring 2026, policyholders with Citizens Property Insurance—the state’s insurer of last resort—will see premium reductions averaging 8.7 percent statewide, a shift officials attribute to the stabilization of the market following aggressive legal reforms.
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The relief targets some of the most expensive areas in the state. South Florida, historically plagued by high litigation costs, is set for the steepest drops. Homeowners in Broward and Miami-Dade counties can expect average rate reductions of roughly 14 percent, while Palm Beach residents will see bills drop by nearly 12 percent.
“Floridians are seeing rate reductions in both auto and homeowners insurance across the state, with additional relief coming soon,” Governor DeSantis said during the announcement in Davie. He emphasized that the lower premiums are a direct result of the state “holding firm” on tort reforms that eliminated one-way attorney fees and curbed abusive assignment-of-benefits practices.
State data suggests the insurance sector is regaining its health. The number of Citizens policies has plummeted by 50 percent since last year, hitting a 14-year low as more property owners transition back to private carriers. Since the reforms took effect, 17 new insurance companies have entered the Florida market, increasing competition.
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The price drops aren’t limited to government-backed plans. Private insurers like Florida Peninsula and Universal Property & Casualty are also cutting rates, and the trend extends to the roads. Major auto carriers, including State Farm, Progressive, and AAA, have filed for rate decreases ranging from 7 to 15 percent. Even ride-share giant Uber reported that Florida riders have saved millions recently due to lower insurance overhead.
Chief Financial Officer Blaise Ingoglia noted that the market was “near collapse” just four years ago, crediting the turnaround to the historic lawsuit limitations enacted by the administration. Insurance Commissioner Mike Yaworsky echoed the sentiment, stating that current data shows “nothing but good news” for consumers as litigation costs decline and reinsurance prices stabilize.
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