Florida's home insurance market started 2026 with something it had not produced in a decade: recommended rate cuts. On December 10, 2025, the board of Citizens Property Insurance approved an 8.7% average decrease for homeowners policies — the insurer's first recommended rate cut since 2015 — and said its statewide policy count was expected to end 2025 near 385,000, down about 73% from the October 2023 peak, per Citizens' own announcement. Private carriers followed with filings of their own: per a December 19, 2025 report from Spectrum News 13, multiple Florida home insurance companies planned rate decreases for 2026.
This article covers what the filings mean for household budgets. Miami In News publishes information, not financial advice, and your own renewal quote is the number that counts.
When does the decrease reach your bill?
Not at once. A 2026 rate filing takes effect at each policy's renewal, so a Miami-Dade homeowner whose policy renews in March sees the change this spring, while one on a later renewal cycle waits. Citizens' cut applies with 2026 renewals, and the insurer noted that most of its single-family homeowners policies — more than 460,000 personal-lines policies were cited in the filing materials — would see average reductions in the double digits, roughly $359 a year for the average affected policy.
Why are rates falling now?
The decreases trace back to the 2022–2023 legislative session, when Florida curbed roof-claim litigation and set up a reinsurance backstop. Insurers spent 2024 and 2025 returning to profitability, new companies entered the state, and policyholders moved from Citizens back to private carriers. Fewer lawsuits and more competition is what the December filings reflect — not a reversal of Florida's underlying storm risk.
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What does this mean for a renter or buyer in Miami?
Renters do not pay the premium directly, but insurance is a line in every landlord's cost stack, and flat-to-falling premiums slow the pass-through that drove condo fees and rents up in 2023 and 2024. Buyers should still quote insurance before signing: coastal Miami-Dade premiums remain among the highest in the country, and an 8.7% average decrease on a high base is relief, not cheap coverage. Owners renewing in 2026 should compare the renewal quote against at least two private-market offers — with Citizens shrinking, private carriers are again writing policies they declined two years ago.
| What changed | The number | As of |
|---|---|---|
| Citizens homeowners average rate decrease | 8.7% statewide | Approved Dec. 10, 2025 |
| Citizens policy count | About 385,000 expected at year-end 2025 | December 2025 |
| Peak-to-now shrinkage of Citizens | Roughly 73% below October 2023 peak | December 2025 |
The fine print to watch
An average is not a promise. Your decrease depends on county, roof age, construction year and coverage limits, and some filings allow increases for specific risk profiles. The Office of Insurance Regulation reviews each carrier's filing, and the approved number for your carrier is the one that lands on your declarations page.