If you own a condo or house in Miami and braced for another insurance increase this year, the headline decision points the other way: Citizens Property Insurance proposed an average 2.6% rate decrease for 2026, with reductions in at least 19 Florida counties, per Naples News reporting in December 2025. It is a sharp reversal from 2025, when regulators approved an average statewide increase of about 8.6% for Citizens homeowners policies, per reporting in February 2025.
What changed to produce a proposed cut?
Competition. Citizens — the state-backed insurer of last resort — shrank from roughly 1.4 million policies in 2023 to 395,144 by January 2025, per the company's own figures announced by the Governor's office, its lowest count in about 14 years, as private carriers took back policies. When private insurers want the business, the residual market does not need to price aggressively, and the 2026 filing reflects that softer market. The proposal is a filing, not a final bill: actual premiums still vary by territory, home age, and coverage.
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What does this mean for your bill?
For homeowners with Citizens policies, the proposed 2.6% average is a county-level average, not a personal guarantee — some Miami-Dade policyholders could still see increases depending on territory and underwriting. For condo owners, the effect arrives through the association's master policy and then the HOA budget, where insurance is often the single fastest-growing line. For renters, the link is indirect: landlords and associations facing flatter insurance costs have less justification for pass-through increases, though leases renew annually and lag the market by a year or more. Flood coverage is separate from the homeowners debate entirely and runs through the National Flood Insurance Program.
What should a Miami household do with this?
Three moves, regardless of which insurer carries your policy. First, shop the renewal: the entire dynamic in 2025 and 2026 has been private carriers re-entering Florida, and the competitive quote you get may beat any glide-path number. Second, if you are buying, get an insurance quote before the offer, not after — the same condo or house can carry very different premium outcomes by building and roof age. Third, read the association's insurance line at renewal if you own a condo; a proposed statewide average cut does not automatically reach your building's budget. This is information, not insurance advice. As of mid-February 2026, the honest reading is that the direction of Florida's home insurance market has turned, and the first place households see it is the renewal packet.