Citizens Property Insurance Corp. is seeking a statewide average rate decrease of 2.6% for its personal lines, pointing to Florida’s recent legal and regulatory reforms as the driver.
The insurer said its board approved the request, marking the first recommended rate reduction since 2015.
Tim Cerio, Citizens president, CEO, and executive director, tied the filing directly to changes backed by Gov. Ron DeSantis and enacted by the Legislature. He said those measures delivered rate relief and restored stability to the state’s property insurance market. According to Cerio, the 2026 proposals signal a market that is no longer under constant strain.
Citizens says it has moved back toward its intended role as insurer of last resort. The carrier expects to close 2025 with about 385,000 policyholders.
That represents a 73% drop from the peak of 1.42 mn policies in October 2023 and the lowest count since Citizens launched in 2002.
Depopulation efforts played a large role. In 2024 alone, more than 546,000 policies shifted from Citizens to private carriers, according to the company. By the end of October, Citizens’ policy count fell below 500,000 for the first time in five years.
The requested rate change still faces regulatory review. Public hearings remain ahead of a proposed effective date of June 1, 2026, Citizens said.
Industry groups say the filing matches broader market signals. Mark Friedlander, senior director of media relations at the Insurance Information Institute, said most Florida residential insurers are either requesting rate cuts or holding rates flat.
We have projected Florida will achieve the lowest average rate increase and lowest average premium increase in the U.S. in 2025 due to the extensive reforms, which have reduced property claim lawsuits by 30% and stabilized the market.
Mark Friedlander, senior director of media relations at the Insurance Information Institute
He said the state is projected to post the lowest average rate increase and lowest average premium growth in the US in 2025, for the second year running, following reforms that cut property claim lawsuits by about 30%.
“We anticipate more significant rate decrease filings from Florida home insurers in 2026,” Friedlander said.
Friedlander said insurers expect additional rate decrease filings in Florida during 2026 as market conditions continue to stabilize.
