Florida regulators say home insurance rates have fallen in 51 counties so far in 2026 as the hurricane season continues.
The Florida Office of Insurance Regulation reported the decreases as lawmakers argue that 2022 insurance reforms have started to repair the state’s stressed property market.
They point to fewer lawsuits from homeowners, fewer policies at Citizens Property Insurance Corporation and more competition among private insurers.
Insurify puts Florida’s average yearly home insurance cost at $6,060 for a property with $300,000 in dwelling coverage. State Rep. David Smith, a Seminole County Republican, said the outlook has improved since lawmakers passed the reforms three years ago.
Since 2024, 44 Florida insurers have requested rate decreases, according to the Office of Insurance Regulation. Another 48 companies requested no rate increase, which helped limit premium pressure for policyholders.
Florida’s new laws eliminated one-way attorney fees, a rule regulators say gave homeowners and their lawyers incentives to bring weak claims. Those lawsuits raised carriers’ legal costs and pushed premiums higher.
Mark Friedlander of the nonprofit Insurance Information Institute said the litigation change made a large difference.
Regulators say Florida accounted for 79% of all US homeowners insurance lawsuits in 2020. By 2025, that share had dropped to 41%, reducing legal expenses for insurers.
Reinsurance costs are falling. Reinsurance is the coverage insurers buy to cover their own losses, and it makes up 43% of a homeowner’s insurance premium in Florida.
Global reinsurers are very confident in supporting Florida regional insurers, and they’re offering much more favorable rates.
Florida’s insurance market is moving in the right direction. If the state avoids a major hurricane hit this season, homeowners should see a larger decline in rates.
Home insurance premiums still depend on the home’s location, distance from the coast, age and construction type. Residents get discounts when they harden properties against windstorm losses through roof straps and tie-downs, wind-rated garage doors and wind-rated windows.
State Rep. Anna Eskamani, an Orlando Democrat, said many Floridians have seen annual insurance premiums double or triple over the past eight years.
Florida still has the country’s most expensive insurance rates and needs more work to make homeownership affordable again.
Eskamani also warned against reforms that leave residents defenseless when insurers delay or deny valid claims. She welcomed reports of lower rates in some cases, but argued that Republican-backed bills passed this session will raise insurance costs for condo owners.
