Business Observer announced that most Florida homeowners with Citizens Property Insurance Corp. policies are seeing nearly 10% reductions in annual rates at spring renewal, with a statewide average decrease of 8.7% affecting more than 330,000 policyholders across 67 counties.
According to a LinkedIn post from Business Observer, the reduction in rates is confirmed by statements from Governor Ron DeSantis and the Florida Office of Insurance Regulation. More than 150,000 policyholders will see reductions of 10% or greater.
Governor DeSantis announced these significant premium reductions for Citizens Property Insurance policyholders starting in Spring 2026 at renewal. He attributes the changes to comprehensive insurance and tort reforms. As of January 2025, the number of Citizens policies in force declined to 395,144, representing a 50% reduction from the previous year and marking the lowest level in 14 years.
The Board of Governors of Citizens Property Insurance Corporation approved rate recommendations for 2026 that reduce average rates for personal lines policyholders for the first time since 2015. These changes are due to successful reforms aimed at returning the market to health. Initial proposals suggested a statewide average decrease of 2.6%, with three out of five policyholders receiving an average premium reduction of 11.5%. By the end of 2025, Citizens’ policy count is expected to fall to 385,000, representing a significant decrease from the October 2023 peak.
Business Observer is a business news publication focusing on economic development, real estate finance, and industry trends in Southwest Florida. It provides daily coverage and analysis for professionals and stakeholders in Florida’s business community.
