Is homeowners insurance getting cheaper in Florida?

For the first time since 2015, the state's insurer of last resort, Citizens Property Insurance, recommended a rate decrease, and regulators later approved a statewide average reduction of about 8.7 percent. Miami-Dade and Broward policyholders saw some of the largest average decreases, around 14 percent each.

That does not mean every premium drops by the same amount. The average hides a wide range: some homes see meaningful reductions, others see little change, and a small number still see increases. The trend is in the right direction, but the only number that matters is the quote for your specific home.

Florida insurance costs climbed for years because of storm risk, rising claims, reinsurance costs, and litigation. The 2022 and 2023 legal reforms, which removed assignment of benefits and changed attorney fee rules, have been reducing those costs, and new carriers have entered the market as conditions improved.

Reinsurance, the coverage insurers buy to back their own risk, has also gotten more affordable. Lower reinsurance costs give insurers room to moderate what they charge homeowners.

The direction is encouraging, but your rate depends on your home: the age and condition of the roof, the construction type, wind mitigation features, claims history, and location. Homes in higher-risk areas or with older roofs can still face higher premiums, and some homes need coverage from non-admitted carriers.

The practical step is to get an actual quote with a licensed insurance agent before you make an offer, and to build that number into your monthly budget, not just the mortgage payment.

Florida insurers must discount premiums for verified wind-resistant features, such as impact windows, hurricane shutters, secondary water barriers, and stronger roof-to-wall connections. Savings on the wind portion of the premium can be significant, and many homeowners see a meaningful reduction on the total policy.

A wind mitigation inspection documents these features and can be one of the fastest ways to lower a new premium. The state has also funded the My Safe Florida Home program, which offers inspections and matching grants for hardening improvements.

When we build a budget for your move, insurance is part of the real monthly picture, right alongside taxes and any HOA or condo fees. I connect you with insurance professionals who can quote your specific home, and I make sure the numbers we plan around are the ones you will actually pay.

This is general information, not insurance advice. The quote you receive from a licensed agent is the number that counts.