Overview
- State regulators directed Citizens Property Insurance to implement a statewide average premium cut of 8.7%, deeper than the 2.6% reduction the company sought, with new rates set to take effect June 1.
- DeSantis said more than 150,000 of roughly 400,000 Citizens customers would see cuts exceeding 10%, including a projected 13.4% regional decrease across South Florida and county-level averages of 14.1% in Broward, 11.9% in Palm Beach, 14% in Miami-Dade, and 11.3% in Monroe.
- The Governor and Insurance Commissioner pointed to new carrier approvals and recent filings, highlighting roughly 8% average decreases by Florida Peninsula and Security First, a 2.3% 30‑day average drop in home rate requests, 83 companies filing decreases, and 100 holding rates flat.
- Citizens’ policy count started 2026 below 400,000 after peaking near one million last year, a shift officials present as evidence of a stabilizing private market.
- Consumer advocates caution that Florida homeowners still face the nation’s highest premiums and that modest declines follow steep increases; DeSantis also noted improving auto trends, with top insurers averaging 6.5% decreases and a previously agreed $1 billion Progressive rebate he said should process this week.