Citizens Property Insurance Corp. policyholders will receive an average statewide rate decrease of 8.7%, Florida Gov. Ron DeSantis has announced. Homeowners in South Florida are set to see larger reductions.
The rate cut exceeds the 2.6% reduction Citizens filed for in December. That filing marked the first rate decrease approved by Citizens' board since 2015.
More than 330,000 policyholders will see rates decline under the new structure. Of those, more than 150,000 will receive reductions of 10% or more.
"Floridians are seeing rate reductions in both auto and homeowners insurance across the state, with additional relief coming soon," DeSantis said. "The reductions in Citizens Insurance rates are the most significant in recent memory."
State officials attributed the rate decreases to tort reforms and insurance-focused legislation enacted in recent years.
Chief financial officer Blaise Ingoglia said the changes reflect the impact of legislative action taken over the past several years.
"Four years ago, our insurance market was near collapse, which is why I stood alongside our governor to create historic lawsuit reform, cut out the waste, fraud and abuse and strengthen our insurance market," Ingoglia said. "Those reforms are working, and Florida homeowners are seeing the benefits."
Admitted market home and auto insurers are also filing for lower rates, the governor's office said.
South Florida, which has faced some of the state's highest insurance costs, will see the largest rate reductions. Broward County rates will drop an average of 14.1% for 27,000 homeowners, while Miami-Dade County will see a 14% decline affecting 42,000 policyholders.
Palm Beach County homeowners will receive an 11.9% reduction across 26,000 policies, and more than 1,000 Monroe County policyholders will see rates fall by 11.3%. More than 8,000 wind-only policies in Monroe County will see either a reduction or no increase.
The announcement follows a 50% decline in Citizens' policy count over the past year. The state-backed insurer now holds 395,144 policies in force, its lowest level in 14 years, according to the governor's office.
The decline represents a continuation of a broader trend. Citizens' policy count stood at 1,407,805 in September 2023 before falling to 427,097 by November 2025, according to Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents.
Ulrich noted that the pace of the enrollment drop is notable given concurrent growth in Florida's population and housing stock, suggesting more risks are being absorbed by the voluntary market rather than defaulting to the state-backed insurer.
