Florida Homeowners & Flood Specialists
August 1, 2026 · HOInsurance.com
After years of rate increases that left Florida homeowners frustrated and stretched thin, 2026 is bringing welcome news: home insurance premiums are coming down.
Here’s what’s happening, why it matters, and what you should do about it right now.
Citizens Property Insurance — Florida’s insurer of last resort — approved an 8.7% average statewide rate reduction for 2026. That’s the first rate cut in over a decade, and it’s affecting more than 330,000 policyholders.
But here’s the thing: Citizens isn’t the only one moving.
Private carriers including Florida Peninsula, Security First, and Universal are filing cuts of their own — ranging from 5% to 15%. The private market is getting competitive again, and that’s great news for you.
Remember the Florida property insurance crisis? The legislative reforms that passed in 2022 and 2023 were designed to stabilize the market — and they’re working.
Since those reforms, 17 new private insurance companies have entered Florida, with 15 of them coming in just since August 2025. More carriers means more competition, and more competition means better pricing and more options for homeowners like you.
If you haven’t shopped your home insurance in the last 12 months, you may be leaving real money on the table.
If you’re currently insured with Citizens, you may have been notified about a “depopulation” — being transferred to a private carrier. If that happened to you, your Year 2 renewal could look very different from Year 1.
Some homeowners are seeing renewal increases of 200% or more after that first year on their new private carrier. That’s not a typo.
The good news? You can shop. You’re not locked in. And right now, with more carriers and lower rates across the board, it’s one of the best times in recent memory to compare options.
Yes — and it’s worth understanding.
The 2026 Atlantic hurricane season forecast is slightly below average. More importantly, the reinsurance markets are healthy — strong cat bond issuance means carriers have the capital backing they need. That stability is part of what’s allowing carriers to compete aggressively on price right now.
That said, Florida is Florida. Don’t let lower premiums tempt you into cutting coverage. Make sure your policy reflects your home’s current replacement cost, especially with construction costs still elevated from recent years.
1. Get a fresh quote. Rates have changed. Your current premium may not reflect today’s market. A 15-minute review could save you hundreds per year.
2. Check your coverage limits. Lower premiums are great — but make sure your dwelling coverage is keeping pace with what it would actually cost to rebuild your home today.
3. Ask about new carrier options. With 17 new entrants in the market, there may be carriers available to you now that didn’t exist 12 months ago.
At HO Insurance, we shop your home insurance across multiple carriers in minutes — no phone tag, no pressure, no jargon.
Whether you’re a current Citizens customer, coming up on renewal, or just wondering if there’s a better rate out there — we’ll find it for you.
Questions? We’re here. Florida homeowners deserve straight answers and real options.
Our team specializes in Florida homeowners and flood insurance. We shop 50+ carriers to find you the best rate.