Why Right Now Might Be the Best Time to Shop for Home Insurance in Florida

The Florida home insurance market has had a rocky couple of years, cementing its status as one of the priciest insurance markets in the country. According to data from Insurify, average annual home insurance premiums in Florida hovered around $8,292 in 2025. Furthermore, the Coalition for an Insurable Future, which represents business leaders and insurance experts, found that Florida homeowners insurance premiums increased at approximately twice the national average between 2021 and 2025.

Many experts point to major catastrophic weather events as a driving force behind rising insurance prices in the Sunshine State. Other contributing factors cited in the report include excessive litigation, which can drive up claim payouts and legal costs, as well as rising reinsurance costs that help insurance companies manage catastrophic risk.

However, the Florida insurance market may finally be showing signs of stabilization.

That shift could be good news for Florida homeowners. According to the Florida Office of Insurance Regulation (OIR), homeowners insurance rates have decreased in 51 Florida counties so far this year, signaling that the market may be moving in a more favorable direction for consumers.

One factor contributing to the changing market is the growing number of insurance companies entering Florida. According to Florida Insurance Commissioner Mike Yaworsky, Florida is becoming increasingly attractive to companies looking to deploy capital. Since the state's insurance reforms were enacted, 20 new companies have begun writing property coverage in Florida.

More companies entering the market means more options for Florida homeowners. Increased competition can give homeowners more opportunities to compare coverage, premiums and policy features rather than simply accepting the renewal offered by their current insurer.

For homeowners, that makes 2026 a potentially good time to review their existing policy and shop around. Even if your premium has not decreased, comparing your current coverage with other available options could help you determine whether you are getting the right combination of coverage and value for your home.