Are Home Insurance Rates in Florida Really Decreasing? What Southwest Florida Homeowners Need to Know
By Charley Insurance | Proudly Serving Punta Gorda, Fort Myers, Cape Coral, Naples & All of Southwest Florida
“Are Florida home insurance rates really decreasing, or are these just headlines?” It’s a fair question, and one we’re hearing from homeowners across Southwest Florida in Punta Gorda, Fort Myers, Cape Coral, and Naples every week. The honest answer, backed by an official announcement from Governor Ron DeSantis in January 2026: yes, they really are.
Here’s a straightforward look at what was announced, what’s actually driving the change, and what you can do to make sure those savings show up for you.
Are Florida Home Insurance Rates Actually Decreasing Right Now?
According to the Governor’s official announcement, yes, and the numbers are specific.
Citizens Property Insurance policyholders across all 67 Florida counties will see meaningful premium reductions beginning in Spring 2026 at policy renewal. The statewide average reduction is 8.7%, and over 330,000 Citizens policyholders will receive a premium decrease.
Governor DeSantis said: “The reductions in Citizens Insurance rates are the most significant in recent memory.”
And it’s not just Citizens. Private homeowners’ insurance companies are also filing for and receiving rate reductions. The Governor’s announcement specifically named:
Florida Peninsula: average reduction of 8.2%
Security First: average reduction of 8%
Universal Property & Casualty: average reduction of 5.1%
Since Florida’s insurance reforms were enacted, 17 new insurance companies have entered the Florida market. That’s 17 additional carriers competing for your business and competition is one of the most reliable forces for keeping prices down.
Why Are Florida Home Insurance Premiums Decreasing Now?
This is the question worth understanding, because knowing why rates are coming down tells you whether these changes are real and durable. According to the Governor’s announcement, there are four clear reasons.
Lawsuit Reform Is Working
For years, Florida had a runaway litigation problem that made the state’s insurance market one of the most expensive and unstable in the country. Florida’s reforms eliminated one-way attorney fees and abusive assignment-of-benefits agreements practices that had incentivized excessive lawsuits against insurers.
The result: a sharp decline in insurance litigation. Fewer lawsuits mean lower costs for carriers, and lower costs get passed to policyholders as lower premiums. Insurance Commissioner Mike Yaworsky put it simply in the announcement: “These positive results are entirely related to our historic tort reforms.”
Actual Losses Are Lower Than Expected
When insurance companies price your policy, they build in estimates for how much they expect to pay out in claims. According to the Governor’s announcement, actual losses in Florida have trended below those prior projections. That’s a meaningful factor in the rate decreases now being approved statewide.
Reinsurance Costs Are Coming Down
Reinsurance, which is the coverage insurers carry to protect themselves from catastrophic losses, had gotten very expensive in Florida following major hurricane seasons. Those costs had been passed along to homeowners in the form of higher premiums. The Governor’s announcement confirmed that reinsurance costs have now declined, and that reduction is flowing through to Florida homeowners.
Citizens Has Shrunk to a 14-Year Low
Citizens Property Insurance, Florida’s state-backed insurer of last resort, peaked at over a million policies not long ago. As of January 2025, that count had fallen to 395,144, a 50% reduction from the prior year and the lowest level in 14 years. The announcement describes this as the largest transition of policies back to the private market in a decade. More private market competition means better pricing options for Florida homeowners.
Which Insurance Companies in Florida Are Decreasing Rates?
According to the Governor’s announcement, both homeowners and auto insurance companies across Florida are filing for and receiving rate reductions.
On the homeowners’ side, the announcement specifically named Florida Peninsula (8.2% reduction), Security First (8%), and Universal Property & Casualty (5.1%). Florida’s Office of Insurance Regulation has confirmed that dozens of homeowners insurers have filed for rate decreases since the reforms took effect.
On the auto insurance side, the announcement named:
USAA: average decrease of 7%
Florida Farm Bureau: average decrease of 8.7%
Progressive: average decrease of 8%
Allstate: average decrease of 4% for over 13,000 Florida drivers
The broader market shift is significant. Chief Financial Officer Blaise Ingoglia noted in the announcement that four years ago “our insurance market was near collapse.” The turnaround has been substantial.
How Can I Find Cheaper Home Insurance in Florida Right Now?
Understanding that rates are broadly decreasing is one thing. Making sure those savings apply to your specific policy in Punta Gorda, Fort Myers, Cape Coral, or Naples takes some action on your part. Here’s where to start.
Compare Florida Home Insurance Quotes
With 17 new carriers in the market and dozens filing for rate decreases, the company that was your best option a couple of years ago may not be today. Comparing Florida home insurance quotes at each renewal and using an independent agency that can check multiple carriers at once is the most reliable way to find out if you’re getting the best available rate for your home.
[Compare Florida home insurance quotes with Charley Insurance →]
Can You Switch to a Provider with Lower Rates?
Yes, and it can make a real difference. If you’re with Citizens and your policy is being transitioned to a private carrier through the depopulation process, you have options about which carrier you move to. If you’re already with a private carrier, it’s worth checking whether a comparable or better policy is available at a lower price elsewhere. Switching is more straightforward than most homeowners expect.
[Talk to a Charley Insurance agent about switching to a lower-rate provider →]
Look Into the My Safe Florida Home Program
The Governor’s announcement specifically highlighted continued investment in the My Safe Florida Home program for 2026. This program helps homeowners harden their homes against weather events and hardening your home can directly lower your insurance premiums. If you haven’t explored this program, it’s worth a conversation.
Frequently Asked Questions: Florida Insurance Rates Decreasing
Are Florida home insurance rates really decreasing, or just for certain people?
The official announcement confirms a statewide average decrease of 8.7% for Citizens policyholders, with private carrier reductions also underway across the state. That said, individual results vary by carrier, county, and property. Not every homeowner will see the same reduction which is why comparing quotes for your specific home matters.
Which companies offer the best decreasing rates in Florida?
The Governor’s announcement named Florida Peninsula, Security First, and Universal Property & Casualty on the homeowners side. For auto insurance, USAA, Florida Farm Bureau, Progressive, and Allstate were highlighted. The best rate for your specific home in Southwest Florida depends on your location, property characteristics, and coverage needs. An independent agent can identify which carriers are most competitive for your address.
How do I compare Florida home insurance rates the right way?
Don’t just look at the premium number. Make sure you’re comparing equivalent coverage, the same dwelling limit, the same hurricane deductible, the same liability coverage. Two policies with the same price but different deductibles are not the same policy. An independent agency does this comparison across multiple carriers so you can make a real apples-to-apples decision.
Are Florida home insurance premiums actually going to keep decreasing?
Based on the Governor’s announcement, the factors driving the decreases like lower litigation, improved loss ratios, declining reinsurance costs all reflect structural changes to Florida’s legal and insurance environment, not temporary conditions. State officials expressed confidence that the positive trend will continue as long as the reforms remain in place.
Where can I find Florida insurance providers with lower rates in Punta Gorda or Southwest Florida?
Charley Insurance is a local, independent agency serving homeowners in Punta Gorda, Port Charlotte, Charlotte County, Fort Myers, Cape Coral, Lee County, Naples, and Collier County. We work with multiple carriers and compare options on your behalf to find the best available rate for your specific home.
[Find competitive Florida home insurance rates with Charley Insurance →]
The Bottom Line
Florida home insurance rates are decreasing, confirmed by the Governor’s office, driven by real structural reforms, and showing tangible reductions for hundreds of thousands of homeowners across the state.
For Southwest Florida homeowners in Punta Gorda, Fort Myers, Cape Coral, and Naples, the direction is clearly favorable. But capturing those savings means taking action: comparing quotes, understanding your options, and working with someone who knows the local market.
That’s exactly what Charley Insurance is here to help you do.
[Request your free policy review and quote comparison from Charley Insurance →]
Proudly serving Punta Gorda, Port Charlotte, Charlotte County, Fort Myers, Cape Coral, Lee County, Naples, Bonita Springs, Collier County, all of Southwest Florida and the state of Florida.