Citizens approves 8.7% average rate cut as insurers return to Florida

Regulators approved an average statewide decrease of roughly 8.7% for Citizens Property Insurance beginning with spring 2026 renewals, one of the first broad reductions in years. Because the figure is a statewide average, an individual premium can still move up or down depending on location and risk profile.

Behind the numbers is a large migration of policies back to the private market. Citizens' policy count has fallen sharply from its peak as new and returning carriers take on business, a sign the market is stabilizing after several turbulent seasons.

Homeowners currently with Citizens should compare private options at renewal. Depopulation offers and fresh private quotes can sometimes beat Citizens on both price and coverage, and an independent agent can line them up side by side.