Florida Approved Four More Home Insurance Rate Cuts Averaging 7 Percent as Citizens Shrinks

Updated Oct 15, 2026: Citizens lifted its Isaias binding suspension at 5 a.m. ET on October 10.

Florida's Office of Insurance Regulation approved four more homeowners rate decreases averaging 7%, covering about 62,000 policies at renewal, Insurance Journal reported on September 23. Requested decreases now range from 0.3% to 19.7%, per the same report, and Carrier Management reported that the 30-day average requested homeowners change is a 4.8% decrease.

The four approvals

• One Alliance North America, formerly Universal North America: down 10.4% on 17,148 policies.
• Vyrd: down 10.4% on 26,751 policies.
• Safe Harbor: down 4.1% on 10,501 policies.
• Unique: down 3.2% on 8,266 policies.

“I expect to see more aggressive rate cuts in the near future and going into 2027.”Michael Yaworsky, Insurance Commissioner, Florida Office of Insurance Regulation

Citizens keeps shrinking

Citizens, the state insurer of last resort, had nearly 255,000 policies as of September 18, CEO Tim Cerio said, per Florida Realtors, and expects to finish the year with about 248,000. Insurance Journal put the count at 1.4 million in 2023 and 266,231 in August. Carrier Management reported Citizens' total insured value is expected at $85 billion this year, down from $553 billion in 2023. “I don't think we're going to grow because it is such a robust market,” Cerio said. “If you see an increase, you should shop your policy,” he added, per Carrier Management.

Kin in Miami-Dade

For South Florida the filing to watch is Kin's. Insurance Journal reported Kin planned decreases of up to 20% in three South Florida counties. Florida Realtors reported average cuts of more than 20% and named the counties as Broward, Miami-Dade and Palm Beach. The two descriptions differ, so the safe read is cuts of about 20% for Kin policyholders in South Florida, including Miami-Dade.

My read

These are company averages applied at renewal. They do not mean any specific Miami home gets 7% off, and I would not budget that way. What they do mean is that a quote pulled during your inspection period this fall may not match the one in a seller's old closing file, and the direction lately has been down. If you are buying, get two or three quotes before your inspection period ends, not after. If you are on Citizens and your renewal went up, take Cerio's advice and shop it. If you are selling, a current quote from a private carrier is a useful document to hand a buyer, because it replaces a guess with a number. One timing note: Citizens suspended binding statewide at 11:05 a.m. on October 7 for Tropical Storm Isaias and did not lift it until 5 a.m. on October 10. Quotes are easy. Binding depends on the calendar, so do not leave it for closing week.