Homeowners Insurance Rate Decreases Reach 824,300 Florida Policyholders: What to Check at Renewal

For many Florida families, the homeowners insurance renewal notice has been one of the most stressful pieces of mail of the year. On October 29, 2026, the Florida Office of Insurance Regulation (OIR) announced that more than 824,300 homeowners will see rate decreases on new policies or renewals from filings that took effect in October, with decreases of up to 12.1 percent ¹. OIR said additional decreases are pending for November, December and January and will reach roughly 450,000 more policyholders ¹². The news is welcome, but what it means for any one household depends on the details of the policy and the rest of the budget.

Which companies cut rates

OIR highlighted the following October filings, listing the policy type, the average change, the approximate number of consumers and the effective date ¹:

• Cypress P&C (HO3, HO6): minus 12.1 percent, about 64,300 consumers, October 1
• Manatee Insurance Exchange (HO6): minus 3.5 percent, about 3,850 consumers, October 1
• Kin Insurance (HO3): minus 3.4 percent, about 99,800 consumers, October 8
• Castle Key Indemnity (HO6): minus 12 percent, about 51,580 consumers, October 11
• Castle Key Insurance (HO6): minus 10.3 percent, about 4,700 consumers, October 11
• Universal P&C (HO3, HO4, HO6, HO8): minus 5 percent, about 512,000 consumers, October 16
• Security First (HO6): minus 7.3 percent, about 17,300 consumers, October 20
• Mangrove Insurance (HO3): minus 5.6 percent, about 4,000 consumers, October 27
• Olympus Insurance (HO3, HO6): minus 0.1 percent, about 66,800 consumers, October 31

Seven of the nine filings include HO6 policies, the coverage condominium unit owners buy for their own units ¹. OIR also noted August filings already in effect from American Integrity Insurance Company, including a 0.3 percent decrease for about 184,000 consumers and a 12.3 percent decrease for about 8,900, and an 8 percent decrease from Florida Family Home Insurance Company for about 20,700 consumers ¹.

Since January 2024, OIR said, 48 companies have filed for rate decreases and 53 have requested no change ¹². State officials credit the Legislature’s tort reforms for the shift, and Chief Financial Officer Blaise Ingoglia described the decreases as evidence of changes in the market since those reforms ¹².

What an average decrease does and does not mean

A filed rate change describes a company’s overall change, not every policy. An individual premium can still move differently based on the home’s age, roof, location, coverage limits and deductibles. A smaller rate can also be offset if coverage amounts rise at renewal. For that reason, the most useful step is to compare the new declarations page line by line with last year’s, rather than relying on the headline number.

A few practical checks for Florida homeowners at renewal:

• Compare the premium, the hurricane deductible and the dwelling coverage limit with the prior year.
• Ask the agent whether the carrier is one of the companies with an approved decrease, and when it applies to the policy ¹.
• For condo owners, review the HO6 policy alongside any increase in association dues or special assessments, since both affect the monthly cost of owning the unit.
• For homeowners with a mortgage, confirm whether the lender’s escrow analysis will adjust the monthly payment after the new premium is paid.

Insurance savings and household debt

For a household that fell behind during several years of rising premiums, a lower renewal may free up a modest amount each month. That room can go toward catching up on a mortgage, property taxes or credit cards that absorbed past increases. If the gap is too large to close through savings alone, it may be time to look at the whole picture, including whether a Chapter 13 repayment plan or a Chapter 7 filing would help protect a home and reset the budget.

Anyone in South Florida weighing their options can request a confidential consultation with The Roca Law Firm, in English or Spanish.