Most customers of state-owned Citizens Property Insurance Corp. could see significant rate decreases in 2026.
The company is recommending an average 2.6% statewide rate decrease for personal lines accounts beginning on June 1.
Most South Florida homeowners would see far larger decreases while average rates are projected to increase in several Central Florida counties, including Orange, Osceola, Lake and Brevard.
During its quarterly meeting on Wednesday, the company’s Board of Governors attributed the rate decreases to continued success of reforms enacted in 2022 and 2023 and resulting efforts to transfer Citizens policies to private-market insurers.
The insurer of last resort’s policy count has decreased sharply in recent years, from about 1.4 million in September 2023 to 439,079 in November. The year-end policy count is about 386,000 fewer than the company projected, CEO Tim Cerio said.
Although the board OK’d the rate recommendations on Wednesday, they still must be approved by the Florida Office of Insurance Regulation.
Cerio said the rate decrease is the first for the company in 10 years.
Personal lines accounts include multi-peril and dwelling/fire coverage of owner-occupied single-family homes, condo units, and mobile homes. It also includes wind-only hurricane coverage.
Across the state, a projected 463,096 policyholders would save an average premium savings of $359 compared to 2025.
The company projects that 228,961 personal lines policyholders in South Florida’s tricounty region would see rates decreased by more than 11%.
In Broward County, 68,662 policyholders would see rates fall by 12.6%, resulting in an average premium savings of $421.
In Palm Beach County, 54,369 policyholders would see rates decreased by 11.7%, resulting in average savings of $423.
In Miami-Dade County, 105,930 policyholders would see rates decline by 13%. They would save $433 on average.
Overall rate increases are projected for four Central Florida counties.
Personal lines customers in Orange County would see rates increase by an average 1.8%. Osceola County policyholders would see a 5.2% hike, while Lake County customers would see rates climb an average of 4.1%. In Brevard County, rates would jump 6.5%.
Customers in Polk County would see an average decrease of 0.7% and rates for Seminole County policyholders would decline by an average of 4.1%.
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Ron Hurtibise covers business and consumer issues for the South Florida Sun Sentinel. He can be reached by phone at 954-356-4071 or by email at rhurtibise@sunsentinel.com.