Florida’s property insurer of last resort’s Board of Governors has approved rate recommendations for 2026 that will lower premiums for insureds for the first time since 2015.
On December 10, Citizens Property Insurance announced its 2026 rate recommendations, calling for a statewide average premium decrease of 2.6% for personal lines policies. Under these recommendations, three out of five policyholders will receive an average rate reduction of 11.5% — or about $360 per year.
Citizens’ policy count has significantly dropped since its peak of 1.42 million in October 2023, with the insurer predicting its active policy count will fall to 385,000 to close out 2025 — a decrease of 73% from its peak. Citizens Depopulation Program has transferred more than 546,000 policies to private insurance companies in 2025.
Citizens also credits insurance reforms championed by state leaders and lawmakers for its ability to drop premiums for its insureds.
"Critical reforms championed by Gov. DeSantis and approved by the Florida Legislature have done what they were supposed to do: provide rate relief to policyholders and stability to the Florida market," Tim Cerio, Citizens president/CEO and executive director, said in a release. "These 2026 rate proposals are further confirmation that Florida’s insurance market is thriving."
The rate recommendation was filed with the state’s Office of Insurance Regulation. Following a public hearing, the OIR will review the rate proposals and determine whether amendments are needed before setting the insurer’s 2026 rates.
County-by-county estimates of Citizens’ 2026 rate proposal can be found here.
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