The Florida Office of Insurance Regulation published a bulletin announcing that Insurance Commissioner Mike Yaworsky has approved substantial rate decreases for homeowners insurance, which will be reflected on over 62,000 policies.
Four insurers were recently approved for rate decreases that will be effective during policy renewals, with two companies requesting rate decreases of –10.4%, and the other two requesting decreases of -4.1% and -3.2%.
The commissioner is expecting more decreases in the near future, announcing that more rate decrease requests have been filed, ranging from -0.3% to -19.7%. Kin Insurance has announced rate decreases of more than 20% on average for residents in Broward, Miami-Dade, and Palm Beach counties.
A report by S&P Global showed that Florida had the lowest rate change in the country in 2025 and was the only state that had a rate decrease. All other states had a weighted average increase of 5.5%.
The bulletin can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.