Are Florida Home Insurance Rates Decreasing? Here’s What Punta Gorda & Southwest Florida Homeowners Need to Know

By Ted Todd Insurance | Serving Punta Gorda, Port Charlotte, Fort Myers, Cape Coral, Naples & Southwest Florida

If you’ve been asking “are home insurance rates in Florida currently decreasing?” The answer, straight from the Florida Governor’s office, is yes. In January 2026, Governor Ron DeSantis announced major insurance rate relief for Florida homeowners, and the numbers behind that announcement are significant.

Here’s what the announcement actually said, what it means for homeowners in Punta Gorda, Port Charlotte, Fort Myers, Cape Coral, and Naples, and how to make sure you’re one of the people who benefits.

Are Florida Home Insurance Premiums Actually Decreasing?

Yes, and this is coming directly from the state, not from an insurance company’s marketing department.

Governor DeSantis announced that Citizens Property Insurance policyholders across Florida will see meaningful premium reductions beginning in Spring 2026 at policy renewal. The statewide average reduction is 8.7%, and over 330,000 policyholders across all 67 Florida counties will see a premium decrease.

Governor DeSantis put it plainly: “The reductions in Citizens Insurance rates are the most significant in recent memory. Premiums are lowering because we’ve enacted real reforms and withstood the pressure to reverse course.”

Beyond Citizens, private carriers are also filing for rate decreases. And it’s not just a few companies. Since Florida’s reforms were enacted, 17 new insurance companies have entered the Florida market  increasing competition and giving homeowners more choices than they’ve had in years.

Why Are Florida Home Insurance Rates Decreasing Now?

Understanding the “why” helps you know whether these savings are real and lasting. According to the Governor’s announcement, the decreases are driven by four specific improvements in Florida’s insurance market.

1. Litigation Has Dropped Sharply

Florida’s reforms eliminated one-way attorney fees and abusive assignment-of-benefits practices two mechanisms that had flooded Florida courts with insurance lawsuits for years. The result, according to the announcement, is a sharp decline in litigation. Fewer lawsuits means lower costs for insurers, and lower costs for insurers means lower premiums for you.

Insurance Commissioner Mike Yaworsky stated it directly: “These positive results are entirely related to our historic tort reforms.”

2. Actual Losses Are Coming in Below Projections

When insurers price policies, they estimate how much they expect to pay out in claims. According to the Governor’s announcement, actual losses across Florida have trended below those prior projections which is a key driver of the rate reductions now being approved.

3. Reinsurance Costs Have Declined

Reinsurance is the coverage that insurance companies carry to protect themselves from large-scale losses. When reinsurance costs go up, those costs get passed to policyholders. According to the announcement, reinsurance costs have now declined and that reduction is being passed along to Florida homeowners.

4. Citizens’ Policy Count Has Hit a 14-Year Low

As of January 2025, Citizens Property Insurance policies in force had declined to 395,144, a 50% reduction from the prior year and the lowest level in 14 years. This represents the largest transition of policies back to the private market in a decade. More policyholders in the private market means more competition among carriers and competition brings prices down.

Which Insurance Companies in Florida Are Decreasing Rates?

According to the Governor’s announcement, it’s not just homeowners insurers. Auto insurance companies in Florida are also filing for rate decreases.

For homeowners specifically, Florida Peninsula, Security First, and Universal Property & Casualty have all received reductions and those are just the examples named in the announcement. Florida’s Office of Insurance Regulation has confirmed that dozens of homeowners insurers have filed for rate decreases since the reforms took effect.

How Can You Find Lower Florida Homeowner Insurance Rates Right Now?

Knowing rates are decreasing across the board is encouraging. Actually capturing those savings on your specific policy requires a few deliberate steps.

Compare Florida Home Insurance Quotes

With 17 new carriers in the Florida market and dozens filing for rate decreases, the insurer you’re with today may not be offering the most competitive rate available. Comparing Florida home insurance quotes at renewal, or even between renewals, is the most direct way to find out whether you’re leaving money on the table.

Compare Florida home insurance quotes with Ted Todd Insurance →

Can You Switch to a Provider With Lower Rates?

Yes and it’s often simpler than people expect. If you’re currently with Citizens and your policy is transitioning to the private market, you have options about where it goes. If you’re already with a private carrier that hasn’t filed for reductions, shopping the market is absolutely worth doing.

Talk to a Ted Todd Insurance agent about switching providers →

Ask About the My Safe Florida Home Program

The Governor’s announcement specifically highlighted continued investment in the My Safe Florida Home program for 2026. This program helps Florida homeowners harden their homes against weather events which can directly lower your insurance premiums. If you haven’t looked into this program, now is a good time.

Frequently Asked Questions: Florida Home Insurance Rates Decreasing

Are home insurance rates in Florida currently decreasing for everyone?

The statewide average is heading down, 8.7% for Citizens policyholders, with private carrier reductions also underway. However, your individual outcome depends on your carrier, your county, and your specific property. Not every policy will see the same reduction, which is why comparing quotes matters.

Are Florida home insurance premiums actually going to keep decreasing?

According to the Governor’s announcement, the improvements driving these reductions like lower litigation, better loss ratios, declining reinsurance costs are structural changes, not temporary conditions. Chief Financial Officer Blaise Ingoglia said the market that was “near collapse” four years ago has been fundamentally reformed. The expectation from state officials is that the positive trend continues.

Which companies offer the best decreasing rates in Florida?

The companies named in the Governor’s announcement include Florida Peninsula (8.2% reduction), Security First (8%), and Universal Property & Casualty (5.1%) on the homeowners side. But the best rate for your specific home in Punta Gorda, Port Charlotte, Fort Myers, Cape Coral, Estero, or Naples depends on factors specific to your property. At Ted Todd Insurance, we can compare options across multiple carriers for you.

How do I compare Florida home insurance quotes the right way?

Price is only one piece. Make sure you’re comparing equivalent dwelling limits, hurricane deductibles, and liability coverage, not just the premium number. Ted Todd Insurance can do this comparison work for you across multiple carriers so you get an accurate picture.

Can I switch to a provider with lower rates mid-policy?

You can switch at renewal without any complications. Mid-term switches are also possible, though you’ll want to avoid coverage gaps and double-billing. A local agent like Ted Todd Insurance can help you time a switch correctly if you’re not at a renewal date.

The Bottom Line for Southwest Florida Homeowners

Florida home insurance rates are decreasing, this is official, documented, and coming directly from the Governor’s office. The reforms that made it possible were years in the making, and the results are now showing up in real premium reductions for hundreds of thousands of Florida homeowners.

For homeowners in Punta Gorda, Port Charlotte, Fort Myers, Cape Coral, Naples, Estero, and throughout Charlotte, Lee, and Collier Counties  this is genuinely good news. But the savings don’t land automatically. They go to homeowners who compare the market, know their options, and work with a local agent who understands the Southwest Florida insurance landscape.

Ted Todd Insurance is here to help you find out exactly what’s available for your home right now.

Request a free quote comparison from Ted Todd Insurance →

Serving Punta Gorda, Port Charlotte, Charlotte County, Fort Myers, Cape Coral, Lee County, Naples, Bonita Springs, Collier County, and all of Southwest Florida.

Source: Governor Ron DeSantis Announces Major Insurance Rate Relief as Florida’s Reforms Deliver Results | Executive Office of the Governor (flgov.com)