After several years of record-high premiums and insurer withdrawals, Florida’s homeowners insurance market may finally be turning a corner. Recent data from the Florida Office of Insurance Regulation (OIR) and major industry sources suggest that stabilization efforts are beginning to pay off.
What the Numbers Say
- The average premium for a single-family home in Florida rose by only 1.5% from January to August 2025 — from roughly $3,691 to $3,747.
- Since the start of 2024, 29 insurers have filed for rate decreases, while 44 filed for no rate increases.
- The state-run insurer, Citizens Property Insurance Corporation, saw a major drop in policy count — from 768,000 to 569,000 policies as private carriers re-entered the market through depopulation programs.
- From late 2022 to 2025, total direct written premiums climbed roughly 40%, showing that while rates remain high, premium growth has started to plateau.
(Sources: Insurance Journal, Florida OIR
, Florida Realtors
)
What This Means for Florida Homeowners
For many Floridians, this news brings cautious optimism. More private insurers mean more competition and better availability, which could eventually lead to lower rates or improved policy options.
However, homeowners should stay proactive:
- Review your coverage annually. Make sure your replacement cost and wind/hail deductibles are up to date.
- Check for mitigation discounts. Wind-mitigation inspections and hurricane shutters can earn valuable savings.
- Stay alert for carrier transitions. If your Citizens policy is being transferred, review the new carrier’s terms carefully.
A Step in the Right Direction
While Florida’s insurance market isn’t out of the woods yet, the signs point to gradual stabilization. Legislative reforms, depopulation efforts, and increased carrier confidence are starting to make a real impact — and that’s something worth celebrating.
At Singh Insurance & Financial Services, we stay ahead of the market so you can stay protected. Let our team help you navigate today’s evolving homeowners landscape with confidence and clarity.
Contact us for a personalized homeowners insurance review and see how new market changes could benefit you.