07/29/2026
FL Insurance News:
1. Florida Homeowners Insurance Rates Decreasing: Citizens Property Insurance announced an average statewide rate reduction of 8.7% for 2026, with private carriers following suit.
2. Legislative Reforms Driving Stabilization: Reforms from 2022-2023 have significantly reduced litigation, with Florida's share of nationwide homeowners insurance lawsuits dropping from 79% to 41% by 2025.
3. Increased Market Competition: 17-21 new private insurers have entered the Florida market, boosting competition and offering more favorable rates.
4. Auto Insurance Rates Down: Auto insurance rates are also experiencing an approximate 8% decrease among top carriers in Florida.
5. New Roof Legislation: House Bill 815 (effective July 1, 2026) prevents insurers from refusing coverage based solely on roof age without considering its actual condition.