ORLANDO, Fla. — As the 2026 hurricane season continues, the Florida Office of Insurance Regulation reported that home insurance rates have decreased in 51 counties so far this year.
Lawmakers say legislation they passed in 2022 to reform the state’s insurance industry is now correcting the market.
They say fewer frivolous lawsuits from homeowners, fewer policies held by the state-run Citizens Property Insurance Corporation and increasing competition among insurance companies are starting to fix Florida’s insurance challenges.
Insurance comparison platform Insurify says the average yearly cost for home insurance in Florida is $6,060 for a home with $300,000 in dwelling coverage. State Rep. David Smith, a Republican serving Seminole County, says the outlook is improving after lawmakers passed reforms three years ago.
“Multiple insurers are reducing rates. Multiple new insurance companies are coming into Florida and starting writing policies,” Smith said.
The Florida Office of Insurance Regulation says since 2024, 44 insurance companies in Florida requested a rate decrease, and 48 companies requested a zero percent increase, helping to keep insurance bills in check.
New laws in Florida eliminated one-way attorney fees that regulators claim gave homeowners incentives to file frivolous lawsuits, driving up insurance companies’ legal costs.
Mark Friedlander with the nonprofit Insurance Information Institute says that change to reduce fraud made a big difference.
“Less lawsuits equals less expenses for insurers, equals savings passed along to consumers,” he said.
State regulators say that in 2020, 79% of all homeowners’ insurance lawsuits filed across the U.S. were filed in Florida, and in 2025 that number dipped from 79% to 41%, lowering insurance companies’ legal costs.
Friedlander also says reinsurance costs are also falling, which is coverage insurance companies buy to cover their losses. According to Smith, it makes up 43% of a homeowner’s insurance premium.
“Global reinsurers are very confident in supporting Florida regional insurers, and they’re offering much more favorable rates,” Friedlander said.
Smith thinks Florida’s insurance market is heading in the right direction.
“If we can get through another hurricane season without getting clobbered, I think you’ll see rates drop significantly,” Smith said.
Friedlander adds that home insurance prices depend on how close the home is to the coast, how old the house is and how it was built.
The consumer advocate said that residents can harden their homes against windstorms to get discounts on their bills. He suggests things like hurricane straps and tie-downs for roof, a wind-rated garage door and wind-rated windows to make a difference.
State Rep. Anna Eskamani, a Democrat serving District 42 in Orlando, sent a statement about home insurance rates to Spectrum News:
“Many Floridians have seen their annual insurance premiums double or triple over the past eight years, and unfortunately, Florida still has the most expensive insurance rates in the country. We must do far more to bring insurance rates down to make homeownership truly affordable again, and we need to do it in a way that doesn’t leave Floridians completely defenseless when an insurance company unfairly and intentionally delays or denies legitimate claims. I’m glad to hear of some personal experiences of rates lowering, but this legislative session, my Republican colleagues passed bills that will further raise insurance rates on condo owners, all to please a billionaire donor. The work continues.”