MEETING. BUT VILLAGE LEADERS WILL NOT BE VOTING ON THE PROJECT JUST YET. >> INSURANCE RATES ARE STABILIZING WITH SOME COMPANIES EXPECTED TO DROP RATES THIS YEAR. THE GOVERNOR CREDITS THE STATE’S LEGISLATIVE OVERHAUL OF THE INSURANCE INDUSTRY. >> I THINK WE HAVE THE RIGHT TO INSIST THAT CITIZENS IS DOING ALL IT CAN TO BRING RELIEF TO ITS CUSTOMERS. THEY WEREN’T IN A POSITION TO DO THAT. ADMITTEDLY A COUPLE YEARS AGO WHEN WE WERE IN A MUCH MORE DIFFICULT ENVIRONMENT. BUT SINCE THESE REFORMS HAVE REALLY STABILIZE THINGS, MAN PASS ON THE SAVINGS TO THESE FOLKS. >> CITIZENS IS THE STATE-BACKED INSURER OF LAST RESORT. FLORIDA’S INSURANCE COMMISSIONER SAYS MORE COMPETITION MEANS MORE OPTIONS AND LOWER PREMIUMS. HOMEOWNERS HERE, THOUGH, ARE STILL PAYING SOME OF THE HIGHEST RATES IN THE COUNTRY. REPORTER DAVE ELIAS, WHO COVERS THE INSURANCE INDUSTRY EXPLAINS WHAT IT MEANS FOR YOUR WALLET. THIS YEAR. FOR YEARS, FLORIDA HOMEOWNERS FACED A PERFECT STORM. HURRICANES LAWSUIT AND INSURANCE COMPANIES LEAVING THE STATE. IN FACT, AT ONE POINT MORE THAN A MILLION POLICYHOLDERS ARE ACTUALLY PUSHED INTO THE STATE RUN CITIZENS. THAT’S FLORIDA’S INSURER OF LAST RESORT RATES, SPITE AND OPTIONS DISAPPEARED. >> BUT AS WE MOVE INTO 2026, STATE LEADERS SAY THE MARKET IS TURNING A CORNER AFTER THE RATES JUST WENT OUT OF CONTROL. LAWMAKERS CRACK DOWN ON FRAUD, LIMITED COSTLY LAWSUITS, MAKING FLORIDA MORE ATTRACTIVE FOR INSURERS. THE RESULT MORE COMPANIES ARE NOW WRITING POLICIES. IT WAS SO SCARY BECAUSE >> YOU HEAR STORIES OF PEOPLE THAT. >> DO THEY PAY THEIR DID THEY GET THEIR MEDICINES? BUT RATE INCREASES ARE SLOWING. IN FACT, 6 COMPANIES ANNOUNCED THEY’RE CUTTING RATES SOME AS MUCH AS 11%. A WELCOME FOR RETIREES LIKE MARION, A MEDIA AND HER HUSBAND. BOB, WANT TO FIXED INCOME. >> YOU KNOW, WE’RE BOTH RETIRED AND IT’S SCARY BECAUSE YOU DON’T KNOW WHAT TOMORROW’S GOING TO BRING. WE’RE HEADING INTO 2026 WITH A POSITIVE NOTE. INSURANCE AGENT DOUG NELLANS PREDICTS EVEN MORE RATE DECREASES IN THE COMING YEAR. IT PUTS PRESSURE ON THE OTHER CARRIERS TO FOLLOW SUIT AND FILE RATE DECREASES OF THEIR OWN AND CITIZENS INSURANCE IS SHRINKING. FROM 1.4 MILLION CUSTOMERS IN 2023. NOW DOWN TO JUST OVER 396,000. NOW IS A GREAT TIME TO SHOP THE MARKET BECAUSE COMPANIES ARE WIDE OPEN FOR BUSINESS. HOWEVER, FLORIDA STILL HAS SOME OF THE HIGHEST HOME INSURANCE COSTS IN THE NATION. THERE’S STILL PLENTY OF ROOM FOR IMPROVEMENT PAYING ON AVERAGE NEARLY 5,000 A YEAR. OLDER HOMES, JEWELERS AND COASTAL PROPERTIES BEING EVEN MORE MARRYING IN URGING LAWMAKERS NOW TO DO MORE. THEY COULD. >> JUST GO ONE MONTH ON WHAT WE GET FROM SOCIAL SECURITY. GUARANTEE THINGS WOULD CHANGE 2026 BRINGS MORE STABILITY. EXPERTS SAY IT’S A RESET, NOT A ROLLBACK. NOT IMPORTANT NOTE, EVEN WITH SOME RELIEF EXPERTS SAY THAT FLORIDA HOMEOWNERS SHOULD NOT EXPECT PREMIUMS TO DROP BACK TO PRE-PANDEMIC LEVELS ANYTIME SOON. >> LAWMAKERS SAY THE GOAL NOW IS STABILITY WATCHING HOW THIS YEAR’S HURRICANE
Florida’s home insurance market is stabilizing early in 2026, with state leaders noting improvements following recent reforms aimed at reducing fraud and limiting costly lawsuits. For years, homeowners in the state faced challenges from hurricanes, lawsuits, and insurance companies exiting the market, leading to over a million policyholders relying on Citizens, Florida’s insurer of last resort. However, state leaders now say the market is turning a corner.Maryann Almeida, a Florida resident, said, “After Ian, the rates just went out of control.” Lawmakers have addressed fraud and limited costly lawsuits, making Florida more attractive to insurers, resulting in more companies writing policies again. Almeida added, “It was so scary because you hear stories of people, do they pay their insurance or do they get their medicines?”Rate increases are slowing, with six companies announcing rate cuts, including Florida Peninsula Insurance at 8.4%, Heritage Property & Casualty at 6.4% in Lee and Collier, The Patriot Select Insurance at 11.3%, and Citizens Property Insurance up to 11%. This is welcome news for retirees like Almeida and her husband Bob, who are on a fixed income. “We’re on a fixed income, we’re both retired, and it’s scary because you don’t know what tomorrow is going to bring,” Almeida said.Insurance agent Doug Nellans expressed optimism, saying, “We’re heading into 2026 with a positive note.” He predicts more rate decreases, noting, “It puts pressure on other carriers to follow suit and file rate decreases of their own.” Citizens Insurance has reduced its customer base from 1.4 million in 2023 to 396,000. Nellans advised, “Now is a great time to shop the market because companies are wide open for business.”Despite these improvements, Florida still has some of the highest home insurance costs in the nation, with an average cost of nearly $5,000 a year. Older homes, including modular and coastal properties, pay even more. Almeida urged lawmakers to do more, saying, “If they could just go one month on what we get for social security, I guarantee things would change.”While 2026 brings more stability, experts say it’s a reset, not a rollback. Even with some relief, experts say Florida homeowners should not expect premiums to return to pre-pandemic levels soon. Lawmakers emphasize that the goal now is stability while monitoring how this year’s hurricane season impacts rates going forward.DOWNLOAD the free Gulf Coast News app for your latest news and alerts on breaking news, weather, sports, entertainment, and more on your phone or tablet. And check out the Very Local Gulf Coast app to stream news, entertainment and original programming on your TV.
FORT MYERS, Fla. —
Florida’s home insurance market is stabilizing early in 2026, with state leaders noting improvements following recent reforms aimed at reducing fraud and limiting costly lawsuits.
For years, homeowners in the state faced challenges from hurricanes, lawsuits, and insurance companies exiting the market, leading to over a million policyholders relying on Citizens, Florida’s insurer of last resort. However, state leaders now say the market is turning a corner.
Maryann Almeida, a Florida resident, said, “After Ian, the rates just went out of control.” Lawmakers have addressed fraud and limited costly lawsuits, making Florida more attractive to insurers, resulting in more companies writing policies again. Almeida added, “It was so scary because you hear stories of people, do they pay their insurance or do they get their medicines?”
Rate increases are slowing, with six companies announcing rate cuts, including Florida Peninsula Insurance at 8.4%, Heritage Property & Casualty at 6.4% in Lee and Collier, The Patriot Select Insurance at 11.3%, and Citizens Property Insurance up to 11%.
This is welcome news for retirees like Almeida and her husband Bob, who are on a fixed income.
“We’re on a fixed income, we’re both retired, and it’s scary because you don’t know what tomorrow is going to bring,” Almeida said.
Insurance agent Doug Nellans expressed optimism, saying, “We’re heading into 2026 with a positive note.” He predicts more rate decreases, noting, “It puts pressure on other carriers to follow suit and file rate decreases of their own.” Citizens Insurance has reduced its customer base from 1.4 million in 2023 to 396,000. Nellans advised, “Now is a great time to shop the market because companies are wide open for business.”
Despite these improvements, Florida still has some of the highest home insurance costs in the nation, with an average cost of nearly $5,000 a year. Older homes, including modular and coastal properties, pay even more.
Almeida urged lawmakers to do more, saying, “If they could just go one month on what we get for social security, I guarantee things would change.”
While 2026 brings more stability, experts say it’s a reset, not a rollback. Even with some relief, experts say Florida homeowners should not expect premiums to return to pre-pandemic levels soon. Lawmakers emphasize that the goal now is stability while monitoring how this year’s hurricane season impacts rates going forward.
DOWNLOAD the free Gulf Coast News app for your latest news and alerts on breaking news, weather, sports, entertainment, and more on your phone or tablet. And check out the Very Local Gulf Coast app to stream news, entertainment and original programming on your TV.