Florida approves four homeowners rate cuts covering 62,000 policies, but your renewal may differ

Florida's Office of Insurance Regulation (OIR) announced on Sept. 22 that it approved rate decreases for four homeowners insurers, affecting "over 62,000 policies" at renewal. The four approvals, as listed in the OIR release:

Those four counts add up to 62,666. OIR also says 48 companies have filed rate decreases since January 2024 and 53 have requested no change or a 0% increase, and that the commissioner expects more cuts going into 2027.

Approved is not the same as billed

A rate decrease is a change to an insurer's filed rates, usually stated as an average. What a household pays at renewal depends on the home's insured value, roof age and wind mitigation, deductible, coverage choices, discounts and fees, and a change in any of those can outweigh a small rate cut. The release says the decreases apply at renewal, so timing differs by policy. We have not seen any renewal notices, and this brief does not show that every Florida homeowner will pay less.

Four insurers with about 62,000 policies is also a small slice of a large market, so the headline filing counts say little about the policy you hold.

How to compare before you renew

1. Read the renewal notice line by line. Compare insured value, deductibles (especially the separate hurricane deductible), and listed discounts with last year's declarations page.
2. Ask your agent or insurer whether the approved decrease applies to your policy and when your renewal date falls.
3. Use OIR's CHOICES tool to see how companies price in your county. OIR describes the homeowners view as sample average rates for three predefined model homes, and says all CHOICES rates are "for illustrative purposes only"; contact an agent or insurer for an actual quote.
4. Get like-for-like quotes. Same coverage, same deductible, same insured value, or the comparison misleads.

The cost of owning is part of a wider affordability picture; see our brief on the Atlanta Fed's Miami-area ownership-cost estimates, which name insurance as one of the costs that have moderated.

Sources: Florida OIR release, Sept. 22, 2026; OIR CHOICES Rate Comparison Tool. News brief on public records; we did not contact the insurers. Not insurance advice.