Florida’s insurance regulators say they are “not taking the foot off the gas” as more than 824,300 homeowners get lower insurance rates this month. The Office of Insurance Regulation (OIR) put out the October figure on Oct. 29, along with a forecast that about 450,000 more Floridians will see decreases in the months ahead. The deepest October cut runs as high as 12.1%, according to the OIR announcement.
The 824,300 count covers homeowners whose new policies or renewals carry a lower rate in October. That is a count of people, not a promise about any one bill. A homeowner’s own change depends on the insurer, the county and the date the policy renews, so the notice that arrives in the mail is the one place the real number shows up.
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How deep do the October cuts go?
The range is wide. The release lists two August filings from American Integrity Insurance Company that are already in effect: a 0.3% decrease for 184,000 consumers and a 12.3% decrease for 8,900. Florida Family Home Insurance Company’s August filing reaches 20,700 consumers.
The same release says 48 companies have filed for a rate decrease since January 2024, while 53 asked for no change or a 0% increase. Put together, those 101 filings show that flat or falling rates have become a normal request, not an exception.
Why are insurers asking for less?
CFO Blaise Ingoglia credited the state’s tort reforms and said Florida families deserve the lowest rates for the best coverage. The industry’s trade group agrees on the cause. Chase Mitchell of the American Property Casualty Insurance Association told Insurance Business in late September that “Florida’s property insurance market has improved dramatically” since the 2022 and 2023 legal changes.
The association’s figures show average homeowners rate increases falling from 9.6% in 2023 to 1.3% in 2024 and 0.9% in 2025. Mitchell also pointed to a quiet 2026 hurricane season, though the season runs through Nov. 30.
The state’s September bulletin adds two more markers. Kin Insurance announced average decreases of more than 20% for homeowners in Broward, Miami-Dade and Palm Beach counties, and an S&P Global report put Florida’s 2025 rate change at -0.92%, the lowest in the nation, against a national weighted average increase of 5.5%.
What is still pending for November through January?
The 450,000 figure comes from pending requests that would take effect in November, December and January. Those requests had not all been approved when OIR spoke, and the agency did not name the insurers behind them in its announcement text. Commissioner Mike Yaworsky said OIR is pushing companies for bigger decreases when their actuaries show they can afford them, and he plans more announcements over the next two months and into the new year.
None of the pending requests binds a company to a date a homeowner can circle. Rates take effect on each insurer’s own schedule, on new policies or at renewal.
Earlier waves give a sense of the pattern. OIR’s Sept. 22 bulletin approved cuts at renewal for four insurers covering more than 62,000 policies, from 3.2% at Unique Insurance Company to 10.4% at One Alliance North America and Vyrd. The bulletin put the 30-day average requested homeowners change at -4.8%.
That average was -2.3% in July, according to OIR’s market overview, so requests have kept sliding lower since summer.
Does a percentage cut show up as real dollars?
It depends on the starting bill. OIR’s market overview puts the average admitted-market premium at $3,736 a year including wind coverage and $2,124 without it. As an illustration only, a 12.1% cut on $3,736 would be about $452 a year, while a 0.3% cut would be about $11.
That gap is why the insurer name on the policy matters as much as the headline number. Homeowners whose renewal shows a small change, or none, are the ones with the most reason to compare quotes, because the deepest cuts are going to customers of other companies.
Is your Florida renewal among the 824,300?
A renewal that shows a fraction of a percent off, or nothing, after a month of headlines about double-digit cuts is easy to accept without a second look. On a $3,736 average premium, that can leave hundreds of dollars on the table each year while other carriers in the same state are cutting deeper.
“Cut Your House Costs” is an 11-page guide to spending less on a home, and one of its moves is a lower home insurance bill by shopping and asking for every discount. It also includes a home-cost audit worksheet, so a Florida homeowner can set the renewal notice beside the other bills on the house.
Get the guide to a lower home insurance bill by shopping and asking for every discount →
This article was produced with AI assistance and edited for accuracy against the sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
