More than 824,300 property owners are receiving Florida homeowners insurance rate decreases on new policies or renewals taking effect in October, with reductions of up to 12.1%. Insurance Commissioner Mike Yaworsky and Chief Financial Officer Blaise Ingoglia announced the news in an official release from the Florida Department of Financial Services dated October 29, 2026.
The reduction does not reach everyone the same way and it will not show up on your account overnight. It depends on the company that insures you and on the policy form you carry. If you have a mortgage and pay through escrow, you will see any change when you renew your home and property insurance.
What Florida regulators announced on October 29
The October decrease varies by company and reaches up to 12.1%. Since January 2024, 48 companies have filed to lower rates and 53 have filed for no change or a 0% increase. More decrease filings are pending review; they would take effect in November, December and January and reach another 450,000 Floridians.
A rate is not the same thing as your premium. The rate is the base price a company files with the Florida Office of Insurance Regulation for review and approval. Your final premium comes from applying that rate to your specific home. ZIP code, year built, construction materials, the roof, the deductibles you chose and any documented wind mitigation credits all carry weight.
That is why two neighbors on the same block, insured with the same company, can see different numbers at renewal.
Who gets the Florida homeowners insurance rate decreases, and when?
The decrease reaches homeowners insured with the companies that filed for and received a rate reduction. It applies when you buy a new policy or when you renew the one you already have. It is not a refund, it is not retroactive, and it does not reach every household in Florida.
If your renewal falls in March, you will see the change in March. No amount can be promised in advance either. Nobody should tell you how much you will save until you have the renewal notice in front of you with the number printed on it. That document arrives by mail or email before your policy expires. It carries the new premium, the deductibles and any coverage change the company introduced.
Read it all the way through. Sometimes the premium drops and, in the same notice, something shifts in the roof coverage or the hurricane deductible goes up. Those are two different things, and both count.
Why your premium may not move at all
If your company did not file for a decrease, your base rate stays where it is. The release makes clear that a share of companies filed to keep rates unchanged or to apply a 0% increase. Holding the rate avoids an increase, but it does not turn into a smaller number on your bill.
There is another factor: the policy form you carry. Not every residential form covers the same things, and each October decrease applies to specific policy forms, which vary from one company to the next. The Florida Office of Insurance Regulation describes the most common residential forms this way:
| Form | Type of coverage | Who it is for | Source |
|---|---|---|---|
| HO-1 / HO-2 | Named peril coverage; HO-1 is the most basic form | Homeowner | FLOIR |
| HO-3 (Special Form) | Open risk: covers every peril unless expressly excluded. Includes the structure, attached structures, personal property and liability | Owner occupant | FLOIR |
| HO-4 (Tenant) | Renters insurance: belongings inside the home and permanent improvements installed by the tenant | Tenant | FLOIR |
According to FLOIR, the HO-3 policy is the form today’s leading home insurers commonly offer. Knowing which form you have is the first step to comparing for real, because comparing the price of an HO-3 against a named peril form is not comparing.
What to check on your renewal notice
On the notice, look at the age and coverage of the roof, the hurricane deductible and whether you carry flood coverage. Also check whether the insured amount still covers the cost to rebuild.
The roof
The roof is the most sensitive point in any Florida home policy. The Insurance Consumer Advocate at the Department of Financial Services publishes the recent changes in property insurance. According to that information, an insurer cannot deny issuing or renewing a homeowner policy on a roof less than 15 years old based on age alone. If the roof is 15 years or older, the company must allow an inspection by an authorized inspector before requiring replacement. HB 1611, in effect since July 1, 2024, added roofing contractors to the list of authorized inspectors an insurer may approve to determine a roof’s remaining useful life.
If the inspection shows the roof has five years or more of useful life, the company cannot refuse to issue or renew the policy based on roof age alone. The homeowner pays for the inspection.
The same DFS page lists another change: Fannie Mae and Freddie Mac allow the roof to be insured at actual cash value (ACV), as long as the rest of the home stays at replacement cost (RCV). With ACV, a roof claim pays the replacement cost minus depreciation. The premium may drop, and so may the check after roof damage.
The hurricane deductible
The hurricane deductible works differently from your general deductible. The DFS page on the hurricane deductible in Florida explains it under state law (s. 627.4025 and s. 627.701, F.S.). It applies from the time the National Hurricane Center issues a hurricane warning for any part of Florida until 72 hours after the last hurricane watch or warning ends.
It counts per calendar year: it applies to all covered hurricane losses that year under policies from the same insurer or insurer group. For homes with limits between $1 million and $3 million, the insurer may offer 3%, 5% and 10% options.
If your home is insured for less than $500,000, raising the hurricane deductible above 10% to lower the premium comes with conditions. The law requires a written statement signed by you and, if there is a mortgage, written approval from the lender.
Flood
FLOIR states on its homeowners insurance page that carriers usually exclude flood and earthquake from the HO-3 policy and offer them separately. The rate decrease does not change that exclusion. FLOIR encourages homeowners to talk with an agent about separate flood coverage.
How to compare before you renew
Compare when the renewal notice arrives, not after you pay it. Pull your current declarations page, the new notice and, if you have one, the wind mitigation inspection report. With those three documents, any licensed agent can tell you in one conversation whether your price sits where it should.
- Identify your policy form and your current company.
- Write down the general deductible and the hurricane deductible, in dollars, not percentages.
- Verify whether the roof is insured at replacement cost or at actual cash value.
- Confirm whether you have flood coverage and under which program.
- Compare the same package of coverages across several companies, not only the final price.
Licensed agents at Univista Insurance compare more than 20 companies in a free quote. By phone, online, or sitting with you at one of our more than 300 offices, in English or Spanish, with the renewal notice on the table. If your current policy comes out ahead, we tell you and you keep it.
Frequently asked questions
You will find more answers in our homeowners insurance FAQs.
Are Florida homeowners insurance rate decreases in effect right now?
Yes. The Department of Financial Services and the Office of Insurance Regulation reported it on October 29, 2026. More than 824,300 homeowners are receiving decreases of up to 12.1% on new policies or renewals effective in October. More filings are under review for November, December and January.
Does an HO-3 home policy cover flood?
Not as standard. FLOIR states that carriers usually exclude flood and earthquake from the HO-3 policy and offer them separately, and it encourages homeowners to talk with an agent about separate flood coverage.
Can a company deny my policy because of the roof age?
Not on age alone if the roof is less than 15 years old, according to the Insurance Consumer Advocate at DFS. At 15 years or older, the insurer must allow an inspection by an authorized inspector before requiring replacement. HB 1611 from 2024 added roofing contractors to that list of inspectors.
Your renewal is the moment all of this gets decided. Review your policy with a licensed agent before you renew and get a free quote.
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