Gov. DeSantis Discusses Florida Property Insurance Reforms and Market Improvements

Florida Property Insurance Reforms

• 🎯 Governor Ron DeSantis announced that legislative reforms enacted in December 2022 are proving effective in addressing Florida's property insurance crisis.
• 📈 He stated that property insurance rates are decreasing, and private insurance companies are re-entering the Florida market, providing more options for homeowners.

Market Recovery and Rate Changes

• 💡 Seventeen new insurance companies have entered the Florida market since the reforms.
• 📉 As of January 2026, there have been 83 filings for rate decreases and 100 filings for no rate increase.
• 📊 One of the largest insurers, Peninsula, has filed for an 8% rate decrease, with homeowners seeing these changes at renewal.

Citizens Property Insurance and Homeowner Costs

• ⚠️ Citizens Property Insurance, the state's insurer of last resort, has reduced its policies to approximately 400,000 homeowners.
• 💰 While homeowners may face up to a 20% increase when moving to the private market, the governor views this overall situation as positive for the state, limiting risk and minimizing liability.