Florida homeowners are set to receive some relief on their insurance bills after the Florida Insurance Guaranty Association announced it is ending a 1% emergency surcharge two years ahead of schedule.

The surcharge had been in place for three years, originally put in effect after 10 insurance companies went out of business. Eliminating it early is expected to save policyholders a combined $650 million over the next two years, or roughly $31 per year for the average homeowner.

Officials attributed the early end to a quiet 2025 hurricane season, no new insurance insolvencies, and legislative reforms that reduced lawsuits.

Mark Friedlander of the Insurance Information Institute said Florida’s property insurance market is currently in its strongest financial position in a decade. The assessment is set to officially end October 1.

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