Florida’s Office of Insurance Regulation reports that home insurance premiums have decreased in 51 counties so far in 2026 as the state’s hurricane season continues.

State lawmakers say insurance reform legislation passed in 2022 is now correcting the market. They point to three factors: fewer lawsuits filed by homeowners, a shrinking number of policies held by the state-run Citizens Property Insurance Corporation, and increased competition among insurance companies.

Insurance comparison platform Insurify puts the average annual cost of home insurance in Florida at $6,060 for a home with $300,000 in dwelling coverage. State Rep. David Smith, a Republican representing Seminole County, said multiple insurers are cutting rates and new companies are entering the Florida market to write policies.

According to the Florida Office of Insurance Regulation, 44 insurance companies have requested rate decreases since 2024, and 48 companies have requested zero percent increases.

New state laws eliminated one-way attorney fees, which regulators say had previously given homeowners incentive to file lawsuits that drove up insurers’ legal costs. Mark Friedlander of the nonprofit Insurance Information Institute said the reduction in litigation has lowered expenses for insurers, savings he says are passed on to consumers.

State regulators say Florida accounted for 79% of all homeowners’ insurance lawsuits filed nationwide in 2020; by 2025, that figure had fallen to 41%.

Friedlander also pointed to falling reinsurance costs, the coverage insurers purchase to cover their own losses, which Smith says makes up 43% of a homeowner’s premium. Friedlander said global reinsurers are now offering more favorable rates due to increased confidence in the Florida market.

Smith said continued progress depends partly on the state avoiding a severe hurricane season, adding that rates could drop significantly if Florida makes it through without major storm damage.

Friedlander noted that home insurance costs still vary based on a property’s proximity to the coast, its age and how it was built. He said homeowners can lower their premiums by hardening their homes against wind damage, including installing hurricane straps and roof tie-downs, wind-rated garage doors and wind-rated windows.

State Rep. Anna Eskamani, a Democrat representing Orlando’s District 42, offered a different view in a statement to Spectrum News. She said many Floridians have seen premiums double or triple over the past eight years and that the state still has the highest insurance rates in the country. While acknowledging some residents are seeing rate decreases, she said more needs to be done to lower costs without weakening homeowners’ ability to dispute unfair claim denials or delays, and criticized recent legislation she said would raise rates for condo owners.

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