More than 824,300 Florida homeowners are getting lower rates on new policies or renewals after a batch of rate-decrease requests from major insurers took effect in October, state regulators announced.

According to the Florida Office of Insurance Regulation (OIR), 48 companies have filed for rate decreases since January 2024, and another 53 have requested no change. The figures show that decreases are spreading across the market, though many carriers are holding rates steady rather than cutting them.

More relief is expected. OIR has additional requests pending that take effect in November, December, and January, which would give another 450,000 Floridians lower rates. The office also pointed to substantial decrease filings from American Integrity Insurance Company and Florida Family Home Insurance Company. Both were filed in August and are already in effect.

Commissioner Mike Yaworsky said his office is reviewing every request and, in some cases, pressing insurers for deeper cuts when state actuaries conclude a company can afford them. “We are not taking the foot off the gas,” he said, adding that more announcements are planned over the next two months and into the new year.

Chief Financial Officer Blaise Ingoglia credited the state’s tort reforms for the shift. He described the decreases as evidence that Florida’s insurance market has improved since those changes became law, and he said he will keep working with OIR and carriers to bring rates down further.

Officials did not say in this announcement how large the individual decreases are or how much a typical homeowner will save. Each policyholder’s actual rate depends on the insurer, the property, and the coverage.

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