FiledRates

Approved with changesFinal order Florida

Florida approves 6.6% homeowners rate increase for Citizens

Citizens Property Insurance Corporation filed on June 27, 2024 for an average 13.5% increase in its Florida homeowners multi-peril rates, to take effect Jan. 1, 2025. After a public hearing, the Florida Office of Insurance Regulation (OIR) set a smaller 6.6% average increase, effective on or after June 1, 2025, in a final order signed Feb. 6, 2025.

By C. Zakarian, editor. Published

Requested+13.5%
Approved+6.6%

Set 6.9 points below the request. Overall average increases; individual premiums vary.

Who it affects

The order covers Citizens' homeowners multi-peril policies statewide in its Personal Lines and Coastal accounts. For primary residences, no single policy's rate change could fall below a 10% decrease or exceed a 14% increase. The 6.6% is an overall average for the program; individual changes vary by policy. The order does not state how many policies the change affects.

Reasons cited in the filing and order

  • Citizens based its hurricane loss estimates on the median of four catastrophe models: the Florida Public Model and models from AIR Worldwide, RMS, and CoreLogic.
  • Citizens adjusted its indications for the 2023 legislative reforms that ended assignment of benefits and one-way attorney fees.
  • The rates include the cost of reinsurance up to a one-in-100-year probable maximum loss.

How this compares

This is the earliest Citizens filing FiledRates tracks. Citizens' next homeowners multi-peril filing, FCP 25-056573, went the other way: it asked for a 5.5% average decrease, and OIR set 8.8%, effective on or after June 1, 2026.

OIR set this filing's rate 6.9 percentage points below Citizens' request, a wider reduction than the 3.3 points in the following filing.

As of Oct. 6, 2026, FiledRates tracks two Florida filings, both from Citizens, so a Florida average across insurers is not yet meaningful. Among the five filings FiledRates had published across three states on that date, this filing's approved change ranked third, behind State Farm General in California (+17.0%) and the Texas FAIR Plan's 2025 filing (+10.8%).

Citizens homeowners multi-peril filings tracked by FiledRates (2 filings)
FilingSubmittedRequestedApprovedEffective, per the order
FCP 25-056573Dec. 12, 2025−5.5%−8.8%On or after June 1, 2026
FCP 24-030310 (this filing)June 27, 2024+13.5%+6.6%On or after June 1, 2025

What happens next

This filing has been decided; the rates took effect on or after June 1, 2025. Citizens' rates are set by an OIR final order after Citizens files recommended rates, rather than through the file-and-use procedure private Florida insurers use. Citizens' following filing is covered in our report on its 2025 filing. More on Florida's process is on our states page.

Timeline

  1. Citizens files FCP 24-030310, proposing an average 13.5% increase effective Jan. 1, 2025.
  2. OIR holds a public rate hearing on Citizens' proposed rates. Written comments were accepted through Aug. 15, 2024.
  3. OIR's final order sets an average 6.6% increase for the multi-peril program, effective on or after June 1, 2025.

Source documents

  1. OIR Final Order, Citizens Property Insurance Corporation, Index OIR 2025-15, Case No. 400703-24Florida Office of Insurance Regulation. Public comment and model inputs (page 5); filing date and request (page 7); approved change, caps, effective date (page 8); order date (page 16). Accessed Oct. 6, 2026.
  2. Citizens Property Insurance Corporation public rate hearingFlorida Office of Insurance Regulation. Date of the 2024 hearing. Accessed Oct. 6, 2026.

Related filings

Written by C. Zakarian, editor. Published .

Every figure on this page comes from the source documents listed above. Read how we report filings in our methodology and editorial policy, or report an error.