Approved with changesFinal order Florida
Florida approves 8.8% homeowners rate decrease for Citizens
Citizens Property Insurance Corporation, Florida's state-created insurer, filed on Dec. 12, 2025 for an average 5.5% decrease in its homeowners multi-peril rates. The Florida Office of Insurance Regulation (OIR) set a deeper 8.8% average decrease in a final order dated March 2, 2026. Citizens says the new rates apply to new policies from July 1, 2026 and to existing policies at renewal.
By C. Zakarian, editor. Published
Set 3.3 points below the request, a deeper decrease. Overall average decreases; individual premiums vary.
Who it affects
The order covers Citizens' homeowners multi-peril policies statewide. It limits how much any single policy's rate can change:
- HO-3 and HO-6 policies on primary residences: from a 15% decrease to a 2% decrease, so every such policy gets a decrease of at least 2%.
- HO-3 and HO-6 policies on non-primary residences: from a 15% decrease to no change.
- HO-4 (renters) policies: from a 15% decrease to a 15% increase for primary residences, and up to a 50% increase for non-primary residences.
Citizens' approved county-by-county table for the HO-3 form lists 337,025 policies, 336,968 of them with a decrease, and an average premium falling from $3,506 to $3,202. The 8.8% figure is an overall average for the whole program; individual policyholders' changes vary.
The order sets the rates effective on or after June 1, 2026. In its March 4, 2026 announcement, Citizens said the rates take effect July 1 for new policyholders and apply to existing policies when they renew.
Reasons cited in the filing and order
- Citizens based its hurricane loss estimates on four catastrophe models: the Florida Public Model and models from Verisk, Moody's Corporation, and CoreLogic/Cotality.
- 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 for a one-in-100-year probable maximum loss, as state law requires.
- OIR found the HO-3 and HO-6 rates actuarially sound, so the rate-change limits in section 627.351(6)(n)5 and 8 of the Florida Statutes no longer apply to those forms.
How this compares
Citizens' previous homeowners multi-peril filing, FCP 24-030310, asked for a 13.5% average increase and OIR set 6.6%, effective on or after June 1, 2025. This filing's approved change is 15.4 percentage points lower than that one's.
In both filings OIR set Citizens' rates below what the company proposed: by 6.9 points in the 2024 filing and by 3.3 points in this one.
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 had the largest approved decrease.
| Filing | Submitted | Requested | Approved | Effective, per the order |
|---|---|---|---|---|
| FCP 25-056573 (this filing) | Dec. 12, 2025 | −5.5% | −8.8% | On or after June 1, 2026 |
| FCP 24-030310 | June 27, 2024 | +13.5% | +6.6% | On or after June 1, 2025 |
What happens next
OIR's final order establishes these rates; Citizens was required to submit final manual pages within 30 days of the order. Unlike private insurers, which file under Florida's file-and-use or use-and-file procedures, Citizens' rates are set by OIR order after Citizens files recommended rates. OIR held a public rate hearing on Citizens' previous filing on Aug. 1, 2024. More on Florida's process is on our states page.
Timeline
- Citizens files FCP 25-056573, proposing an average 5.5% decrease effective June 1, 2026.
- OIR's final order sets an average 8.8% decrease for the multi-peril program.
- Citizens announces the rates take effect July 1 for new policies and at renewal for existing ones.
Source documents
- OIR Final Order, Citizens Property Insurance Corporation, Index OIR 2026-14, Case No. 402559-26-FO
- Citizens Property Insurance Corporation, Revised 2026 Rate Kit (March 4, 2026)