Citizens Property Insurance Corporation's Board of Governors on Wednesday approved 2026 rate recommendations that reduce average rates for Citizens' personal lines policyholders for the first time since 2015, as recent reforms have succeeded in returning the Florida property insurance market to health. 

The recommendations call for a statewide average rate decrease of 2.6% for personal lines policies with three out of five Citizens policyholders receiving an average premium reduction of 11.5%, or $359.

"Critical reforms championed by Gov. DeSantis and approved by the Florida Legislature have done what they were supposed to do: provide rate relief to policyholders and stability to the Florida market," said Tim Cerio, Citizens President/CEO and Executive Director. "These 2026 rate proposals are further confirmation that Florida’s insurance market is thriving."

In October 2023, Citizens’ policy count peaked at 1.42 million policies. By the end of 2025, Citizens' policy count is expected to fall to 385,000 – a decrease of 73% from the October peak and the lowest level ever for Citizens, which was established in 2002 to provide property insurance to those who could not find coverage in the private market. 

Since reforms were enacted to reduce frivolous litigation and bolster regulatory oversight, 17 new insurance companies have entered the Florida market. Citizens is no longer the largest property insurer in the state. 

The Citizens Depopulation Program in 2025 successfully transferred more than 546,000 Citizens policies to private insurance companies approved to participate in the program by the Florida Office of Insurance Regulation (OIR). 

"Thanks to the Governor’s leadership and the Legislature’s actions, I can say unequivocally that Citizens has returned to its proper role as Florida’s insurer of last resort," Cerio said. "It’s important now for us to stay the course and resist any effort to roll back the critical reforms responsible for this success." 

The rate recommendations approved Wednesday will be filed with the OIR. Following a public hearing, the regulator will review the rate proposals, determine whether amendments are needed, and issue orders setting Citizens’ 2026 rates – which would take effect on June 1, 2026.

Citizens has prepared a 2026 rate kit, which provides members of the media with information about its 2026 rate filing, including county-by-county estimates for specific policy types.