Citizens Property Insurance Corporation will reduce rates for its homeowners multiperil policyholders by an average of 8.8% in 2026 under a slate of rates approved this week by state insurance regulators that cut rates by at least 2% for all Citizens Personal Lines policyholders.

Homeowners wind-only policyholders will see an average 5.5% reduction. The Office of Insurance Regulation (OIR) set the rates and they will take effect on July 1 for new policyholders and will apply to existing policies when they come up for renewal. 

“The Florida property insurance market is again healthy and vibrant,” said Tim Cerio, Citizens’ President/CEO and Executive Director. “Most Floridians now have many options as financially sound private insurers compete for their business. Citizens, as it always has, will be there for those policyholders unable to secure coverage in the private market.” 

Recent reforms to reduce litigation have been instrumental in the recovery of the Florida property insurance market. Citizens’ policy count now stands at 336,000 policies, down 76% from a peak of 1.41 million policies in October 2023.
 
Speaking to Citizens’ Board of Governors on Wednesday, Cerio said it remains critical for stakeholders to continue the efforts over the last few years that have strengthened the market and reduced the risk of Citizens assessments on all Florida insurance consumers following a major storm. 

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