On Thursday, the Florida Office of Insurance Regulation announced new rate drops approved for insurance companies in the state — effective this month.
In a release, state officials said more than 800,000 Florida homeowners will receive rate decreases in their new policies or renewals, with some drops measuring up to 12.1%.
Florida Insurance Commissioner Mike Yaworksy highlighted the following rate decrease requests this month:
| Company | Policy Type | Decrease | Consumers | Effective Date |
|---|---|---|---|---|
| Cypress P&C | HO3, HO6 | -12.1% | 64,300 | Oct. 1 |
| Manatee Insurance Exchange | HO6 | -3.5% | 3,850 | Oct. 1 |
| Kin Insurance | HO3 | -3.4% | 99,800 | Oct. 8 |
| Castle Key Indemnity | HO6 | -12% | 51,580 | Oct. 11 |
| Castle Key Indemnity | HO6 | -10.3% | 4,700 | Oct. 11 |
| Universal P&C | HO3, HO4, HO6, HO8 | -5% | 512,000 | Oct. 16 |
| Security First | HO6 | -7.3% | 17,300 | Oct. 20 |
| Mangrove Insurance | HO3 | -5.6% | 4,000 | Oct. 27 |
| Olympus Insurance | HO3, HO6 | -0.1% | 66,800 | Oct. 31 |
The OIR also revealed that several rate decrease requests are pending that are slated to take effect in November, December and January, including another 450,000 Floridians who will receive rate decreases.
Commissioner Mike Yaworsky and @GovGoneWild CFO Blaise Ingoglia are highlighting major rate decreases for homeowners!
Effective this month, over 824,300 Florida homeowners will receive rate decreases in their new policies or renewals—including decreases up to -12.1%.
Commissioner Mike Yaworsky said, “I am thrilled to highlight more rate decreases for Florida homeowners, with the most recent large batch all being effective for new customers or renewals this October. The Office of Insurance Regulation is working hard to review all of these requests and in some cases, pushing companies for larger decreases if our actuaries determine the companies are capable of doing so. We are not taking the foot off the gas, and plan to announce more rate decreases in the next two months and going into the new year.”
https://t.co/2B1DxQyKzf
— Florida Office of Insurance Regulation (@FLOIR_comm) October 29, 2026
“I am thrilled to highlight more rate decreases for Florida homeowners, with the most recent large batch all being effective for new customers or renewals this October,” Insurance Commissioner Mike Yaworsky said. “The Office of Insurance Regulation is working hard to review all of these requests and in some cases, pushing companies for larger decreases if our actuaries determine the companies are capable of doing so. We are not taking the foot off the gas, and plan to announce more rate decreases in the next two months and going into the new year.”
State officials said since 2024, 48 companies have filed for a rate decrease, with 53 companies requesting no change or 0% increase.
For more on the state’s insurance market, the OIR invites residents to check out the agency’s website here.