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Florida reveals new insurance rate drops
effective this month |
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Article Courtesy of Channel 6 News WKMG
By Anthony Talcott
Published November 1, 2026
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TALLAHASSEE – 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.
“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.
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