WEST PALM BEACH — Florida homeowners have struggled the past few years with rising insurance costs, but we have some good news to share.

For the second year in a row, Security First Insurance, based in Ormond Beach, is looking to lower its rates. Company expects 50,000 of its 140,000 policyholders should feel the impact "Security First just filed for an additional 8% decrease on our biggest homeowner's product," said Melissa Burt DeVriese, the company's president. "While many Floridians continue to face rising insurance costs, Security First is moving in the opposite direction." The rollback follows a 5.2% decrease in 2024 for the company. It comes at a time when many policyholders are still struggling with insurance costs across the state.

The reduction follows a trend among some insurance companies after state reforms on curbing litigation.

"Really, what you're seeing is the result of all the cost-cutting moves insurance companies have made to keep our costs low and all the moves we've done to address fraudulent claims. That's really what's driving these reductions," DeVriese said.

The company expects 50,000 of its 140,000 policyholders in Florida should feel the impact of the rate reduction.

"We are writing more policies in South Florida," DeVriese said

However, in South Florida, where risks and costs run higher, the impact may be mixed.

"One of the important things to note is that while we're reducing the rates for our policies for a lot of consumers, their actual premium will be going up because the cost of their home and the cost of the replacement of their home has gone up," DeVriese said.

Security First is not alone in reducing rates — several other insurers have also cut rates, giving policyholders more reason to shop around for the best deal.

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