TALLAHASSEE, FLA. (WSVN) - Florida Insurance Commissioner Mike Yaworsky has approved rate decreases for four homeowners insurance companies, bringing lower rates to policyholders statewide, including residents in Miami-Dade and Broward counties.
The approved rate reductions apply to four coverage providers, impacting tens of thousands of policyholders across Florida. One Alliance North America received a -10.4% rate decrease impacting 17,148 policies, while Vyrd Insurance Company received a -10.4% decrease impacting 26,751 policies. Additionally, Safe Harbor Insurance Company received a -4.1% rate decrease impacting 10,501 policies, and Unique Insurance Company received a -3.2% decrease impacting 8,266 policies.
Yaworsky said the decision reflects a growing trend of policy relief for state residents. “This is the latest wave of significant rate decreases for Floridians, which continues to grow higher. I expect to see more aggressive rate cuts in the near future and going into 2027. OIR is receiving a flood of rate decrease requests ranging from -0.3 to -19.7. This is great news for Floridians and OIR (Florida Office of Insurance Regulation) will expedite reviews of rate filings to ensure policyholders feel it in their pockets,” Yaworsky said.
According to a report by S&P Global, Florida recorded a -0.92% insurance rate change in 2025, making it the only state in the nation with an overall rate decrease. In contrast, the national calculated weighted average insurance increase in 2025 was 5.5%.
Private coverage providers are also cutting rates in South Florida. Kin Insurance announced homeowners insurance rates will decrease by an average of more than 20% for policyholders in Broward, Miami-Dade and Palm Beach counties. Overall, 48 companies have filed for rate decreases in Florida since January 2024, officials said.
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