South Florida homeowners insured by Citizens Property Insurance Corp. are seeing some of the deepest rate cuts in the state this year, with average premium reductions of about 14% rolling out to policyholders in Miami-Dade and Broward counties, according to reporting by WFLX.
Roughly 42,000 Miami-Dade homes are receiving an average reduction of 14.0%, while about 27,000 Broward homes are seeing an average cut of 14.1%, according to Live Insurance News. The reductions take effect as policies renew, beginning June 1, when rates approved by the Florida Office of Insurance Regulation took effect.
Statewide, the vast majority of Citizens policyholders are getting lower premiums, with an average reduction of 8.7%. More than 330,000 policyholders across all 67 Florida counties are seeing decreases, and over 150,000 are receiving cuts of 10% or more, according to the approved filings.
Relief After Years of Increases
The cuts mark a reversal for the state-run insurer of last resort, which spent years pushing rate increases as private carriers fled the Florida market. Citizens sought a rate decrease for the first time in its December filing, a shift attributed to the stabilization of Florida’s insurance market following the state’s insurance and tort reforms, according to Insurance Journal.
The steeper reductions in Miami-Dade and Broward reflect where litigation-driven costs had hit hardest, according to industry analyses of the 2026 rate changes.
Even with the relief, South Florida remains among the most expensive places in America to insure a home. Average annual premiums run about $6,045 in Miami-Dade, $6,290 in Broward and $6,614 in Palm Beach County, according to county-level data compiled by Worth Insurance. Florida overall remains the nation’s most expensive homeowners insurance market, with typical policies ranging from roughly $5,500 to $11,000 a year depending on location and coastal exposure, according to GreatFlorida Insurance.
For household budgets across the tri-county region, the cuts arrive as welcome relief stacked against still-elevated housing costs. Insurance premiums are a major component of monthly payments for both homeowners and condo associations, and the trajectory of rates will factor into affordability calculations as the region heads into the peak months of hurricane season — the annual test of whether the market’s newfound stability holds.
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