On October 29, 2026, Florida’s Office of Insurance Regulation announced that more than 824,300 homeowners were getting property insurance rate decreases of up to 12.1% at new policies and renewals that month, with another 450,000 decreases pending for November, December and January (OIR, Oct. 29, 2026). It was the second wave of relief this year, after the spring and June 1 renewals that brought Citizens’ first statewide cut in a decade.
“Up to 12.1%” is the number that traveled. It is also the top of the range, and it applies to one company. We took the state’s own carrier table and weighted each filing by the number of policies it covers. That is the number that tells a homeowner what to expect.
The short version: weighted by policies, the October decreases average about 5.5%. About 83% of the 824,330 policies in the state’s table are in filings of 5% or less, and one company, Universal Property & Casualty, accounts for 512,000 of them at about 5%. Only about 121,000 policies, roughly 15%, are in the double-digit filings, and most of those are condo unit-owner policies. On an average Florida premium, a 5.5% cut is worth about $330 a year. Real, but not 12.1%.
Below is every October filing, what it is worth in dollars, why a filed cut can still show up as a higher bill, and what to check before your next renewal.
What the state announced on October 29
The release covered decreases that took effect during October 2026, plus a look ahead. The key figures, all from OIR’s October 29 announcement:
- 824,300 homeowners getting decreases at new policies or renewals in October, of up to 12.1%.
- About 450,000 more Floridians expected to see decreases from requests pending for November, December and January. The release did not name those companies.
- 48 companies have filed for a rate decrease since January 2024, and 53 have asked for no change.
- Two August filings already in effect: American Integrity at about 0.3% for 184,000 consumers and about 12.3% for 8,900, and Florida Family Home Insurance at about 8% for 20,700.
The carrier-by-carrier table was published as an image in the release. WKMG’s ClickOrlando reproduced it in text on October 30 (ClickOrlando, Oct. 30, 2026), and that is the table we used. Its policy counts add to 824,330, thirty more than the state’s rounded headline.
The October filings, carrier by carrier
Each change is the company’s average across the policy forms listed. HO3 is a standard homeowners policy on a house, HO6 is a condo unit-owner policy, HO4 is renters and HO8 is a modified homeowners form usually used for older homes. The last column applies each average to an illustrative premium of $6,060, the average annual premium on $300,000 of dwelling coverage in an OIR figure reported by Spectrum News 13 on July 30, 2026. Your own premium will differ; the insurance savings calculator does the same math on your number.
| Carrier | Forms | Avg change | Policies | Effective | On $6,060 |
|---|---|---|---|---|---|
| Universal P&C | HO3, HO4, HO6, HO8 | −5.0% | 512,000 | Oct. 16 | $303 |
| Kin Insurance | HO3 | −3.4% | 99,800 | Oct. 8 | $206 |
| Olympus Insurance | HO3, HO6 | −0.1% | 66,800 | Oct. 31 | $6 |
| Cypress P&C | HO3, HO6 | −12.1% | 64,300 | Oct. 1 | $733 |
| Castle Key Indemnity | HO6 | −12.0% | 51,580 | Oct. 11 | $727 |
| Security First | HO6 | −7.3% | 17,300 | Oct. 20 | $442 |
| Castle Key Indemnity | HO6 | −10.3% | 4,700 | Oct. 11 | $624 |
| Mangrove Insurance | HO3 | −5.6% | 4,000 | Oct. 27 | $339 |
| Manatee Insurance Exchange | HO6 | −3.5% | 3,850 | Oct. 1 | $212 |
| Policy-weighted average | −5.5% | 824,330 | $332 |
Source: Florida Office of Insurance Regulation, Oct. 29, 2026, carrier table as reported by ClickOrlando, Oct. 30, 2026. Weighted average and dollar column are Momentum arithmetic. All effective dates are in 2026. Castle Key Indemnity is part of the Allstate group.
Why “up to 12.1%” is not the typical cut
Three things pull the typical number well below the headline.
One company is most of the table. Universal’s 512,000 policies are 62% of everything the state listed for October. Its filing is about 5%, so the weighted average cannot move far from 5% no matter what the smaller companies did.
The big percentages are on small books. Cypress at 12.1% and the two Castle Key filings at 12% and 10.3% add up to about 120,600 policies, roughly 15% of the total. At the other end, Olympus’ 0.1% on 66,800 policies is effectively no change, and Kin’s 3.4% covers 99,800 homeowners policies.
A lot of the relief is condo-only. Four of the nine October filings, Castle Key (both), Security First and Manatee, cover only HO6 condo unit-owner policies: about 77,400 policies in all. If you insure a house, those filings do nothing for you even if your carrier’s name is on the list. Security First is a good example: its earlier 2026 statewide filing was about 8%, and its October filing is a separate condo unit-owner cut.
Put together, about 682,000 of the 824,330 policies, 83%, are in filings of 5% or less. A typical owner who sees a cut this fall should expect something in the low single digits, not a double-digit drop.
How a filed cut reaches your bill, and why it sometimes does not
A rate filing changes the price per unit of coverage. It reaches you at the first new policy or renewal on or after its effective date. If your renewal was October 10 and your carrier’s cut took effect October 16, you renewed on the old rates and will see the change a year later, unless you shop or ask.
Even when the timing works, your bill can go up while your rate goes down. The usual reasons:
- Your coverage amount went up. Many policies raise dwelling coverage (Coverage A) each year for construction-cost inflation. A higher Coverage A means a higher premium, and it also raises a percentage hurricane deductible in dollars. The hurricane deductible calculator shows what 2%, 5% or 10% means on your coverage.
- A discount changed. Wind mitigation credits depend on a current inspection report. A lapsed or missing report can cost more than a 5% rate cut saves; the wind mitigation savings calculator estimates what each feature is worth.
- Your roof aged into a new band. Many carriers price, or change settlement terms, by roof age.
- Your filing is not your form. As above, a condo filing does not touch an HO3 policy.
The practical test is to put last year’s declarations page next to this year’s and compare three lines: Coverage A, the hurricane deductible and the total premium. If Coverage A is flat and the premium is not lower after your carrier filed a cut, ask your agent why before you pay.
If you are on Citizens
Citizens’ 2026 cut came earlier in the year. The state ordered an average decrease of 8.7% for owner-occupied homeowners policies, deeper than the 2.6% Citizens had requested, with the largest county cuts in Broward (14.1%), Miami-Dade (14%), Palm Beach (11.9%) and Monroe (11.3%), effective with June 1 renewals (InsuranceNewsNet, Jan. 12, 2026). Citizens has not published its 2027 recommendation yet; last cycle its board voted on December 10. The county view is on our Citizens 2026 rate changes by county page.
The bigger Citizens date is January 1, 2027. From that date, every new and renewing Citizens personal residential policy that includes wind coverage must also carry flood insurance, regardless of dwelling value; inside a special flood hazard area it was already required. Condo unit-owner policies, tenant contents policies and policies that exclude wind are exempt, and flood coverage must at least equal the Citizens dwelling value or the NFIP maximum the home qualifies for (Citizens, flood requirement page, accessed Nov. 11, 2026). For many Citizens owners outside a flood zone, that new flood premium will be larger than any rate cut. Our Citizens flood requirement guide and flood insurance calculator cover the cost.
What could slow the trend
Hurricane Isaias. Isaias made landfall near Destin on the night of October 9, 2026 as a Category 2 hurricane (CBS News, Oct. 10, 2026). By late October the state counted nearly 55,000 claims and about $582 million in insured losses, most of them in Santa Rosa (more than 26,000 claims), Escambia (nearly 17,000) and Okaloosa (about 5,200) counties (News Service of Florida via Florida Trend, Oct. 26, 2026). Verisk put industry-wide insured losses at $1 billion to $2 billion in mid-October. Those are modest numbers by Florida hurricane standards, but they land on the same carriers and reinsurers that priced this year’s cuts. No rate filing tied to Isaias was public when we checked.
The Cat Fund surcharge, in the other direction. Governor-elect Byron Donalds has said he will push to end the Florida Hurricane Catastrophe Fund’s rapid cash build-up factor, a 25% charge on top of what insurers pay for Cat Fund reinsurance that was added after Hurricane Wilma in 2005 and made permanent in 2008 (Insurance Journal, Nov. 4, updated Nov. 5, 2026). That is a proposal. There is no bill text yet, and how much of any change would reach a homeowner’s premium is unknown.
The 450,000 pending decreases. The state says they are scheduled for November through January. Until the companies are named, treat them as possible, not promised, for any one policy.
What this means if you own, buy or sell
If you own: find your carrier and form in the table above and check the effective date against your renewal date. If you renewed after the effective date and your premium did not fall with Coverage A unchanged, ask why. If your carrier is not on the list, get two or three quotes that match your current coverage line by line; the market has more companies writing than it did two years ago. A current wind mitigation inspection is often the single largest discount available.
If you are buying: get a real insurance quote on the specific house during your inspection period, not after. A four-point and wind mitigation inspection on an older home can matter as much to the quote as any rate filing. Then put the premium, property tax and HOA or CDD into one monthly number with the true cost of ownership calculator or our buyer closing costs calculator, which also estimates the first year’s prepaid premium.
If you are selling: a buyer’s insurance quote is part of your sale. Having a current wind mitigation report, the roof age and any permits ready lets a buyer’s agent get a quote in a day instead of a week. County-level premium context for pricing conversations is on our Florida home insurance by county page, and Northeast Florida detail is in Jacksonville insurance costs by area.
How we built these numbers
We used the October 2026 approved-decrease table from the Office of Insurance Regulation’s October 29, 2026 release, as reproduced in text by ClickOrlando on October 30, 2026: nine filings, 824,330 policies. The policy-weighted average is the sum of each filing’s average change times its policy count, divided by 824,330 (−5.48%). The share at 5% or less counts Universal, Kin, Olympus and Manatee (682,450 policies).
The $6,060 illustrative premium is the OIR average annual premium on $300,000 of dwelling coverage reported by Spectrum News 13 on July 30, 2026. Each filing is a company average across its book; an individual policy can move more or less, and a premium also depends on coverage, deductibles, discounts and the property. August filings (American Integrity, Florida Family) are listed in the text but not in the weighted average.
Momentum Realty is a real estate brokerage, not an insurance agency, and this is not insurance advice. Data compiled November 11, 2026.
Frequently asked questions
Are Florida home insurance rates going down in November 2026?
For many policies, yes. The Office of Insurance Regulation said on October 29, 2026 that more than 824,300 homeowners got decreases of up to 12.1% in October and that about 450,000 more decreases were pending for November through January. A decrease reaches you at the first renewal on or after the filing’s effective date.
Which Florida insurers cut homeowners rates in October 2026?
Universal Property & Casualty (about 5% on 512,000 policies), Kin (3.4%), Olympus (0.1%), Cypress (12.1%), Castle Key Indemnity condo unit policies (12% and 10.3%), Security First condo unit policies (7.3%), Mangrove (5.6%) and Manatee Insurance Exchange condo unit policies (3.5%), per the OIR table published October 29, 2026.
What is the average Florida insurance rate cut this fall?
Weighted by the number of policies in each October 2026 filing, the average decrease is about 5.5%. About 83% of the 824,330 policies in the state’s table are in filings of 5% or less. On a $6,060 annual premium, 5.5% is about $332 a year.
Why did my Florida insurance go up if my company cut rates?
A filed decrease lowers the rate, not necessarily the bill. Your premium can still rise if your dwelling coverage was increased for inflation, a wind mitigation or other discount lapsed, your roof aged into a new rating band, or the filing covered a different policy form, such as a condo unit-owner filing when you insure a house.
Does the Citizens flood insurance requirement apply to me in 2027?
From January 1, 2027, new and renewing Citizens personal residential policies that include wind coverage must carry flood insurance regardless of dwelling value. Condo unit-owner policies, tenant contents policies and policies that exclude wind are exempt, according to Citizens.
Will Hurricane Isaias raise Florida insurance rates?
No rate filing tied to Isaias was public as of November 11, 2026. The state counted nearly 55,000 claims and about $582 million in insured losses by late October, mostly in Santa Rosa, Escambia and Okaloosa counties. Future filings will show whether carriers price it in.
Sources
- Florida Office of Insurance Regulation, rate decreases effective this month, Oct. 29, 2026.
- WKMG ClickOrlando, carrier table, Oct. 30, 2026.
- InsuranceNewsNet, Citizens ordered to deeper cuts, Jan. 12, 2026.
- Citizens Property Insurance, flood requirement page, accessed Nov. 11, 2026; Citizens rate recommendation release, Dec. 10, 2025.
- CBS News, Hurricane Isaias landfall, Oct. 10, 2026; News Service of Florida via Florida Trend, Oct. 26, 2026; Verisk, Oct. 2026.
- Insurance Journal, Nov. 4, updated Nov. 5, 2026.
- Spectrum News 13 (OIR average premium), July 30, 2026.