How do I know if I am overpaying for Florida home insurance?

Compare your last renewal to the market. If approved rates in your county fell by high single digits to low double digits this year and your renewal stayed flat or went up, you are likely overpaying. Seventeen new carriers have entered Florida, so there are more options to compare than there were a year ago. Enter your current premium and county in the calculator above to see an illustrative reshop opportunity range.

How much can I actually save by reshopping my policy?

It depends on your property and how stale your current rate is. As an illustration, the calculator applies the range of approved 2026 market cuts (from the Citizens statewide average of about 8.7 percent up to a conservative ceiling of about 15 percent) to your own current premium. On a $4,000 premium that is roughly $350 to $600 a year. This is an estimate of the opportunity in a softening market, not a quote. Your actual savings come from a real comparison quote.

When do the 2026 Florida insurance rate cuts take effect?

At policy renewal. Most of the approved decreases apply to renewals occurring in spring 2026, with many beginning June 1, 2026. You will see the change when your renewal notice arrives, not before. If your renewal already passed and did not drop, that is the signal to reshop.

Florida Home Insurance Savings Calculator: Are You Overpaying in 2026?

The Florida insurance market turned. Most people have not noticed.

For four years the only Florida insurance story was pain: nonrenewals, premium spikes, and carriers leaving the state. That story has inverted. After the 2022 and 2023 tort reforms cut litigation costs, actual losses came in below projections, reinsurance costs fell, and capital came back. Citizens, the state-backed insurer, filed its first statewide decrease in years, about 8.7 percent on average and deeper in South Florida. State Farm filed roughly a 10.1 percent cut, its third since 2024, for a cumulative reduction near 20 percent. USAA, GEICO, Allstate, and Progressive filed decreases in the 7 to 10 percent range. Seventeen new carriers have entered the state and are competing for policies.

Here is the catch. Rate cuts do not reach you automatically. They apply at renewal, and they are average changes, so your specific property may move more or less than the headline number. If your renewal already passed and your premium stayed flat or went up while the market fell, you are very likely overpaying. The right move in a softening market is not to hope, it is to reshop.

What this tool does.

It does not pretend to know your premium. You tell it what you pay now, and it compares that against the approved 2026 rate moves for your county and your carrier, then shows an illustrative range of what reshopping could be worth. The range runs from the Citizens statewide average cut of about 8.7 percent up to a conservative ceiling near 15 percent, applied to your own premium. That band reflects how far leading carriers have cut, not a quote for your house. Your real number comes from a comparison quote that matches your current coverage.

It deliberately does not invent a county average premium. There is no single current, authoritative per-county premium figure we could stand behind, and a wrong number is worse than no number. So the tool works from the one premium it can trust: yours.

How to actually capture the savings.

Get at least three quotes, or ask an independent agent to shop the whole market in one pass. Make every quote match your current coverage. The three places carriers quietly trade price for risk are the hurricane deductible (a percentage of dwelling coverage, not a flat dollar), the roof settlement (replacement cost versus actual cash value), and the dwelling limit (Coverage A). A cheaper policy with a 5 percent hurricane deductible and an actual cash value roof is not actually cheaper if a storm hits. Compare the protection, not just the premium.

Not sure what a percentage deductible costs you? Pair this with the mortgage payment calculator and your county property tax page to see your full monthly carrying cost.

If you are on Citizens.

Citizens is the insurer of last resort, not a forever home. With 17 new private carriers writing again, many Citizens policyholders now get takeout offers that cost less. Florida law generally requires you to accept a private offer that comes within 20 percent of your Citizens premium, so you may not even have a choice to stay. Review the private carrier's financial strength rating and coverage terms, then compare. Leaving Citizens is usually a sign the private market has room for your home again.

Why this matters for buyers and owners.

Insurance is one of the two big variable costs of owning in Florida, alongside property tax. Both are moving in 2026: insurance is already falling, and the November property tax amendment could cut the other side for homesteaders. For a buyer pricing a home, an outdated premium quote can make a house look more expensive than it really is now. For an owner, a stale renewal is money left on the table every month. Either way, the fix is the same: use a current number and shop the softened market.

Common questions.

Are Florida home insurance rates really going down in 2026?

Yes, for the first time in years. Citizens is cutting an average of about 8.7 percent statewide, with deeper cuts of roughly 12 to 14 percent in South Florida counties. State Farm filed about a 10.1 percent decrease, its third cut since 2024, bringing its cumulative reduction to roughly 20 percent. USAA, GEICO, Allstate, and Progressive filed cuts in the 7 to 10 percent range. The cuts take effect at spring and June 1, 2026 renewals.

How do I know if I am overpaying?

Compare your last renewal to the market. If approved rates in your county fell by high single digits to low double digits this year and your renewal stayed flat or went up, you are likely overpaying. With 17 new carriers in the state, there are more options to compare than there were a year ago. Enter your current premium and county above to see an illustrative reshop range.

Should I switch home insurance companies in Florida?

It is worth shopping. The market has softened, litigation costs dropped after the 2022 and 2023 reforms, and new carriers are competing. Get at least three quotes or ask an independent agent to shop for you. Make sure any new quote matches your current coverage, especially dwelling coverage, hurricane deductible, and roof settlement terms, so you compare the same protection, not just a lower price.

Is it safe to leave Citizens for a private carrier?

Often yes. Citizens is the insurer of last resort, and Florida law generally requires you to take a private offer within 20 percent of your Citizens premium. Many homeowners now receive takeout offers that cost less than Citizens. Review the private carrier's financial strength rating and coverage terms before switching, but leaving Citizens is common and usually a sign the private market has room for you again.

How much can I actually save by reshopping?

It depends on your property and how stale your current rate is. As an illustration, the calculator applies the range of approved 2026 market cuts (from the Citizens statewide average of about 8.7 percent up to a conservative ceiling near 15 percent) to your own premium. On a $4,000 premium that is roughly $350 to $600 a year. This is an estimate of the opportunity in a softening market, not a quote.

Does a lower rate mean less coverage?

Not necessarily, but check. A lower premium can come from a genuinely better rate, or from weaker coverage such as a higher hurricane deductible, an actual cash value roof settlement instead of replacement cost, or lower dwelling limits. Always compare the full policy. Much of the 2026 relief is real rate reduction driven by lower litigation and reinsurance costs, not thinner coverage.

When do the 2026 rate cuts take effect?

At policy renewal. Most approved decreases apply to renewals in spring 2026, with many beginning June 1, 2026. You see the change when your renewal notice arrives, not before. If your renewal already passed and did not drop, that is the signal to reshop.

Florida insurance and tax tools.

The two biggest variable costs of Florida ownership are insurance and property tax. These tools cover both. Estimate your property tax, see your county property tax page, read the local breakdown of Jacksonville insurance costs by area, or check whether you need flood insurance.

Property Tax Estimator Mortgage Calculator CDD & Carrying Cost Rent vs Buy Jacksonville Insurance Costs All 67 counties →

Disclaimer: This tool uses approved and filed AVERAGE rate changes for the 2026 renewal cycle, sourced from the Executive Office of the Governor (Jan 12, 2026), OIR filing coverage, and U.S. News (2026). South Florida county figures vary across sources by a point or two. The reshop range is illustrative and applies market average cuts to your own premium. It is not a quote, a rate, or a guarantee of savings. Your actual premium depends on your property, location, roof age, claims history, and carrier underwriting. Momentum Realty is a licensed real estate brokerage, not an insurance agency, and does not provide insurance advice. Confirm any figure with a licensed insurance agent.

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