Florida Homeowners Insurance Has Changed — Are You Still Paying 2022 Prices?
Your policy renewed. You paid it. But the market is not the same market it was two years ago. In Palm Beach County, 76.9% of Citizens-insured homeowners are set to see an 11.7% rate reduction — an average savings of $423/year.
A lot of Florida homeowners are still paying premiums based on the worst part of the insurance cycle. If you haven’t shopped your policy in the last 12 months, there’s a real chance you’re overpaying. In 2026, for the first time in 10+ years, Citizens recommended rate decreases; in Palm Beach County specifically, nearly 8 out of 10 Citizens policyholders are set to see double-digit reductions. The private market is dropping too — 17 new insurance companies have entered the Florida market since the legal reforms.
I’m not an insurance agent, and I’m not here to sell you a policy. I’m here to tell you what I’m seeing in Palm Beach County: homeowners who never re-shopped after the insurance spike are often still paying old-crisis pricing. That mistake can be costing $1,000-$4,000 a year, and most of the people affected don’t even know the market changed.
The Numbers That Changed in 2026
Sources: Citizens Property Insurance Corporation (2026 rate recommendations), Florida Office of Insurance Regulation, market analysis from Chambers and Partners (January 2026). Citizens reduced its policy count from 1.42 million in October 2023 to 385,000 by end of 2025 — the lowest level since Citizens was created. Citizens 2026 rate cuts would take effect June 1, 2026, subject to approval by the Florida Office of Insurance Regulation following public hearings.
Citizens rate cuts and the entry of more competition don’t benefit every homeowner equally. Properties with old roofs (15-20+ years), obsolete electrical panels, higher-risk coastal locations, or multiple prior claims may still see increases or have fewer market options. What does apply to everyone: if you haven’t re-shopped in the last 12 months, it’s worth getting fresh quotes to see where you stand in this new market.
Savings I’m Seeing in Palm Beach County
Over the past two years, I’ve had client after client come to me shocked by what they found after re-shopping. I’ve seen savings as high as $4,000 a year. I personally saved $3,500.
This isn’t about chasing gimmicks or a special offer. It’s about recognizing that the market shifted and a lot of people never got the memo. Individual results vary based on property, location, roof age, claim history, and other factors.
Your Policy Renewed. But Did the Market?
Most homeowners assume insurance works one way: the renewal comes in, the number is ugly, you pay it, and you move on.
That was understandable during the peak of Florida’s insurance mess (2021-2024). Premiums jumped hard — statewide averages climbed 78% in three years, from $2,520 to $4,480. Multiple carriers went insolvent (Southern Fidelity, FedNat, United Property, and others). Hundreds of thousands of homeowners ended up with Citizens because the private market wasn’t writing new policies. And people got trained to think pain was normal.
That assumption is now costing some homeowners real money.
What Changed in the Market
Florida’s insurance crisis was not just a weather story. It was a legal-cost story too.
For years, the state was carrying a wildly disproportionate amount of litigation tied to homeowners insurance. That drove up costs across the system. Add contractor abuse, inflated repair fights, and Assignment of Benefits (AOB) misuse, and carriers had no room to price calmly. Three years of legal reforms changed that:
- 2022-2023: Major legislative reforms — eliminated one-way attorney fees (which forced insurers to pay plaintiffs’ legal costs even on partial wins) and severely restricted assignment of benefits on new policies
- 2024-2025: The market responded — 17 new insurance companies entered the Florida market. Litigation started dropping. Citizens started its “depopulation” program to move policies back to the private market. Over 546,000 policies transferred from Citizens to the private market in 2025 alone.
- 2026: First broad rate cut in 10+ years — Citizens recommended an average 2.6% statewide reduction, with much larger cuts in South Florida
Litigation started dropping. Citizens started shrinking. More competition started returning. That matters because competition is what gives homeowners options.
What This Means Specifically in Palm Beach County
The 2026 Citizens rate proposals (effective June 1, 2026, subject to regulatory approval) show specific data for Palm Beach County:
- 76.9% of Citizens policyholders in Palm Beach County would see a rate reduction
- Average reduction of 11.7% — average savings of $423/year
- Comparable to Broward (12.6% / $462) and Miami-Dade (13% / $433)
- If you’re with a private carrier, competitive pressure from Citizens reductions could allow you to get a better rate by re-shopping
If your policy is with Citizens and hasn’t been re-quoted this year, it’s worth checking whether you’re on the reduction list at renewal time.
Where People Get Burned Chasing Lower Premiums
1 Roof Age
This is still the biggest issue. A roof over 15-20 years old drastically reduces the carriers willing to quote. Fewer options means weaker competition. Weaker competition usually means a worse quote. If your roof is over 12 years old, it’s worth getting replacement quotes to understand the real cost (versus the accumulated insurance increases you’d avoid).
2 Wind Mitigation Inspection
Hip roof, hurricane straps, impact windows, and impact doors can move the premium significantly. If your report is outdated (more than 5 years old), you may be leaving savings on the table. The inspection costs $75-$150 and is valid for roughly 5 years.
3 Water Damage Limits
A lower premium does not automatically mean a better policy. Some newer policies are trimming water and plumbing coverage hard — some cap water damage at $10,000-$15,000 when previously coverage was full. Compare coverage limits, not just the number at the bottom. A policy $500 cheaper with $25,000 less water coverage isn’t real savings.
4 My Safe Florida Home Program
The state of Florida offers grants up to $10,000 for mitigation improvements (impact windows, roof bracing, hurricane straps, etc.). These improvements qualify for insurance discounts of 10-40%. The program requires application and approval before work begins — verify eligibility before making improvements on your own at mysafeflhome.com.
What To Do Right Now
- If you haven’t re-shopped your policy in the last 12 months, do it. Get 3+ quotes from different carriers. The current market has more options than 2022-2024.
- If your wind mitigation report is outdated, update it. $75-$150 can generate hundreds in annual savings.
- If your roof is limiting your options, get real pricing on what a replacement would cost before assuming it’s out of reach. The real math: new roof cost vs. cumulative insurance increases over the next 5-10 years.
- When comparing policies, look at deductible structure, water coverage, and wind coverage. Don’t just look at the bottom-line premium — trimmed coverage hides the true cost.
- If you’re with Citizens, verify the 2026 rates that go into effect June 1, 2026 (subject to regulatory approval).
- If you’re with a private carrier, get fresh quotes anyway — competitive pressure from Citizens forced private market reductions too.
Re-shopping doesn’t guarantee a lower premium. For some homeowners — especially with old roofs, higher-risk coastal locations, multiple prior claims, or properties in high flood-risk zones — premiums may keep rising or options may be limited. What is certain: not re-shopping is the only guarantee of missing a better option. And for homeowners with well-maintained properties and relatively new roofs, the probability of finding a better rate in 2026 is the highest in a decade.
Need the Right Local Contacts?
Text me the word INSURANCE and I’ll send you my vetted list of:
✔ Insurance agents who quote multiple carriers · ✔ Wind mitigation inspectors · ✔ Roofers experienced with Florida insurance requirements
📱 Text INSURANCE to 561-201-4717Need to Talk Before You Decide?
If you want a no-pressure conversation about how the insurance market shift affects your specific property — or if you’re considering selling in the next few years and need to understand how insurance affects what a buyer can pay for your home — call me. 28+ years of Palm Beach County experience, 1,500+ transactions, and a willingness to tell you straight what your situation actually looks like.
Call Brian direct: 561-201-4717 · Bilingual Spanish: Lucy Lopez 561-285-8809
Frequently Asked Questions
Why did Citizens rates drop in 2026?+
How do I know if I’m in the 76.9% getting a reduction in PBC?+
What if I’m not with Citizens? Does this affect me?+
Is it worth switching from Citizens to the private market?+
What if I have an old roof?+
What exactly is the My Safe Florida Home program?+
What if I’m planning to sell in the next few years? Does this matter?+
Final Take
A lot of Florida homeowners got conditioned to think insurance pain was permanent. It wasn’t. In 2026, for the first time in 10+ years, the market is moving downward for many homeowners — especially in Palm Beach County where nearly 8 out of 10 Citizens policyholders are set to see reductions.
That doesn’t mean every quote will be cheaper. It does mean this is one of those moments where doing nothing can cost you. If your policy renewed without re-shopping, the effort of getting 3+ fresh quotes to see where you stand in the current market is worth it.
See Also
Brian Wilder
The Wilder Real Estate Group at Keller Williams Wellington
In business since 1996 · 1,500+ homes sold across Palm Beach County
561-201-4717
Bilingual Spanish/English: Lucy Lopez · 561-285-8809
This post discusses the Florida homeowners insurance market in 2026, based on verifiable sources (Citizens Property Insurance Corporation, Florida Office of Insurance Regulation, Chambers and Partners, multiple market publications). Citizens 2026 reduced rates (effective June 1, 2026, average Palm Beach County reduction 11.7%, average savings $423) are subject to final approval by the Florida Office of Insurance Regulation following public hearings. Client savings and Brian Wilder personal savings referenced ($4,000 maximum, $3,500 personal) reflect real but individual results; results for each homeowner vary based on property, location, age and condition of roof and systems, claim history, flood zone, and other factors. Brian Wilder and Lucy Lopez are not insurance agents and this post does not constitute insurance, legal, financial, or tax advice. Decisions about insurance policies should involve a licensed Florida insurance agent. State programs like My Safe Florida Home have specific eligibility and application requirements — verify at mysafeflhome.com. Information deemed reliable but not guaranteed. Equal Housing Opportunity.