Florida homeowners should prepare for notable changes in their property insurance premiums in 2025 as the state’s insurance landscape undergoes a significant transformation. The Florida Office of Insurance Regulation (OIR) has approved new rate increases for Citizens Property Insurance Corporation’s multi-peril program and wind-only policies, signaling adjustments that will impact homeowners across the state.
Under the new guidelines, the OIR has set a 6.6% statewide average increase for Citizens’ multi-peril program, with a 14.5% increase for wind-only policies. These changes, effective June 1, 2025, come as part of an ongoing effort to stabilize the market following the state-run insurer’s rapid growth and subsequent depopulation initiatives.
In recent years, Citizens Property Insurance Corporation, long regarded as Florida’s insurer of last resort, saw its policy count balloon to 1.4 million in 2023. Now, in an effort to offload a portion of these policies, the insurer has been transitioning policyholders to private insurers through the Citizens Depopulation program. With the total number of Citizens policies now under 1 million, these rate adjustments are viewed as a strategic step in rebalancing the market.
The OIR’s order also includes a minimum rate change cap of -10% and a maximum cap of 14% for primary residential policies. For non-primary residences such as vacation homes, the average statewide premium increase is even steeper, at 17%. Overall, Florida homeowners can expect an average premium increase of 8.6% in 2025.
While Citizens had initially requested larger increases for other insurance lines—including dwelling fire, commercial property, and condominiums—the OIR opted for more moderate adjustments. According to representatives from Citizens Property Insurance Corporation, the new rates reflect positive developments in the Florida property insurance market, aimed at ensuring long-term stability and fair pricing for policyholders.
As the insurance market evolves, Florida homeowners are encouraged to review their policies and explore available options. With the 2025 rate increases now in effect, proactive planning and consultation with insurance professionals may help mitigate the financial impact on households statewide.