After several difficult years, Florida’s home insurance market is turning. The state’s insurance regulator approved another round of homeowners rate decreases in September 2026, Citizens Property Insurance Corporation lowered its rates for 2026, and new insurers continue to write policies in Florida. Here is what changed, what the numbers show for Collier County, and how Naples homeowners can make the most of it at renewal.
This update uses figures published by the Florida Office of Insurance Regulation (OIR) and Citizens through early October 2026. For coverage options on your own home, see our page on homeowners insurance in Naples.
What changed in Florida’s home insurance market
- More rate decreases approved. On September 22, 2026, OIR announced approved decreases for four insurers, ranging from 3.2% to 10.4% and affecting more than 62,000 policies. The decreases take effect at renewal. OIR said pending requests range from −0.3% to −19.7%.
- The average request is now a decrease. The 30-day average requested change for homeowners rates was −4.8%, compared with −1.1% a year earlier and +5.2% five years earlier. Since January 2024, 48 companies have filed for a decrease and 53 have requested no change.
- Florida stood out nationally. According to an S&P Global report cited by OIR, Florida was the only state with a homeowners rate decrease in 2025 (−0.92%), while the national weighted average rose 5.5%.
- New insurers. OIR’s July 2026 Property Insurance Stability Report says 21 new companies have been approved to write residential property policies in Florida since the 2022 and 2023 reforms.
- Stronger insurer results. Florida’s domestic property insurers reported a pooled combined ratio of 83% in 2025, the lowest in more than a decade. A ratio under 100% means insurers paid out less in claims and expenses than they collected in premium.
- Cheaper reinsurance. Insurers buy reinsurance to help pay their own hurricane losses, and it is a major cost built into Florida premiums. OIR’s preliminary 2026 data suggests risk-adjusted reinsurance costs fell at least 10% from 2025 across most layers, on average.
Sources: OIR rate decrease announcement, September 22, 2026 and OIR Property Insurance Stability Report, July 2026.
Citizens is smaller and cheaper in 2026
Citizens, the state-created insurer for property owners who cannot find coverage in the private market, lowered its 2026 homeowners multiperil rates by an average of 8.8% statewide, according to its March 2026 announcement. The new rates took effect July 1, 2026 for new policies and apply to existing policies at renewal.
Citizens has also shrunk sharply as private insurers have taken on policies. It reported 254,736 policies in force as of October 2, 2026, compared with a peak of 1.41 million in October 2023.
What Citizens’ figures show for Collier County
Citizens published approved county-by-county estimates with its 2026 rates. For Collier County:
- Homeowners (HO-3): an average decrease of 6.0%, from an average premium of $4,531 to $4,261.
- Condo unit owners (HO-6): an average decrease of 11.3%, from $1,959 to $1,738.
- All Citizens personal lines policies in Collier: an average decrease of 4.1%.
Not every policy type fell. The same table shows increases for some smaller groups, including wind-only dwelling policies. Even after the cut, Citizens’ estimated average HO-3 premium in Collier remains above its statewide average of $3,202. Sources: Citizens 2026 rate announcement, approved rate changes by county and Citizens policies in force.
What this means for your Naples renewal
Statewide averages do not guarantee that your premium will fall. Your renewal still depends on your insurer, your home’s age, roof, construction and location, your claims history, and the coverage and deductibles you choose. The changes do give many Naples homeowners more room to compare. Before your next renewal:
- Compare options instead of auto-renewing. With more insurers writing in Florida, a home that had few choices in 2023 may have several now.
- Update your wind mitigation report. Documented features such as roof-to-wall connections and opening protection may qualify for credits. See our wind mitigation inspection guide.
- Know your roof’s age and condition. Insurers may ask for a 4-point inspection on older homes. Our 4-point inspection guide explains what they review.
- Check your limits and hurricane deductible. A lower price is not a saving if your dwelling limit no longer reflects the cost to rebuild.
- Remember flood is separate. Standard homeowners policies exclude flood. Our flood insurance page covers the options.
- If you are with Citizens, review private offers. Compare coverage, deductibles and the insurer, not just the price. Citizens remains available for owners who cannot find coverage in the private market.
If your renewal still went up, our guide to a Florida home insurance renewal increase walks through the usual reasons and what to ask.
PRK Insurance Inc is a full-service insurance agency in Naples. We can compare homeowners, condo and flood options from multiple insurers before your renewal. Call 239-799-5884 or request a quote.
Frequently asked questions
Will my home insurance go down at my next renewal?
Not necessarily. Approved decreases apply to the insurers that filed them, and each policy’s premium depends on the property and coverage. A renewal can still rise if your home’s value, rebuild cost, roof age or claims history changed. Comparing options is the best way to see where your home stands.
Why are Florida rates falling now?
OIR and Citizens credit the 2022 and 2023 legislative reforms, aimed largely at reducing litigation, for the recovery. OIR points to new insurers entering the market and lower reinsurance costs in 2026 as signs that the market has stabilized.
When do approved rate decreases take effect?
At renewal. OIR’s September 2026 approvals are effective at renewal, and Citizens’ 2026 rates applied to new policies from July 1, 2026 and to existing policies as they renew.
Should I leave Citizens for a private insurer?
It depends on the offer. Compare the coverage, deductibles, exclusions and the insurer’s financial strength along with the premium. Our team can review a private offer side by side with your Citizens policy.
This article summarizes publicly reported market information as of October 2026 and is not a quote, prediction or coverage guarantee. Rates, eligibility and coverage vary by insurer, property and policy, and averages may not reflect your premium.
