Former Florida State Rep. and now present state chair of America First Coverage Institute Bob Rommel sat down with Florida Each day giving his evaluation on the present state of the insurance coverage and authorized reforms which have taken have an effect on over the previous couple of years.
Rommel credit the authorized reform as the principle driver for charges seeing a decline in Florida. But additionally notes that extra corporations coming into the market, are additionally serving to by stabilizing price.
“On the lawsuit reforms of 2023, lots of people stated they might not work. However right here we’re 3 years later, and lawsuits have dropped 23% in 2024 after which one other 25% in 2025,’ stated Rommel.
Rommel says the newest knowledge reveals Florida’s automobile and residential insurance coverage market has improved considerably. Almost 20 new corporations have entered Florida’s insurance coverage market within the final yr, and extra are on the way in which.
Residents Property Insurance coverage, the state run insurer of final resort, now has 50% much less insurance policies than they did in 2024. Rommel says that is the bottom it has been in over 10 years. Moreover, most Residents Property policyholders will have the ability to count on an nearly 10% discount in premium within the subsequent yr.
After years of pushing fee hikes, Residents Property Insurance coverage Board seeks a significant lower in charges for owners insurance coverage.
Different Residence Insurance coverage Firms Plan Florida Fee Decreases for 2026
Firms proposing premium decreases for 2026 embrace:
• State Farm filed for a ten% fee discount statewide
• Florida Peninsula Insurance coverage proposes a median discount of 8.4%
• The Patriot Choose Insurance coverage Firm plans to scale back premiums by 11.3%
Rommel says its not simply property insurance coverage however auto insurance coverage can be reducing.
Governor Ron DeSantis Introduced $1 Billion in Auto Insurance coverage Refunds Attributable to Florida’s Enhancing Insurance coverage Market.
GEICO plans to chop charges by 10.5%
Progressive by 8.1%
State Farm by 6%
All State and USAA each anticipate a 6.5 fee discount
Lawsuit Reform Works Straight and Instantly.
Lawsuit Reforms of 2023 are step by step making insurance coverage extra inexpensive.
The share of lawsuits in opposition to Residents Property Insurance coverage Corp. originating from South Florida has declined sharply.
The share of circumstances filed in state circuit courts in opposition to Residents Property Insurance coverage from Broward, Palm Seaside and Miami-Dade counties declined from 88% in 2020 to 55% throughout the first seven months of 2025.
