Florida’s Citizens Property Insurance Corp. will reduce rates by an average of 5.6% statewide in 2025, according to Gov. Ron DeSantis. The governor said the state had the lowest average increase in homeowners insurance rates nationwide over the past year.

Governor Ron DeSantis unveiled significant progress in Florida’s insurance market during a press conference in Miami today, announcing rate reductions for homeowners and auto insurance, as well as the entry of 11 new insurance companies into the state.

TALLAHASSEE -- Gov. Ron DeSantis on Wednesday said that many South Florida customers of the state's Citizens Property Insurance Corp. will receive rate decreases this year. During an appearance in Miami, DeSantis said 73 percent of Citizens customers with homeowners policies in Miami-Dade County will receive premium reductions.

Gov. Ron DeSantis announced significant reductions in the cost of insurance for some drivers and homeowners in Florida this year.

Gov. Ron DeSantis says Florida’s insurance market is seeing improvements, with more companies writing policies and increased competition driving rates down for many homeowners.