Florida Peninsula Insurance Company, one of Florida’s top ten homeowner’s insurance companies, recently filed with the Florida Office of Insurance Regulation (OIR) a proposed statewide average decrease of 8.4% for homeowner’s premiums including an average 12% decrease for condo owners. Subject to approval, most policyholders will see a significant premium decrease later this year or early 2026.

The proposed rate filing is the result of the success of recent legislative reforms benefiting consumers and marks the largest rate reductions in Florida Peninsula’s 20-year history. Dulce Suarez-Resnick, AIS, CPIA, CPIW, Acentria Insurance said, “This rate decrease is one of the most substantial proposed decreases by any Florida-based insurance company. These new rates will bring meaningful premium savings to tens of thousands of Florida households. I’m proud to represent a company that is leading the way toward a brighter future for Florida homeowners.”

Because of inflation, litigation and rising reinsurance costs, most insurance companies in Florida have raised rates in prior years making this proposed reduction all the more noteworthy. Legislative reforms enacted in 2022 and 2023, such as SB 2A (2022) and HB 837 (2023), have helped restore balance to the insurance market. These laws curtailed widespread abuse of assignment of benefit (AOB) agreements, stopped billboard lawyers’ ability to game the system when they misused the one-way attorney fee statute, and placed reasonable limits on claims handling timelines and legal strategies.

“The legislative reforms have contributed to a measurable drop in frivolous lawsuits and inflated claims, providing us the ability to pass on the savings from the law’s changes to our policyholders. This rate reduction shows that the legislative reforms have successfully addressed the root cause of increasing insurance premiums in Florida,” said Clint Strauch, President of Florida Peninsula Insurance.

Florida Peninsula Insurance is a leader in providing dependable, affordable coverage and together with their sister companies Edison Insurance Company and Ovation Home Insurance Exchange, they represent one of the largest homeowner’s insurance groups in Florida.

About Florida Peninsula Insurance Company

Founded in 2005, Florida Peninsula Insurance Company is committed to providing fast, fair, and friendly service to homeowners. Known for its financial strength, responsive claims handling, and forward-thinking risk management, Florida Peninsula helps policyholders protect what matters most. https://www.floridapeninsula.com/

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