Florida Office of Insurance Regulation Approves Significant Rental Insurance Rate Decrease

In a move that provides much-needed relief for property owners and investors, the Florida Office of Insurance Regulation (OIR) announced on October 2, 2026, that it has approved an average rate decrease of 12.8% for more than 120,000 rental insurance policies across the state.

This reduction is part of a broader trend of stabilization within the Florida property insurance market. Following years of volatility, recent legislative reforms and increased carrier capacity have allowed for more competitive pricing, benefiting landlords who have faced rising operational expenses.

Key takeaways for property managers:

• The rate decrease applies to over 120,000 policies, potentially lowering the cost of doing business for residential rental providers.
• This adjustment reflects the ongoing recovery of the domestic property insurance market, which has seen 20 new insurers enter the state since 2022.
• Landlords are encouraged to contact their insurance providers to verify how these approved rate changes may impact their specific renewal premiums.