Nine property insurance companies have  filed for 2024 rate reductions and 10 won’t be increasing rates at all. Is your company on the list?

TALLAHASSEE, Fla. — The Florida Office of Insurance Regulation (OIR) is highlighting a downward trend for property insurance rate filings, saying it is a sign that Florida's housing insurance issues are improving.

Ten companies filed a 0% increase in 2024, and nine companies filed for a decreased rate this year, the OIR reported last week.

The nine companies that have filed for a rate reduction in 2024 are:

• Safe Harbor Insurance Company

• Spinnaker Insurance Company

• Southern Oak Insurance Company

• American National Property & Casualty Company

• Heritage Property & Casualty Insurance Company

• US Coastal Property & Casualty

• Florida Peninsula Insurance Company

• Stillwater Property and Casualty Insurance Company

• American Integrity Insurance Company of Florida

In addition, the 10 companies that filed a 0% increase in 2024 are:

• Florida Family Home Insurance Company

• Florida Farm Bureau General Insurance Company

• American Bankers Insurance Company of Florida

• Edison Insurance Company

• Castle Key Insurance Company

• Heritage Property & Casualty Insurance Company

• Castle Key Indemnity Company

• American Integrity Insurance Company of Florida

• American Security Insurance Company

• American Traditions Insurance Company

"As insurance commissioner, my top priority has been increasing protection for Florida's consumers and today's announcement demonstrates Governor DeSantis' ongoing commitment to ensuring a strengthened and reliable insurance market for policyholders," said Insurance Commissioner Michael Yaworsky.

The OIR said it is continuing to see market stabilization due to legislative reform in 2022 and 2023.

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