Florida Governor Ron DeSantis has announced expected reductions in insurance policy rates across the state, with a significant impact particularly in Miami-Dade County.
According to the governor, legislative measures will lead to lower home insurance premiums for property owners.
“Seventy-three percent of primary homeowners with policies in Miami-Dade County will see a premium reduction in 2025, averaging 6.23%,” DeSantis stated.
DeSantis added that the average discount statewide will be 5.6%, benefiting three out of four homeowners in Miami-Dade. He specified that in Broward County, over 50% of policyholders will see reductions, while in Palm Beach County, 19% of policyholders will benefit, according to officials.
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The governor detailed that eleven new insurance companies have entered the Florida market over the past two years, strengthening competition and stabilizing the sector.
He also forecasted that auto insurance rates will decrease across several companies, including Geico, State Farm, and Progressive.
