TALLAHASSEE — Florida regulators have approved new rates for the state’s Citizens Property Insurance Corp., with premiums for the most-common type of homeowners policy increasing by a statewide average of 6.6 percent.

State insurance regulators approved an average 8% rate hike for Citizens residential customers, down from the 14% hike requested by the company. The rate changes were announced in a final order

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.

Most customers of state-run Citizens Property insurance Corp. in Broward and Miami-Dade counties will see substantial rate decreases this year, Gov. Ron DeSantis announced Wednesday. DeSantis said that Citizens will “very soon” announce that 52% of Broward County homeowners will see average decreases of 4.

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.

Premiums should be cheaper for about three-quarters of policy holders in Miami-Dade, and half of policy holders in Broward. AI stocks have been selling off following some jarring news out of China. The hospital was named Erie Osteopathic Hospital when it opened in 1950 on West Sixth Street.

Mangrove Property Insurance is the 11th new company approved to offer insurance in Florida since reforms were enacted in 2022 and 2023, the insurance commissioner said.