If I were buying a home in Florida today, I’d be tracking one stat almost as closely as mortgage rates and home prices: Citizens Property Insurance Corporation’s policy count.
Because the state’s insurer of last resort is finally shrinking — and that’s a big deal for anyone watching the Florida homeowners insurance market.
Citizens ballooned for years as private insurers fled Florida’s high-risk environment. By late 2023, it covered over 1.4 million policies becoming a safety net for homeowners who simply couldn’t find coverage anywhere else.
But now, things are changing. As of mid-2025, Citizens has dropped below 780,000 policies as you can see in the graph below, and could fall closer to 600,000 by year’s end. That’s nearly half of what it once was.
In other words, the Florida homeowners insurance market is finally showing signs of balance.
When Citizens’ policy count falls, it’s not leaving homeowners hanging. Those policies are moving back into the private market — and that’s exactly what a healthy insurance ecosystem looks like.
Since 2024, more than a dozen new carriers have been approved to write in Florida, and existing insurers are expanding their books. Some are even filing for modest rate decreases, which is something we haven’t seen in a long time.
This re-entry of private carriers means more competition, more options, and potentially better pricing for Florida homeowners insurance customers.
Here’s what I tell customers and regular readers to keep in mind:
* Shop around. Don’t assume Citizens is your only option. The private market for Florida homeowners insurance is reopening — explore it.
* Upgrade wisely. Roof improvements, impact windows, and wind-mitigation reports can make you eligible for private coverage or lower premiums. As a matter of fact, my Florida homeowners insurance policy went down a tad over $1000, or 24% after I installed impact windows throughout my home this summer.
* Review “takeout” offers carefully. If a private insurer offers to assume your Citizens policy, it might actually work in your favor now.
* Think beyond today. The next 6–12 months could reshape affordability, so budget for where premiums may head — not just where they are today.
Citizens’ shrinking footprint signals confidence returning to the private market. For years, Florida homeowners insurance headlines were bad news — insurer insolvencies, rate hikes, and coverage crises. But this trend hints at something different: stability on the horizon.
That doesn’t mean rates will tumble overnight, but the overall ecosystem is healing. For buyers, that could mean smoother closings and more predictable long-term costs.
The Florida homeowners insurance story is still unfolding, but right now, it’s leaning positive. Citizens’ retreat is a sign that the private market is regaining strength — and with more carriers, competition, and stability, homeowners could soon see real benefits.
So if you’re shopping for a home or already own one in the Sunshine State, track Citizens’ policy count the same way you track interest rates. It could shape what you pay, and how confident you feel about your investment in Florida.
(Top Photo: Cruising Historic Marina District last Saturday evening)
—————————————————
*** Check out my latest video on why I’m so bullish about investing in Delray Beach next year
*** Follow along on more Florida Homeowners Insurance good news as more competition means lower premiums
*** Delray Beach has the Clearest, Bluest Water In The Southeast
——————————————-
*** South Florida Real Estate Inventory is ABOVE 2019***
Last week’s supply was 57,300
Today’s supply is 57,103
*** Supply was down 197n unit last week ***
*** Supply is DOWN 18 of 22 weeks and Down 12% From April ***
