Citizens Insurance Responds to 2025 Rate Approval: What It Means for You

On February 6, 2025, Citizens Property Insurance Corporation released an official statement following the Florida Office of Insurance Regulation’s (OIR) approval of Citizens' rate filings for the year. The announcement comes amid continuing efforts to stabilize Florida’s property insurance market after years of volatility, especially following intense hurricane seasons.

In their statement, Citizens emphasized that the rate-setting process is routine, carefully reviewed, and subject to regulatory oversight by the OIR. The company also acknowledged Governor Ron DeSantis’ comments, which praised the 2025 rates as a sign of positive progress in the state’s insurance landscape.

What Was Said

“As it does every year, Citizens submitted a set of proposed rate recommendations to the Florida Office of Insurance Regulation for review... We thank OIR for its consideration and will implement the approved rates as required by law.”

— Michael Peltier, Citizens Spokesman

Citizens also noted that the rate-setting process involved additional data gathering and evaluation, particularly relevant this year due to an especially active hurricane season in 2024. This type of regulatory review is standard, but critical to maintaining balance between consumer protection and company solvency.

What It Means for Policyholders

This announcement confirms that Citizens' rates for 2025 have been approved and will be implemented, as legally required. Here’s what that means for homeowners:

Your premium may increase, especially if your property is in a high-risk coastal area or a region heavily affected by storms.

However, rate increases are capped by Florida law—Citizens cannot raise rates across the board without approval, and increases are phased and regulated.

The new rates also reflect reforms and market changes, including improved conditions in Florida’s insurance sector (e.g., fewer insurer exits, improved reinsurance options, and depopulation of Citizens policies back to private insurers).

Our Take: A Balanced Step Toward a Healthier Insurance Market

As someone who's followed Florida’s insurance challenges over the years, this announcement feels like a responsible and necessary move—even if rate increases are never welcome news.

It’s clear that Citizens is not just reacting to market pressure, but working with regulators to ensure any changes are based on data, fairness, and long-term system stability. This also aligns with the broader state effort to strengthen Florida’s property insurance market, which has been under heavy strain from litigation, fraud, and record-breaking storm losses.

Here’s why this update deserves a positive response:

Transparency: Citizens clearly communicated the process and its obligations to follow OIR rulings.

Regulatory Oversight: The Office of Insurance Regulation didn’t rubber-stamp the proposal—they asked for more data and made their own judgment.

Consumer Protection: By keeping the rate-setting process regulated and public, Florida ensures that rate hikes are not arbitrary.

Stability First: If approved rates reflect risk and market conditions, they contribute to keeping Citizens financially strong, which is essential if another big storm hits.

Final Thoughts

No one likes paying more for insurance—but it’s important to understand that fair, regulated pricing protects both homeowners and the long-term sustainability of the insurance system itself. Citizens is not a private, profit-driven insurer—it’s a safety net for those who can’t find affordable coverage in the private market.

As Florida's insurance market continues to evolve, strong oversight, timely communication, and data-driven decision-making like this will help rebuild trust and stability for everyone—agents, insurers, and homeowners alike.

© 2025 Citizens Property Insurance Corporation. All rights reserved.

Citizens Property Insurance Corporation. (2025, February 6). Statement on Office of Insurance Regulation’s 2025 Rate Order Approvals. This material is used under fair use for educational purposes. For the original article, see: https://www.citizensfla.com/-/20250206-statement-on-office-of-insurance-regulation-s-2025-rate-order-approvals