The insurance news is moving fast these days and we definitely want to catch you up. If you’ve been bracing for yet another painful insurance bill, you might finally be in for some good news!
Governor Ron DeSantis just announced some big insurance changes for 2025, promising rate reductions, more private market options, and funding to help homeowners stormproof their properties.
But before you start celebrating (or skeptically raising an eyebrow), let’s break down what’s actually happening—and how it impacts you.
Wait… Are Insurance Rates Actually Dropping?
Surprisingly, yes—at least for some.
Home Insurance: Citizens Property Insurance (Florida’s state-backed insurer of last resort) is shrinking as more policies move back to the private market. Around 20% of Citizens policyholders will see lower rates, and with increased competition, private insurance rates could get more competitive.
Auto Insurance: If you live in Miami-Dade, Broward, or Palm Beach County, insurers like GEICO, Progressive, and State Farm have already announced premium reductions ranging from 6% to 10.5%.
Why Is This Happening Now?
Florida has been dealing with an insurance crisis for years—think skyrocketing premiums, insurers pulling out, and way too many lawsuits. But recent laws have tried to:
- Crack down on shady lawsuits that drive up costs for everyone
- Move policies out of Citizens Insurance to increase competition
- Make home-hardening upgrades more accessible to lower risks and premiums
How Homeowners Can Save Even More
A major highlight of DeSantis’ plan is the My Safe Florida Home Program, which got a $590 million boost to help Floridians make wind-resistant upgrades (think impact windows, stronger roofs, and reinforced garage doors).
Why it matters: Making these improvements could lower your insurance rates even further—and in some cases, the program will pay for part of the cost.
Should You Do Anything Right Now?
Absolutely. Even if your rates aren’t dropping yet, there are ways to take advantage of these changes.
- Review your policy: If you’re with Citizens, see if you’re in the group getting a rate reduction—or if you should consider a private insurer.
- Check if you qualify for My Safe Florida Home grants: If you’ve been thinking about upgrades, this could be your best chance to get financial help.
- Shop around for auto insurance: With rates shifting, now is a great time to see if you’re overpaying.
At RiskSmart Advisors powered by John Galt Insurance, we make this easy. We’ll break down your options, find you the best rates, and make sure you’re not missing out on any discounts. Because no one should be overpaying for insurance if they don’t have to.
Need Help? Let’s Talk.
We’re all about making insurance simple, smart, and stress-free. Whether you need a policy review, better coverage, or just a clear answer on what these changes mean for you, we’re here to help.
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Let’s make sure you’re getting the best coverage at the best price—without the guesswork.