More Florida Insurers Announce Rate Cuts for Auto, Homeowners, Condo Units

Three more insurance carriers have announced reduced rates—for homeowners, condominium units and for auto policies, affecting more than half a million policies in Florida.

USAA insurance, catering to military service members and their families, said it had reduced auto rates by an average of 7%, for more than 498,000 policies. The largest share of USAA’s customer base is in Brevard, Escambia and Okaloosa counties, which will see average decreases of 5.8%, 8%, and 8.4%, respectively, the Florida Office of Insurance Regulation said in a bulletin this week.

“Florida’s auto insurance market continues to show strong growth and stability. As of this fall, the top five auto groups are showing a 2026 indicated rate change of -12.6%, affecting 81% of Florida’s auto market,” the OIR noted.

For homeowners, Mangrove Property Insurance this week touted an average 5.6% statewide decrease for its HO3 program. The reduction was made on a use-and-file basis: Florida’s OIR has not yet reviewed the plan.

“Mangrove’s rate adjustments reflect the company’s own underwriting experience since its launch in 2025, including the consequential impacts of Florida’s 2022-2023 legislative and regulatory reforms, which successfully stabilized and strengthened the state’s property insurance market,” the company statement noted.

The insurer, based in St. Petersburg, Florida, did not say how many policies would be affected. Florida OIR quarterly reports show that Mangrove had more than 48,000 homeowner policies in March of this year.

And Ormond Beach-based Security First said it will trim HO6 rates by an average of 7.3%. That will reflect discounts for condo owners who go through the same insurance agent for home and auto policies; discounts for smoke detectors; discounts for military members and first responders, and a “disappearing deductible” program, as well as other discounts.

The reduction has been filed and is in effect for more than 20,000 polcyholders, the company noted.

It’s the latest reduction for Florida condominium coverage, which brokers have said has continued to decrease following years of upheaval from the 2021 Surfside condo collapse and from Florida statutes approved in 2022 that required new inspections on condominium buildings.