What Florida's 2026 Election Could Mean for Home Insurance

Florida picked a new governor on Tuesday, and home insurance was one of the issues on the table. According to Insurance Journal, U.S. Rep. Byron Donalds, a Republican, narrowly defeated Democrat David Jolly, 50.02% to 49%, per the Florida Division of Elections tally. Both candidates had pledged changes to the state's property insurance rules.

Nothing changes on your policy today. Campaign pledges need legislation, rulemaking or both before they touch a premium. But two specific ideas are worth understanding, because they're likely to come up when lawmakers meet next year.

Idea 1: An insurer scorecard

Insurance Journal reports that Donalds has pledged to introduce a scorecard on Florida insurers, which could include how fast claims are paid. Some insurers and industry advocates have raised concerns, the outlet notes, because claim payments can be delayed for legitimate reasons, such as difficulty finding repair contractors after storms.

No details have been published yet on what a scorecard would measure or who would run it. For now, the best public data on how individual companies are doing is the state's own Market Intelligence Report (MIR) filings. Our insurer directory is built from OIR's August 2026 MIR summary, which shows each company's policies in force, new policies written, nonrenewals, claims opened and lawsuits opened. OIR notes that MIR data is reported by companies and isn't audited.

Idea 2: Ending the Cat Fund's "cash build-up factor"

The Florida Hurricane Catastrophe Fund (the Cat Fund) is a state-run reinsurance program. Insurers pay it premiums, and it reimburses part of their losses after a big hurricane.

Since 2013, insurers have paid an extra 25% on top of their Cat Fund premium, called the cash build-up factor. The Cat Fund's 2025 white paper explains the history: after Hurricane Wilma in 2005, the fund borrowed $2.65 billion, which was repaid through emergency assessments on nearly all Florida property and casualty policyholders for eight years. Lawmakers added the factor in 2009 at 5%, raising it 5% a year until it reached 25% in 2013.

The two sides of the debate:

• For repeal: Donalds told Fox News in October that repealing the build-up factor would "automatically begin to lower premiums" for property owners, Insurance Journal reported.
• For keeping it: The Cat Fund's paper says the factor has added $3.7 billion in assets plus $0.5 billion in investment income, about $4.2 billion total through the 2024 contract year. It warns that eliminating it "will increase the FHCF's reliance on debt," with the biggest impact after a major hurricane.

Insurers pass this cost along. Citizens' 2026 rate filing, for example, lists "an appropriate charge to pass through" the build-up factor as required by law. How much a repeal would move any one homeowner's bill hasn't been estimated in any source we've found, so we won't guess.

What's already happening without new laws

Rates have been moving down under the current rules. OIR said on October 29 that more than 824,300 Florida homeowners are getting rate decreases in October, with pending decreases for about 450,000 more taking effect in November, December and January. Since January 2024, OIR says, 48 companies have filed for a rate decrease and 53 have requested no change. Our rate changes tracker logs the individual approvals, including recent cuts from Vyrd and One Alliance (-10.4% each).

Insurance Journal also notes that voters approved Amendment 3, which will reduce property taxes for some homeowners. That's separate from insurance, but it may affect your overall housing costs.

What to check

• Don't wait on politics to shop. Pledges take time. If your renewal is coming up, compare quotes now and check our who's writing new policies page.
• Look up your insurer's filing. See whether it filed a decrease on our rate changes tracker or insurer directory.
• Watch the 2027 session. Any scorecard or Cat Fund change would need to pass the Legislature. We'll cover bills as they're filed.
• Ask your agent how your insurer's reinsurance costs factor into your premium.

This post is general information, not legal, financial or insurance advice. Confirm your coverage and pricing with your agent, your insurer or the Florida Office of Insurance Regulation.

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Not insurance, legal or financial advice. Confirm details with your insurer, a licensed agent or the Florida Office of Insurance Regulation.