Summary
With 17 new insurance companies entering Florida, homeowners have more choices than ever. Learn how to navigate these options and find the best coverage for your home with Sun Insurance Services.
New Insurance Options in Florida: What Homeowners Need to Know in 2025
Updated October 18, 2025
Florida’s home insurance market has changed. Since the state’s recent legislative reforms, 17 property insurers have been approved to enter or re-enter the market, expanding choices for homeowners across the state. In September 2025, the Florida Office of Insurance Regulation announced approvals for Stand Insurance Exchange and Praxis Reciprocal Exchange, bringing the total to 17. Sources: Florida OIR, Business Observer, Insurance Business.
Earlier in August, OIR noted the 15th entrant, Viceroy Preferred Insurance Company, and trade coverage highlighted Vision Insurance Exchange launching statewide (except Monroe County). Sources: OIR (Aug. 21, 2025), Florida Realtors.
A Quick Overview of Who’s Entering
- Reciprocal exchanges (member-owned models, including Praxis; approvals in 2025).
- Stock companies (traditional carriers with reinsurance programs).
- Specialty carriers (condos, rentals, higher-value homes).
- Regional players expanding from the Southeast.
- National brands returning with refined appetites.
Why it matters: more carriers can mean broader underwriting appetites, clearer options by roof age and construction type, and added flexibility on deductibles and endorsements.
What’s New in 2025 Policies
- HO-3 options with updated wind/hurricane deductibles.
- Condo and rental (DP-3) programs with clearer occupancy terms.
- Private flood pairings or standalone policies alongside NFIP.
- Additional living expense provisions clarified for temporary housing.
- Inflation and materials adjustments built into many replacement-cost terms.
Prices, Service, and Competition
Pricing
- More carriers can create tighter quotes for qualifying homes.
- Credits tied to wind-mitigation features and newer roofs remain important.
- Some carriers offer flexible billing and multi-policy options (home, flood, auto).
Service & Technology
- Mobile-first policy management and online claim intake.
- Phone and chat availability with clearer status updates.
- Local agency support for coverage changes and renewals.
How to Vet a New Carrier
Stability
- Check ratings from A.M. Best / S&P / Moody’s when available.
- Confirm Florida authority through the Office of Insurance Regulation.
- Review reinsurance partners and surplus levels noted in OIR releases.
Operations
- Claims process transparency (timeframes, documentation, communication).
- Clear coverage forms and endorsements (hurricane, water, roof, screening).
- Responsive service channels (phone, email, online portal).
Compare Policies With a Simple Framework
| Coverage Element | What to Compare | Key Questions |
|---|---|---|
| Dwelling (A) | Replacement cost limits; inflation guard |
Is it sufficient to rebuild under today’s costs? |
| Personal Property (C) |
Limits; special sub-limits (jewelry, electronics) |
Are valuables scheduled if needed? |
| Liability (E) | Amount; exclusions | Does the limit fit your assets and activities? |
| Deductibles | Hurricane vs. All-Other-Perils |
Can you comfortably handle the out-of-pocket? |
| Additional Coverages |
Loss of Use, Ordinance/Law, Water Back-Up |
Which extras are included or optional? |
Florida-Specific Considerations for 2025
Hurricane & Flood
- Know your hurricane deductible type (percentage vs. flat amount).
- Confirm wind coverage, roof requirements, and any water damage limitations.
- Coordinate NFIP or private flood with your home policy.
My Safe Florida Home (MSFH) Program
Florida approved new funding for inspections and grants for 2025–2026. Get a free wind-mitigation inspection first; eligible upgrades may receive grant support and can help with premium credits. Sources: MSFH, MSFH 2025 update (PDF).
Citizens Depopulation Continues
Citizens’ policy count has declined through 2025 as private carriers assume policies via the state depopulation program. Sources: WUSF (Aug. 27, 2025), Florida Realtors (Sep. 18, 2025), Artemis (Sep. 24, 2025), Citizens program overview.
When to Shop (and When to Wait)
- 30–60 days before renewal — widest view of options.
- After upgrades (roof, openings) — credits may change.
- Outside peak hurricane months if possible (policy changes can be limited June–Nov.).
Red Flags
- Quotes far below the market without clear underwriting reasons.
- Vague forms or exclusions you can’t review in writing.
- Hard-sell tactics or limited-time offers without documentation.
Switching Without Gaps
- Confirm approval of the new policy (effective date and conditions).
- Line up dates so coverage never lapses.
- Notify your lender with the new declaration page.
- Cancel the old policy after the new one is active.
- Store inspections and proof of upgrades for future credits.
Bottom Line for October 2025
Florida’s marketplace is expanding, with 17 approved entrants since reforms and continued Citizens depopulation. Homeowners benefit most by comparing multiple quotes, reviewing deductibles and endorsements carefully, and using current information from state sources.
Need help reviewing options? Compare carriers and see potential credits for your ZIP:
Start a quick quote • Call/Text 407-781-1610 • donna@suninsuranceservices.com
Donna Mixon — Personal Lines Insurance Agent, Sun Insurance Services