Florida regulators say over 824,300 homeowners will get rate decreases on new policies or renewals from cuts that took effect in October, some as large as 12.1%. If your Ocala or Marion County carrier is listed, check your renewal notice closely. A statewide average is not your premium.
This week the state put out a specific list of which insurers cut rates, by how much, and when. If you own a home in Ocala, Belleview, Dunnellon, Summerfield, Silver Springs Shores, or On Top of the World, there is a fair chance your carrier is on it. Here is what was announced, what it does and does not mean, and what I would do with it.
What happened
On October 29, Insurance Commissioner Mike Yaworsky and Chief Financial Officer Blaise Ingoglia announced that over 824,300 Florida homeowners will receive rate decreases in their new policies or renewals, including decreases up to 12.1%, according to the CFO's release as published by the Alachua Chronicle. Since January 2024, 48 companies have filed for a rate decrease and 53 have requested no change or a 0% increase.
News 6 ClickOrlando published the company-by-company figures from the Office of Insurance Regulation:
| Insurer | Policy type | Average change | Policies | Effective |
|---|---|---|---|---|
| Cypress P&C | HO3, HO6 | -12.1% | 64,300 | Oct. 1 |
| Manatee Insurance Exchange | HO6 | -3.5% | 3,850 | Oct. 1 |
| Kin Insurance | HO3 | -3.4% | 99,800 | Oct. 8 |
| Castle Key Indemnity | HO6 | -12% | 51,580 | Oct. 11 |
| Castle Key Indemnity | HO6 | -10.3% | 4,700 | Oct. 11 |
| Universal P&C | HO3, HO4, HO6, HO8 | -5% | 512,000 | Oct. 16 |
| Security First | HO6 | -7.3% | 17,300 | Oct. 20 |
| Mangrove Insurance | HO3 | -5.6% | 4,000 | Oct. 27 |
| Olympus Insurance | HO3, HO6 | -0.1% | 66,800 | Oct. 31 |
Source: Florida Office of Insurance Regulation figures as published by News 6 ClickOrlando, Oct. 30, 2026. Statewide averages, not a quote for any home.
Two details matter for reading that table. First, several of the biggest cuts apply only to HO6 policies, which cover condo units, not single-family homes. Castle Key's 12% and 10.3% decreases and Security First's 7.3% decrease are HO6 only. Second, the largest group by far is Universal Property and Casualty, with a 5% decrease across 512,000 policies effective October 16, covering HO3 homeowners, HO4 renters, HO6 condo, and HO8 policies.
The state also said more is coming. ClickOrlando reported that pending requests could bring decreases to another 450,000 Floridians in November, December, and January. Yaworsky said his office is reviewing the requests "and in some cases, pushing companies for larger decreases."
Mortgage rates eased in the same week. Freddie Mac's weekly survey put the 30-year fixed average at 7.24% on October 29, down from 7.32% the week before, with the 15-year at 6.60%, according to Freddie Mac. A year ago the 30-year averaged 6.17%, so borrowing is still more expensive than last fall. Freddie Mac chief economist Sam Khater said the 30-year reached "its lowest level this month."
What the announcement does not say
None of these figures is broken out for Marion County. Each percentage is a statewide average for that company's program, and a filed decrease applies when a policy is written or renewed, not mid-term. Your own premium still depends on your roof's age and condition, construction, coverage limits, deductibles, and discounts, and a home that was reinspected or had coverage changes can renew higher even when the carrier's average went down. Treat this as a reason to read your renewal closely, not as a promise of a lower bill.
What it means for buyers
- Get quotes from more than one carrier during your inspection period. With more companies filing decreases, the spread between quotes on the same house can be wide. Ask a licensed insurance agent to quote several carriers as soon as you are under contract.
- Compare deductibles, not just premiums. A lower premium with a higher hurricane deductible may not be the better deal for you. Ask whether the roof is covered at replacement cost or actual cash value.
- Run the full payment. With the 30-year average at 7.24%, insurance is one of the few monthly costs you can shop. Plug a real quote into the Ocala mortgage calculator along with taxes, and ask your lender to confirm the escrow estimate.
What it means for sellers
- Insurability helps your sale. A buyer who gets a reasonable quote quickly is a buyer who closes on time. Have your declarations page, roof permit, four point inspection, and wind mitigation report ready so a buyer's agent can quote fast.
- Check your own renewal before you list. If your carrier is on the list, your renewal may come in differently than last year, and that affects your carrying costs while the home is on the market. If you are weighing a spring listing, my Ocala seller page walks through prep, and you can request a pricing review at sellocalahome.com.
What it means for investors
- Separate owner-occupied forms from landlord forms. The listed cuts cover HO3, HO4, HO6, and HO8 programs. A dwelling fire or landlord policy on a rental may be written on a different program, so ask your agent which program each property is on before you assume a decrease applies.
- Rebuild your operating budget at renewal. Insurance is one of the largest operating costs on a Marion County rental. Update each property's numbers when the renewal lands, not from last year's figure.
- Underwrite new purchases with real quotes. Before you write an offer, get an actual quote on that address. Our Ocala ZIP code guide and the 34473 ZIP page help you compare parts of the county, and a CPA can help with how insurance and taxes affect your returns.
What I'd do this week
- Find your current declarations page and note your carrier, policy form (HO3, HO6, and so on), premium, and hurricane deductible.
- Check whether your carrier and policy form appear in the table above.
- When your renewal arrives, compare it line by line with last year's: premium, deductibles, limits, and any new exclusions.
- If the renewal went up or coverage changed, ask a licensed insurance agent to quote other carriers before the renewal date.
- If you have a Citizens takeout letter, record your choice by the November 5 deadline; my Citizens takeout guide has the details.
- Buyers: get a lender quote at this week's rates and an insurance quote on any home you are serious about, then run both together.
For the broader trend behind these filings, see my October post on Florida home insurance rate decreases.
Frequently asked questions
Which Florida insurers cut homeowners rates in October 2026?
Florida's Office of Insurance Regulation listed decreases from Cypress, Manatee Insurance Exchange, Kin, Castle Key Indemnity, Universal Property and Casualty, Security First, Mangrove, and Olympus, as reported by News 6 ClickOrlando. The cuts range from 0.1% to 12.1% and took effect between October 1 and October 31. Some apply only to condo unit (HO6) policies.
Will my Ocala home insurance go down automatically?
Not necessarily. Approved decreases are averages that apply to new policies or renewals, so your own premium can move differently based on your roof, home age, coverage, deductible, and discounts. Your renewal notice shows your actual number. A licensed insurance agent can explain what changed.
How many Florida homeowners are getting insurance rate decreases?
State officials said over 824,300 Florida homeowners will receive rate decreases on new policies or renewals from the batch effective in October 2026. News 6 ClickOrlando also reported that pending requests could bring decreases to another 450,000 Floridians in November, December, and January.
Should I shop my homeowners insurance at renewal in Marion County?
Comparing quotes at renewal is reasonable, especially with more carriers filing decreases. Compare the hurricane deductible, roof coverage, dwelling limit, and exclusions, not just the premium. A licensed insurance agent can quote several carriers at once.
What are mortgage rates in Ocala right now?
Freddie Mac's national survey put the 30-year fixed average at 7.24% on October 29, 2026, down from 7.32% the week before. The 15-year averaged 6.60%. Your rate depends on your credit, down payment, and loan type, so get a quote from a lender.
Sources
- News 6 ClickOrlando: Florida reveals new insurance rate drops effective this month (Oct. 30, 2026)
- Alachua Chronicle: State highlights major insurance rate decreases for homeowners, effective this month (Oct. 29, 2026)
- Freddie Mac via GlobeNewswire: Mortgage Rates Decline Further to 7.24% (Oct. 29, 2026)
This article is general information, not legal, tax, insurance, or lending advice, and no guarantee of any premium, coverage, rate, or value. Rate filings are statewide averages and your renewal controls your situation. Confirm details with a licensed insurance agent, and talk with a lender, CPA, or real estate attorney about your own transaction.
Cristian Gonzalez, REALTOR, eXp Realty
FL License #3633800 · Ocala, Marion County, Florida · Published November 1, 2026