Another Sign of the Times: Security First Reduces Average Dwelling/Fire Rates

Ormond Beach-based Security First Insurance, with almost 50,000 dwelling/fire policies in Florida, announced it has cut average rates and is offering new discounts for DP policyholders. The carrier said it has reduced rates by an average of 5.6% for its dwelling/fire basic policies, statewide, effective July 15. For dwelling owner (DF3-DO) policies, Security First has expanded eligibility, added new premium discounts, and has enhanced disappearing deductibles. The dwelling owner policy enhancement took effect June 15 for new and renewal business. The changes are another indication of a much-improved Florida property insurance market, which was experiencing regular, double-digit rate hikes almost annually for many carriers— until after the 2022 legislative reforms were enacted. Security First in October announced an average 8% rate decrease for thousands of homeowners. That followed a 5.2% cut. Other carriers have made similar rate reductions in the last two years, as the effects of the legislative reforms have spread through the market. Florida Peninsula Insurance in July 2025 filed for an 8.4% average decrease in homeowners’ policies. Citizens Property Insurance Corp. produced an average 8.8% reduction for HO multiperil policies earlier this year, and Heritage Property & Casualty Insurance announced a 3.3% rate decrease in January, to name a few. Was this article valuable? Thank you! Please tell us what we can do to improve this article. Thank you! % of people found this article valuable. Please tell us what you liked about it. Here are more articles you may enjoy.