Heritage Insurance Approved for Up to 9.6% Rate Decrease in Florida P&C Policies

Heritage Property & Casualty Insurance Company has received approval from the Florida Office of Insurance Regulation for a rate decrease affecting its Florida policyholders. The reduction varies by county, with some experiencing decreases up to 9.6%, while the average rate decrease is 3.3%. This adjustment will be effective starting February 18, 2026, for both new and renewal policies. This marks the second consecutive year Heritage has secured a rate decrease, following a 3.3% reduction approved in August 2024. The rate decrease aligns with ongoing improvements in Florida's insurance market, which have been influenced by legislative reforms aimed at reducing legal expenses and minimizing unnecessary claims. These changes have also contributed to stabilizing the reinsurance sector, enabling insurers like Heritage to offer more competitive pricing while maintaining financial strength. Heritage Insurance's focus remains on providing affordable property and casualty coverage, especially in catastrophe-prone regions. The company operates across several U.S. regions including the Northeast, Southeast, Hawaii, and California, managing approximately $1.4 billion in gross premiums. Its expertise includes responding to hurricanes, wildfires, winter storms, and severe weather events, emphasizing swift recovery support for affected communities. The company's decision to lower rates reflects a broader trend of regulatory and market-driven efforts to enhance insurance affordability in Florida. Heritage's rate changes demonstrate the interplay between regulatory oversight, insurance market dynamics, and risk management practices that collectively impact policyholder costs. Insurance professionals monitoring Florida's market should note that continued reforms and favorable market conditions could lead to additional rate adjustments. For Heritage, sustaining a balance between competitive rates and financial resilience remains a strategic priority as the company navigates the evolving regulatory landscape and risk environment.