Florida Multifamily Insurance Costs Show Mixed Trends
Florida building owners see property premiums drop, but liability insurance costs continue to rise.
Updated on Oct. 26, 2026 in Insurance
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Multifamily property insurance premiums in Florida fell to a median of $472 per door as of April 2026, down from $797 in early 2025. During that same timeframe, however, median liability premiums for those units rose to $229 by summer 2026, up from $167 eighteen months prior.
Why it matters
The drop in property premiums follows legislative reforms aimed at curbing excessive claims litigation in the state. Conversely, liability insurance costs remain elevated because they are driven by lawsuit frequency and jury verdicts rather than the same legislative policy shifts.
Median property insurance in Florida dropped to $472 per door in April 2026 compared to $797 in early 2025. Simultaneously, median liability insurance premiums rose to $229 in summer 2026 from $167 eighteen months prior, impacting approximately 1.7 million multifamily units.
The players
Steadfast Insurance
An insurance provider that offered median rates below the Florida state average for multifamily dwellings.
Axis Specialty Europe SE
An insurance provider that offered median rates below the Florida state average for multifamily dwellings.
Mt. Hawley Insurance
An insurance provider that offered median rates below the Florida state average for multifamily dwellings.
XL Insurance America
An insurance provider that offered median rates below the Florida state average for multifamily dwellings.
Old Republic Union Insurance
An insurance provider that offered median rates below the Florida state average for multifamily dwellings.
The details
Property insurance costs in Florida have been tempered by recent legislative reforms designed to reduce litigation expenses associated with property claims. Liability coverage, however, operates on a different mechanism where pricing is primarily influenced by the frequency of lawsuits and the scale of jury awards. Because these liability-related litigation costs were not addressed by the same reforms that reduced property claims, they continue to drive up premiums for building owners.
Timeline
Legislative reforms affecting litigation were enacted throughout 2022 and 2023.
The median Florida property premium reached $797 in early 2025.
The median Florida property premium dropped to $472 in April 2026.
The median Florida liability premium increased to $229 by summer 2026.
Georgia median property premiums fell to $303 by July 2026.
Money Landscape
The recent shift in Florida insurance costs follows the 2022-2023 legislative reforms designed to address volatility in the property market. While property premiums have begun to trend downward, the upward pressure on liability costs highlights a divergence in how different insurance segments respond to policy changes.
Building owners and managers should review their current insurance portfolios as property premiums stabilize while liability costs continue to climb. Consult with a licensed insurance professional to discuss how current lawsuit trends might affect your specific policy renewals.
The takeaway
While recent state reforms have successfully cooled property insurance costs for multifamily units, liability premiums continue to rise due to ongoing litigation patterns. It is prudent to monitor your building's liability coverage renewal notices and discuss potential risk-mitigation strategies with a qualified professional.
Further reading
For more on managing policy costs, explore our guide to Insurance.
Source note: This article includes information reported by Insurance Journal.
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