Florida Property Insurance Costs Fall While Liability Rises
Legislative reforms have lowered property premiums for Florida multifamily units, yet liability costs continue to climb.
Updated on Oct. 26, 2026 in Insurance
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As of July 2026, Florida property insurance premiums for multifamily housing have seen a significant decline, dropping to a median of $472 per door from $797 in early 2025. Conversely, the median liability insurance premium per door increased to $229 in the summer of 2026.
Why it matters
Legislative reforms enacted in 2022 and 2023 successfully reduced property litigation costs, but these measures did not mitigate rising liability litigation expenses. These increasing legal costs and large jury awards remain the primary drivers of liability pricing.
Liability insurance premiums for Florida multifamily units rose to a median of $229 per door in summer 2026, up from $167 18 months ago. Property premiums meanwhile fell to $472 per door in April 2026, compared to $797 in early 2025.
The players
Steadfast Insurance
This company is among those currently offering multifamily property and liability insurance rates below the Florida state average.
Axis Specialty Europe SE
The insurer is noted for providing coverage options that fall below the median cost for multifamily units in Florida.
Mt. Hawley Insurance
This entity maintains insurance premium pricing for Florida multifamily properties that is lower than the calculated state average.
XL Insurance America
The insurance firm is identified as one of the providers offering competitive rates for multifamily units in the Florida market.
Old Republic Union Insurance
This insurance provider is currently positioned below the average market rate for property and liability coverage in Florida.
The details
While property insurance rates have benefited from legislative efforts to curb excessive claims litigation, liability insurance remains insulated from these cost-saving reforms. Liability pricing is not correlated with local crime statistics but is instead heavily impacted by frequent lawsuits and high jury verdicts.
Timeline
Legislative reforms were enacted in Florida and Georgia during 2022 and 2023.
The median Florida property premium per door was $797 in early 2025.
The median Florida property premium dropped to $472 in April 2026.
The Georgia median property premium fell to $303 in July 2026.
The Florida median liability premium per door rose to $229 in summer 2026.
Market Dynamics
This divergence in insurance premiums marks a shift following the 2022-2023 Florida legislative reforms. The data demonstrates how targeted policy changes successfully corrected property market volatility while leaving liability costs exposed to unchecked legal expenses.
Multifamily property owners and investors in Florida should account for the rising share of liability costs in their total insurance budgets. While property premium relief provides financial breathing room, operational costs may still fluctuate due to ongoing legal pressures.
The takeaway
Property owners should anticipate that liability expenses will occupy an increasing share of their total insurance book moving forward. Focusing on risk management and legal exposure may be necessary to offset the impacts of rising lawsuit-driven premiums.
Further reading
Find more context on current Insurance trends in the state.
Source note: This article includes information reported by Insurance Journal.
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