Florida Welcomes Eight New Home Insurance Companies
Big changes are coming to Florida’s home insurance market! Eight new companies have been approved to offer homeowners insurance policies in the state starting in late 2024. This is welcome news for anyone feeling the pinch of rising premiums and a challenging insurance market.
Florida is working hard to create more competition by introducing legislative reforms that encourage insurers to expand their footprint in the state. These efforts aim to stabilize the property insurance market, leaving many homeowners struggling with high costs and limited options.
New Home Insurance Companies Entering Florida in 2024
- Ovation Home Insurance Exchange
- Manatee Insurance Exchange
- Condo Owners Reciprocal Exchange
- Orange Insurance Exchange
- Orion180 Select Insurance Company
- Orion180 Insurance Company
- Mainsail Insurance Company
- Tailrow Insurance Companies
This builds on progress made earlier in the year when six other insurers entered the Florida market. Once operational, their policies will be available through your trusted local independent insurance agents.
Want to explore your options now? Contact our team or get a home quote today.
What This Means for Homeowners in 2025
For Florida homeowners, this is a step in the right direction. More competition could eventually mean better prices and options for coverage. But it’s essential to remember that these benefits might take time to fully materialize. Until these companies operate across the state, many people—especially those in South Florida—might not see an immediate difference.
In the meantime, home insurance premiums are still rising, with an average increase of 7% expected this year. That’s why staying on top of your policy is more important than ever—compare your options and make informed decisions.
How Augustyniak Insurance Can Help
We get it—dealing with rising costs and limited options can be exhausting. Even though new insurers are entering the market, navigating Florida’s insurance landscape can still feel like a headache. That’s where an independent agency can help.
At Augustyniak Insurance, we work with over 32 insurance companies—including some of these new entrants—giving you more choices to find the best coverage and rates.
Our job is to make things easier for you. We’ll help you determine your options, find the right coverage for your needs, and work to keep your costs under control. Whether you’re looking for a new policy or need advice, we’re here to help.
Florida’s insurance market won’t stabilize overnight, but you don’t have to face it alone. We’re here to guide you every step of the way and help you protect what matters most.
Related Articles
- How Much Home Insurance Do I Need in Florida?
- What is a 4-Point Inspection and Why It Matters
- Comprehensive vs. Collision: What’s Right for Florida Drivers?
- Why Cheap Auto Insurance Could Cost You More Than You Think
Frequently Asked Questions
When will the new home insurance companies begin offering coverage?
Most will begin offering policies in Florida starting in late 2024, with broader availability expected in 2025.
Will these new companies lower my home insurance premium?
Not right away. While competition may help in the long term, premiums are still expected to rise in the short term.
Can I switch to one of these new insurers now?
You can begin comparing options as they roll out. Some may already be available through independent agencies like ours.
Let’s Compare Your Coverage Today
If you’re unsure whether your current homeowners policy still makes sense—or if you want to explore better options—we’re ready to help. Our team specializes in helping Florida homeowners understand the market and feel confident in their coverage.
You can complete our online quote request form below. Or call us at (904) 268-3106 to speak with a licensed agent.