Citizens Property Insurance Corp. , which provides property insurance for Floridians who can’t get coverage elsewhere, is recommending lower rates for policyholders next year.

The Citizens Board of Governors approved the recommended rate reductions Wednesday. If the reductions get final approval by state regulators, it will be the first time since 2015 Citizens policyholders would see a decrease in policy payments.

The recommendation suggested statewide average rates to drop by 2.6% in 2026 for personal line policies. At that rate, according to a Citizens news release , the average premium for 3 out of every 5 policyholders would see premiums fall by 11.5%, or $359.

Citizens officials credit major overhauls to Florida’s insurance regulations this decade for prompting the recom

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