TRUE homeowners insurance customers in Florida are facing a significant change, as the company’s average premium increased by 31.5% in April 2025. This rate hike places TRUE among the private insurers with the largest approved increases in recent years, according to the Florida Office of Insurance Regulation.
TRUE Homeowners Insurance Rate Increase Details
The main keyword, TRUE homeowners insurance, is central to the recent approval of a 31.5% average rate increase for policyholders across Florida. According to the Florida Office of Insurance Regulation, this adjustment raises the average annual premium for TRUE’s HO-3 (standard homeowners) policy from about $4,309 to $5,665.
TRUE had approximately 18,250 policies in force statewide during the first quarter of 2025. The increase took effect in April 2025, making it one of the most substantial private insurer hikes in the state’s recent history.
Comparison to Statewide Homeowners Insurance Premiums
TRUE’s new average premium stands well above the Florida residential average. Data from the Florida Office of Insurance Regulation shows that the average premium for the top 30 Florida insurers in 2025 is about $3,023 per year. Statewide, residential premiums increased by roughly 34% from late 2022 to early 2025.
Florida continues to have the highest homeowners insurance costs in the United States. According to industry data, the projected average annual premium for homeowners in the state is $15,460 in 2025, with several Florida cities ranking among the nation’s most expensive for property insurance.
Reasons Behind the TRUE Homeowners Insurance Rate Hike
Regulatory filings indicate that TRUE’s 31.5% rate increase is considered a “catch-up” adjustment. The company had not filed adequate rate increases in previous years, leading to a need for a larger jump to cover recent losses and expenses.
According to the Florida Office of Insurance Regulation, TRUE cited several factors driving the increase:
- Significant hurricane losses in recent years
- Higher reinsurance costs in 2023 and 2024
- Insufficient prior rate filings from 2020 to 2022
Actuarial data submitted by TRUE indicated a need for a nearly 60% increase, but only half of that was requested and approved at this time. The company previously implemented an 11% rate increase in January 2024 and a 15% increase in August 2023, but made no changes to rates from 2020 through 2022.
Additional Surcharges and Endorsements for TRUE Policyholders
Alongside the main rate increase, TRUE homeowners insurance customers are subject to new surcharges and endorsements. According to regulatory filings, these include added charges for coverage of:
- Screen enclosures
- Carports
- Fungi, rot, and bacteria
Surcharges for certain structures can range from 10% to 75% of the policy limit, depending on the type of coverage selected.
Regulatory and Market Context for TRUE Homeowners Insurance
The approval of TRUE’s large rate increase comes despite recent legislative reforms in Florida. According to the Florida Office of Insurance Regulation, new laws have reduced litigation costs and, for some insurers, resulted in minor rate cuts or stable premiums.
Regulatory officials explained that TRUE’s relatively low policy count during the worst years of the state’s insurance crisis made it difficult for the company to demonstrate savings from these legal reforms. This, combined with the need to cover past hurricane losses and higher reinsurance costs, contributed to the size of the approved increase.
While reinsurance prices have dropped in 2025 for many Florida insurers, TRUE’s need to catch up on missed filings and recover from prior losses outweighed potential savings. The company is expected to seek further rate increases in the near future, according to filings with the Florida Office of Insurance Regulation.
Florida’s Homeowners Insurance Market Remains Volatile
Florida’s property insurance market continues to face volatility. The state has high exposure to hurricane risk, ongoing insurer exits, and a challenging reinsurance market. While some segments are showing early signs of stabilization, the overall environment remains difficult for both insurers and policyholders.
Industry experts note that while legislative reforms are beginning to stabilize or even reduce rates for certain insurers, companies like TRUE that did not keep up with prior rate filings or suffered significant losses are still seeking substantial increases to remain solvent.
Frequently Asked Questions About TRUE Homeowners Insurance
What is TRUE homeowners insurance?
TRUE homeowners insurance is a property insurance product offered by Trusted Resource Underwriters Exchange (TRUE) for Florida residents. It provides standard HO-3 coverage for homes, protecting against various risks including storms and theft.
How much did TRUE homeowners insurance rates increase in 2025?
TRUE homeowners insurance rates increased by an average of 31.5% in April 2025. The typical annual premium rose from about $4,309 to $5,665 for standard HO-3 policies.
Are there new surcharges for TRUE homeowners insurance customers?
Yes, TRUE has introduced new surcharges and endorsements for coverage of items like screen enclosures, carports, and fungi or rot. Surcharges for some structures can be as high as 75% of the policy limit.
Can you compare TRUE homeowners insurance rates to other Florida insurers?
TRUE’s average premium after the 2025 increase is about $5,665, which is significantly higher than the statewide average of $3,023 for the top 30 insurers. Florida overall remains the most expensive state for homeowners insurance.
Where are TRUE homeowners insurance policies available?
TRUE homeowners insurance policies are available throughout Florida. The company had about 18,250 policies in force statewide during the first quarter of 2025.
