May 2026 | FL Premium Report

Commercial Property remained Florida's largest insurance line by premium volume in May, even as reported premium declined 25% year over year, from $920.52 million to $692.67 million. Policy count moved in the opposite direction, increasing 26% from 28,401 to 35,888 policies. That combination drove average cost per policy down 40%, from $32,412 to $19,301, continuing the broader trend of higher policy activity at lower average reported cost.

Commercial General Liability reported an 8% year-over-year decline in premium, while policy count also decreased 8%, leaving average cost per policy virtually unchanged from May 2025. The contrast between CGL and Commercial Property policy volume is notable. Commercial Property first moved ahead of CGL in policy volume during the first quarter of 2025, marking a shift from prior years when CGL typically carried the higher policy count. One year later, that gap continues to widen. In May, Commercial Property reported 35,888 policies compared to 21,287 for CGL, or approximately 1.7 Commercial Property policies for every CGL policy.

Homeowners - HO-3 continued to report an average cost per policy below $4,000 in May, coming in at $3,793. That represents a 44% decrease from May 2025. While reported premium increased 38% year over year, rising from $57.21 million to $78.86 million, policy count more than doubled, increasing 145%. Coming at the start of hurricane season, the data points to continued activity in Florida's HO-3 market, with a significantly lower average reported cost per policy than one year ago.

Windstorm and/or Hail - Commercial also showed notable movement ahead of Florida's hurricane season. Reported premium declined 21% year over year, from $44.61 million to $35.08 million, while policy count increased 35%, rising from 1,791 to 2,417 policies. As a result, average cost per policy decreased 42%, from $24,910 to $14,512.

Homeowners - HO-5 returned to the top ten lines of business in May, marking the second time this year the line has reached that position. The line followed a similar pattern to HO-3, with premium increasing while policy count grew at a much faster rate. Reported premium rose 24% year over year, from $18.29 million to $22.65 million, while policy count increased 91%, from 534 to 1,019 policies. That growth in policy activity helped drive average cost per policy down 35%, from $34,243 to $22,229.