When it comes to homeowners insurance, there’s a major theme of high rates being felt across the state.

For 2024, the average private market rate increase in Florida is 2%, according to the insurance information institute.

After a unanimous vote by Citizens Insurance's board of governors Wednesday, the state-backed insurance provider is planning to increase its rates by 14% in 2025.

With Citizens asking for an increase, nine companies have filed for rate decreases and 10 have filed for flat rate increases, according to the Insurance Information Institute.

Despite the increase for Citizens policy holders, the rate is still well below the cost of a private policy.

Before he even becomes a Citizens Insurance customer, Brian Mills discovered his rate for 2025 is likely going up.

“My policy doesn’t end until October, but my broker told me to go ahead and get the policy as soon as possible with citizens,” Mills said.

He received a letter from his current carrier saying it was pulling out of Florida. This fall, he will be a Citizens customer, and expects it to have a larger price tag.

That rate is still less than the next one he could find, and still less than what it would have been next year with his current provider. Knowing his new rate in 2025 will increase by about $500, though, wasn't sitting well with him.

“I mean, I am going to shop around, honestly, when it comes time," Mills said. "I just have to see if I can find any relief anywhere."

Steve Gensolin is the owner of the Little Star Insurance Agency and said a 14% rate increase for Citizens seems excessive, considering how much they’ve made over the years.

“I see that they made $700 million in revenue, in positive cash flow revenue, from last year and they still have over five billion (dollars) in their policy holder reserves,” Gensolin said.

Despite the rate increase, officials with Citizens Insurance said they are going to continue to depopulate their policies after the last three months of the year. So far, they have been able to move about 400,000 policies to the private sector.

But despite the efforts to depopulate, Citizens this year is signing about 5,000 new policies, according to the Insurance Information Institute.

When it comes to 2025, Citizens commercial policy holders will also see a rate increase, though a smaller one of around 10%.

The new rates still need to be approved by state regulators.