Heritage Insurance Files Second Rate Reduction With Florida Regulator
Heritage Insurance CEO Ernie Garateix has announced the company has filed a second rate reduction with the Florida Office of Insurance Regulation, potentially leading to lower homeowner insurance premiums in the Tampa Bay area, with specific regions like Hillsborough County…
Tampa St. Petersburg, FL, October 16, 2026 —
Heritage Insurance CEO Ernie Garateix announced that the company has filed a second rate reduction with the Florida Office of Insurance Regulation, a move that could lead to lower homeowner insurance premiums in the Tampa Bay area.
Hillsborough County is among the areas identified in the announcement, with an expected decrease of 8% to 9%. The information provided does not specify whether that range applies to every homeowner policy in the county or describe how individual premiums would be affected.
The filing is a request submitted to the state regulator; the announcement does not say that the reduction has been approved. It also does not provide a decision timeline, a proposed effective date or details about the policies covered. The specific regions beyond Hillsborough County that could be affected were not identified.
The announcement describes this as Heritage Insurance’s second rate reduction filing, but does not provide the timing or details of the first filing. It also does not state the amount of the proposed reduction outside the Hillsborough County estimate.
As a result, the potential premium change remains subject to information not included in the announcement, including the regulator’s decision and the filing’s terms. The information provided does not identify how many policyholders may be affected or when any change could appear on their premiums.
Story summarized from the original created by Nadeen Yanes on www.tampabay28.com, see more information here.
