July 28, 2026
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South Florida Property & Insurance Industry BriefJuly 28, 2026 | Palm Beach, Miami-Dade, Broward, Martin, St. Lucie Today's signal: Citizens is dramatically smaller statewide, but the risk left behind is still concentrated in South Florida. Citizens reported 278,061 policies in force on July 24. Its consistent month-end count fell from 936,182 at the end of 2024 to 278,246 on June 30, 2026—a 70.3% reduction. Robinhood's calculation from Citizens' June county detail shows that Miami-Dade, Broward, and Palm Beach still held 136,110 policies, or 48.9% of the statewide book. Those policies represented about $37.85 billion in exposure, or 47.5% of Citizens' total. Meanwhile, another cost is approaching: by January 1, 2027, most Citizens personal-residential policies with wind coverage must also maintain flood insurance, regardless of dwelling value. The Robinhood read: depopulation is real, but it has not made South Florida ordinary. Property owners and transaction teams still need property-specific private-market options, a complete Citizens-versus-private cost comparison, and a plan for the flood requirement before renewal pressure arrives. TOP STORIES1. Citizens is 70% smaller, but South Florida still holds nearly half its bookCitizens' June county report puts Miami-Dade at 67,450 policies across all reported product lines, Broward at 44,669, and Palm Beach at 23,991. Together, the three counties accounted for 136,110 of Citizens' 278,246 statewide policies at month-end. The same report places tri-county exposure at roughly $37.85 billion out of $79.64 billion statewide. The concentration matters even after a major reduction in policy count: a statewide success story can coexist with a coastal market where underwriting, wind coverage, flood coverage, mitigation evidence, and building condition still drive the real household or transaction result. For properties outside a FEMA Special Flood Hazard Area, Citizens' current phase-in already covers wind-included personal-residential policies with Coverage A of $400,000 or more. On January 1, 2027, the threshold drops to all dwelling values. Citizens lists condominium unit-owner policies, tenant content policies, and policies that exclude windstorm or hail as exceptions. Action: obtain the renewal and flood requirement early. Compare Citizens and private options using the same limits, deductibles, endorsements, inspections, and flood cost; do not compare headline premiums alone. Preserve proof of flood coverage and Citizens' required affirmation when the policy is subject to the mandate. Sources: Citizens policies in force, June 30 policy totals, June county detail, December 31, 2024 policy totals, Citizens flood requirements 2. The $7,500 permit exemption is not one statewide green lightMiami-Dade now publishes a request path for certain work valued below $7,500 on eligible single-family homes, duplexes, townhouses, and accessory structures. The property cannot be partly or entirely in a flood hazard area. Electrical, plumbing, structural, mechanical, and gas work still requires permits; Miami-Dade specifically lists windows, doors, wind-resistant fences, and sheds as structural work. The owner or contractor must submit a written exemption request and documentation showing the work and value. The County also cautions that its published permit exemptions apply to unincorporated Miami-Dade and do not eliminate other required approvals. Palm Beach County reaches the opposite practical result. Its Building Division says the new exemption does not apply there because all of Palm Beach County is designated as a flood hazard area under the Florida Building Code, so current permit requirements remain unchanged. Action: ask the exact authority having jurisdiction for a written permit or exemption determination before work starts. Do not divide a project to fit the dollar limit, and do not treat an exemption from one building permit as a waiver of zoning, product approval, licensing, or other requirements. Sources: Miami-Dade permit exemptions, Palm Beach County HB 803 notice 3. A flat millage rate can still produce a higher property-tax billBroward's recommended FY 2027 budget keeps the countywide millage rate at 5.6658, but projects countywide property-tax revenue rising 5.4% with the tax roll. Its examples show the county portion increasing by $42 for an average homesteaded property and by $88 for an average other residential property. Broward also notes that county taxes are only about one-quarter of the total property-tax bill. Miami-Dade's proposed countywide operating rate is also flat at 4.5740 mills. The County says that proposed rates and hearing information will appear on August notices. Palm Beach County set its proposed not-to-exceed countywide, library, and fire-rescue rates at current-year levels, which are above the rolled-back rates, with final decisions scheduled for September hearings. Action: review the actual August TRIM notice, not the “flat rate” headline. Compare assessed and taxable value, exemptions, every taxing authority, and the proposed-versus-rollback columns; use the hearing and valuation-challenge dates printed on the property-specific notice. Sources: Broward FY 2027 recommended budget, Miami-Dade proposed countywide millage, Palm Beach County July 7 budget agenda 4. Storm coverage eases today, but heat and slow cells still threaten open workNWS Miami expects scattered thunderstorms today, with less overall coverage than recent days. Slow movement can still produce localized flooding, and stronger cells may bring damaging gusts, lightning, or hail. Forecast highs are generally in the low 90s, with heat-index values above 100 continuing through the work week. No South Florida watches, warnings, or advisories were listed in the 7 a.m. discussion. The National Hurricane Center's 8 a.m. Atlantic outlook says tropical cyclone formation is not expected during the next seven days. That is useful planning context, not a reason to relax daily water-control and documentation practices. Action: close and photograph open roofs and exterior work before convection develops, protect materials and interior finishes, and enforce heat and lightning stops. After damage, document the source and spread before temporary repairs alter the scene, then save all invoices and removed material when safe. Sources: NWS Miami area forecast discussion, National Hurricane Center Atlantic outlook SEGMENT NOTES
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Brief prepared by Robinhood Intelligence | Research date: July 28, 2026 |
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