In the warming Florida market, post-legislative reforms, much of the focus has been on homeowners’ property insurance rates. But one segment has been overlooked to a degree: multifamily dwellings, a category that includes everything from duplexes and fourplexes to big apartment complexes with hundreds of residents.
Data from Advocate Technologies, a data analytics firm that tracks commercial and commercial residential rates around the country for the insurance industry, show that property insurance premiums for multifamily dwellings in Florida, like those for most other properties, have indeed fallen sharply in the last two years.
But liability coverage prices have climbed, partly due to the impact of litigation and large lawsuit awards. It seems that Florida’s historic 2022 and 2023 legislative reforms have had a significant impact on property insurance by disincentivizing excessive claims litigation. But liability claims and lawsuits continue to cost insurers and insureds, at least in the multifamily segment, the Advocate data and reports suggest.
“Property softening is cyclical and can reverse on one bad catastrophe season,” the insurtech firm noted in a recent report. “Casualty hardening from social inflation and larger jury verdicts is considered structural. Until that changes, liability’s share of the book should keep growing even without new business.”
The data for more than 1,000 Florida properties show that for Florida multifamily property insurance for all categories of structures and coverage, except condominiums, with primary and excess coverage included, the median premium per door has dropped from an early 2025 number of $797–almost double the rate in other Southeastern states–to $479 in April of this year.
Other Southeastern states have seen multifamily property rates drop in the last two years, if not as sharply. Georgia’s median rate has fallen from $430 18 months ago to $360 this spring, the data show. Texas’ median for property rates this spring was $516–up slightly from 2025.
Even as Florida and Georgia lawmakers adopted tort reform measures designed to tamp down litigation costs and large verdicts in recent years, liability premiums for multifamily units have fluctuated, the numbers indicate.
In Florida, the median liability premium per door rose slightly, from $167 18 months ago–the highest in the Southeast–to $169 this spring. At three months ago, the median rate per door had climbed to $215, although the sample size was small for the most recent measure.
Georgia saw its median move from $119 per door to $151. Other Southeast states saw slight increases. North Carolina has produced some of the lowest liability rates in the last two years.
Despite a number of well-publicized shootings at apartment complexes and businesses in some high-crime neighborhoods, and plaintiffs’ firms emphasis on crime statistics in some cases, liability rates do not seem to track with crime rates.
“Crime doesn’t move the price,” the Advocate report said.
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