Allstate is introducing a rate update to its Florida condominium program, reflecting an overall decrease in the ~10% to 12% range. The filing was submitted on March 27, 2026, with changes scheduled to take effect on September 27, 2026.

The update applies to Castle Key’s homeowners condominium book and is driven by revisions to both hurricane and non-hurricane base rates, alongside updates to territorial relativities and fixed expense fees. The insurer emphasized that the adjustment is primarily achieved through base rate recalibration rather than structural changes to coverage.

At the factor level, the filing introduces revised hurricane and non-hurricane relativities across Florida territories, with updated ZIP code-level segmentation and a fixed expense policy fee of $30. Supporting materials reference updated loss trends, catastrophe modeling assumptions, expense provisions, and profit considerations.

The program remains closed to new business, with limited exceptions for reinstatements or cancel-rewrite scenarios within the same company.

Overall, the move points to improving loss experience or easing pressure in the condo segment, allowing Castle Key to reduce rates while maintaining its existing underwriting framework.