Gov. Ron DeSantis made a big announcement on Monday at Broward College in Davie, saying that after several years of homeowners dealing with rising insurance costs, they will now be getting some much-needed relief.

The big headline is lowering premiums and reducing rates. DeSantis said that in 2022, the top three counties in the state – Miami-Dade, Broward and Palm Beach – had the most litigations.

Since then, and due to the tort reform, which aims to reduce insurance costs for Florida consumers, the numbers have dropped dramatically. And Citizens Insurance, known as the insurer of last resort, which almost lost 1 million policies last year, will be reducing their rates.

"Here in South Florida, Dade, Broward and Palm Beach, average reduction will be 13.4%," DeSantis said. "This area was a center of the litigation abuse. Right here in Broward, 27,000 homeowner average reduction 14.1%. Miami-Dade, 42,000 homeowners seeing an average reduction of 14%."

In Monroe County, there will be an 11.3% reduction, and for those who only have wind insurance will see a reduction, but not an increase.

DeSantis also mentioned there are 17 new insurance companies now in the state of Florida.

As so car insurance, there will also be some reductions. Progressive will be refunding $1 billion to customers by January 15.

And because of this reform, Uber will also be lowering their cost in Florida.

So, when will you see those reductions? DeSantis said keep an eye out, because it depends. If you have Citizens Insurance, it could come in April. And if you have a private insurance company, it depends on your renewal.