Diamond Luxe Concierge Services owner: Florida Peninsula Insurance proposing 'significant premium decrease' later this year

Tarji Vance, owner of Diamond Luxe Concierge Services, announced that Florida Peninsula Insurance is seeking approval to reduce premiums for homeowners and condominium owners. This potential reduction would be the company's largest to date. The announcement was made on LinkedIn.

"Florida Peninsula Insurance is proposing an average decrease of 8.4% for homeowners' premiums and a significant 12% reduction for condominium owners statewide," said Vance, Business Owner, according to LinkedIn. "This initiative will result in a notable cost-saving opportunity for the majority of the company's clients. A significant premium decrease expected later this year or in early 2026. This reduction would mark the insurer's largest rate cut to date."

For the first time in nearly a decade, Florida's property insurance market is showing signs of stabilization. According to AM Best's 2024 Market Segment Report, Florida's personal property insurers collectively posted an underwriting profit—the first positive result in eight years. This improvement is attributed to legislative reforms enacted in 2022, reduced fraudulent litigation, and an influx of reciprocal exchanges allowing policyholders to share risk. The return to underwriting profitability after years of losses indicates that regulatory changes are yielding results.

Axios reported in August 2025 that insurers have begun filing requests for rate decreases, with Florida Peninsula Insurance proposing an 8.4% statewide premium reduction—a rare reversal following years of double-digit increases. While the state's average homeowners' premium remains above the U.S. average, these filings represent a significant shift and could signal broader relief for consumers as more carriers stabilize financially. This trend reflects improved insurer performance and recent reforms reducing litigation costs.

Reciprocal insurance exchanges have significantly strengthened Florida’s insurance landscape by introducing fresh capital and competitive pressure. Conning reports that new reciprocals entering the Florida homeowners market brought approximately $1.7 billion in capital, enabling startups and existing insurer offshoots to assume policies from Citizens and support market depopulation efforts. This influx has provided alternative coverage options and bolstered market confidence by increasing financial capacity and policyholder retention.

Vance is a property management professional with over nine years of experience in hospitality and high-rise residential operations. She currently serves as General Manager at Essex Tower and owns Diamond Luxe Concierge Services, a property and lifestyle management company. Vance has previously held roles as Association Manager at The Edgewater Arms and Assistant Property Manager at Pompano Aegean Condominium, holding an associate degree in Business Administration from Broward College. Her career reflects expertise in property operations, crisis response, vendor negotiations, and compliance, making her a recognized figure in Florida’s real estate and property management community.