The most probable causes are-
1) Microbubbles sticking to the sensor, the sensor only detects air vs water, if the water stops exactly at the float, this is the most likely culprit. Rinse the sensor well and make sure it is clean and free of any algae or mineral deposits, use only vinegar (minerals, coralline algae) or detergent and water (algae and general "dirt") and a soft towel.
2) A siphon, if the water level stops randomly and may be past the float and the problem is worse when the reservoir is full, this is the main culprit. The hose terminus must be above the water level in the reservoir, if the reservoir has 18" of water, where ever the hose ends it must also be at least 18" high, otherwise the difference will be able to siphon in.