Rate decreases announced by Florida’s top five auto insurers. Here they are.

Car insurance rates are falling in Florida, thanks to improved company profits and lower costs from reforms aimed at ending excessive litigation.

Dating to late 2024, the state’s five largest auto insurance groups have all asked Florida’s insurance regulators to approve rate reductions for their various lines of business, a review of rate filings by the South Florida Sun Sentinel shows.

Last week, Gov. Ron DeSantis attributed the reductions — averaging 6.5% among the state’s five largest auto insurers — to the same reforms enacted in 2022 and 2023 that are credited with stabilizing home insurance rates in the state.

Among other changes, the reforms prevented windshield-replacement companies from requiring customers to sign over the benefits of their insurance claims. Insurers contended that contractors would use the signed-over benefits to sue insurers and collect legal fees that far exceeded the costs to replace broken windshields.

DeSantis vowed to keep the reforms in place amid efforts by some lawmakers to reinstate legal fees for plaintiffs who successfully challenge insurers’ initial claim settlement offers.

“The continued reduction in auto insurance rates is yet another sign that Florida’s reforms are working,” DeSantis was quoted as saying in a news release by the Florida Office of Insurance Regulation. “We will protect our reforms from those who seek to undo them and continue to fight for Floridians.”

Insurance Commissioner Mike Yaworsky echoed that statement. “I’m glad consumers will start feeling relief in their premiums soon. (The office) will continue to use every tool at its disposal to bring quality insurance products to the market at affordable prices.”

In contrast to the average 6.5% reduction requested this year, the same five insurance groups requested an average 4.3% rate increase in 2024 and an average 31.7% hike in 2023.

The office identified the top five insurance groups as Progressive, Geico, State Farm, Allstate and United Services Automobile Association (USAA). Together, they provide insurance to 78% of the Florida market, the release said.

Progressive identified falling costs in two recent rate filings for its Progressive Select product.

Accompanying a request filed last December for an average 3% decrease, the company wrote: “After consecutive years of increasing (losses) requiring rate increases, we have observed material improvement in our expected (losses) across multiple coverages. We are reacting to this by reducing rates to reflect our expectation of this new, lower expected future loss cost for the state.”

Then on July 25, the company requested a larger decrease of 8.6% for Progressive Select. The company wrote that loss declines have continued, particularly in claims for bodily injury, personal injury protection, and uninsured motorist bodily injury.

The release stated that the office has approved requests for approval of 46 rate decreases from more than 30 companies so far this year.

It’s part of a national trend, the release said. “Nationally, the personal auto insurance industry is experiencing the best underwriting results in years with multiple insurers loosening underwriting requirements,” it said.

In Florida, the rate decreases are driven by improved underwriting results, reduced claim costs, and the 2022-23 reforms, according to the release.

Here are some of the requested rate decreases by Florida’s five largest insurance groups. Decreases are followed by company names and the dates the decreases will take effect:

Progressive

— 3%, Progressive Select, Dec. 13, 2024

— 8.6%, Progressive Select, July 31

— 7.4%, Progressive American, Jan. 16

— 8%, Progressive American, June 27

Geico

— 2.1%, Geico Insurance and Geico General, Feb. 6

— 2.2%, Geico Indemnity, Feb. 6

Allstate

— 4%, Allstate Indemnity and Allstate Insurance, July 26

— 3%, Allstate Property and Casualty, July 26

USAA

— 0.41%, USAA Insurance, June 16

— 0.5%, USAA Casualty, June 16

— 0.87%, USAA General Indemnity, June 16

State Farm

— 6%, State Farm Mutual, March 3

— 2.2%, State Farm Fire and Casualty, March 3

— 4.4%, State Farm Mutual, Aug. 25

— 2.2%, State Farm Fire and Casualty, Aug. 25

State officials also urged auto insurance customers to shop around.

It quoted a LexisNexis report as saying that auto insurance shopping increased by 16% in the first quarter of 2025 compared to the same quarter a year earlier. More shopping promotes more competition, which can lead to better rates, the release said.

Ron Hurtibise covers business and consumer issues for the South Florida Sun Sentinel. He can be reached by phone at 954-356-4071 or by email at [email protected].

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