Florida drivers may soon see more relief on their auto insurance bills. According to a recent announcement from Florida Insurance Commissioner Mike Yaworsky, the state’s five largest auto insurance groups are currently indicating an average 8% rate decrease for 2026, signaling continued stabilization in Florida’s insurance market following historic legal reforms. 

The top five auto insurance groups—Progressive, GEICO, State Farm, Allstate, and USAA—represent roughly 78% of Florida’s auto insurance market. Early filings from these companies show that most policyholders could benefit from lower premiums next year, with one insurer indicating a potential 16.5% rate reduction.

State officials say these developments reflect the positive impact of recent legislative reforms aimed at reducing legal system abuse and bringing stability back to the insurance market.

Chief Financial Officer Blaise Ingoglia emphasized that Florida’s legal reforms have played a significant role in the downward trend in premiums:

“Once again, policyholders are saving money and benefitting from Florida’s historic tort reforms,” Ingoglia said. “Florida has laid out the blueprint for successful insurance reform, and we are continuing to see the difference it is making for Florida families and their wallets.”

Commissioner Yaworsky echoed that sentiment, pointing to the growing number of rate decreases being filed by insurers.

“The historic legislative reforms continue to drive auto insurance rates down—with nearly 80% of Florida’s auto policyholders seeing lower rates for 2026,” Yaworsky said. “Florida’s top five auto writers are already indicating an -8% rate change for 2026, with one group even indicating a -16.5% rate change.”

A Multi-Year Trend of Rate Relief

The latest projections follow a similar trend from the previous year. For 2025, the top five auto insurers requested an average 7.4% rate decrease across much of the Florida market.

Insurers have also begun providing direct financial relief to policyholders:

• Progressive reported nearly $1 billion in policyholder credits last fall.
• State Farm announced $533 million in dividends to Florida drivers—about $173 per vehicle on average—and has filed multiple rate reductions since 2024.
• GEICO recently announced rate decreases affecting more than 700,000 Florida customers, taking effect in April 2026.
• USAA is lowering rates by 7%, effective May 2026.
• Allstate reduced premiums by 4% for more than 13,000 drivers.
• AAA has implemented three rate reductions in the past year, lowering premiums by a combined 15%.

State regulators say improvements are also visible in key market indicators.

Florida ranked #1 nationally for the lowest personal auto liability loss ratio in 2025, at 52.5%, the lowest recorded in the state in the past 15 years. Physical damage loss ratios have also improved dramatically—dropping from 112% in 2022to 49.5% in 2025.

That shift helped Florida jump from 48th to 9th place nationally in auto physical damage loss ratios in just one year, a sign that the market is becoming more stable and sustainable.

For consumers, these developments represent more than just numbers on a filing sheet—they signal meaningful relief after years of rising insurance costs.

Florida’s experience demonstrates that legal system reforms can help stabilize insurance markets and ultimately reduce costs for drivers and families. As other states continue to struggle with rising premiums fueled by lawsuit abuse, Florida’s progress offers an example of how targeted reforms can deliver real results for consumers.

Protecting American Consumers Together will continue to highlight policies that reduce costs and restore fairness.