Florida’s top five auto insurance companies have told state officials they are already indicating an -8% rate change for 2026, with one group even indicating an -16.5% rate change.
“The historic legislative reforms continue to drive auto insurance rates down—with nearly 80% of Florida’s auto policyholders seeing lower rates for 2026,” said Florida Insurance Commissioner Mike Yaworsky.
Florida’s top five auto insurance companies have told state officials they are already indicating an -8% rate change for 2026, with one group even indicating an -16.5% rate change
Analysts are saying the state’s auto insurance market is continuing to show signs of improvement with GOP lawmakers giving credit to the tort reform legislation that was passed by lawmakers during the 2022-23 legislative session
Commissioner Mike Yaworsky praised the reductions, which reflect growing stability in the market following recent legislative reforms.
The state’s 5 largest auto insurance groups, Progressive, Berkshire Hathaway (GEICO), State Farm, Allstate, and USAA, make up roughly 78 percent of Florida’s auto insurance market. Together, those companies are projecting lower rates for most policyholders, with some filings showing reductions as high as 16.5%.
Florida’s Chief Financial Officer Blaise Ingoglia noted that state regulators continue working with insurers to identify additional opportunities for rate relief.
Several major insurers have already announced direct financial benefits for customers. Progressive reported nearly $1 billion in credits to policyholders, while State Farm announced a dividend totaling roughly $533 million for Florida drivers. Other companies, including GEICO, USAA, Allstate, and AAA, have also implemented rate reductions affecting hundreds of thousands of drivers across the state.
Data from the Florida Office of Insurance Regulation also shows broader improvements in the market. Florida recently recorded the lowest personal auto liability loss ratio in the country, and physical damage loss ratios have dropped significantly over the past several years, a shift that moved the state from near the bottom nationally to ninth place in 2025.
