| Carrier | 2026 Decrease | Notes |
|---|---|---|
| AAA Get a quote → |
−15.0% | Three separate approved decreases over the past year — largest cumulative cut among major FL carriers. |
| State Farm Get a quote → |
−10.1% | Multiple approved OIR decreases since 2024. Separate $533M dividend to FL policyholders (~$173/vehicle). |
| Progressive Get a quote → |
−8.0% | Separate $1B refund issued to FL policyholders. Rate decrease is additional and ongoing at renewal. |
| USAA Get a quote → |
−7.0% | Effective May 2026. Military members and immediate family only. $125M+ in estimated annual savings statewide. |
| Allstate Get a quote → |
−7.0% | Approved for over 171,000 Florida drivers at renewal. |
| GEICO Get a quote → |
— | Confirmed decrease rolling out to 700,000+ FL customers starting April 2026. Exact percentage not publicly filed with OIR at time of publication. |
These are approved Florida OIR filings — not estimates. 42 carriers in total have filed decreases in the past year, covering 78% of Florida's auto market. One carrier outside the top five has indicated a reduction of 16.5%, the largest single filing in the current cycle.
Why is this happening?
For years, Florida drivers absorbed some of the most aggressive rate increases in the country. Litigation abuse, assignment-of-benefits fraud, hurricane losses, and skyrocketing reinsurance costs made Florida one of the most expensive auto insurance markets in the US. That dynamic has reversed.
Legislation passed in 2022 and 2023 has sharply reduced insurance litigation in the state — filings have fallen more than 35% since 2021. Those legal cost savings are flowing directly into rate reductions, and the Florida Office of Insurance Regulation has been approving decreases at a steady pace.
The loss ratio context: In 2025, Florida ranked first in the nation for the lowest personal auto liability loss ratio at 52.5% — the lowest recorded in 15 years. Carriers are highly profitable in Florida right now. That's exactly what enables aggressive rate competition. This isn't charity — it's carriers competing for a market that's become attractive again.
Why your renewal might not reflect this yet
Rate decreases apply at renewal, not mid-term. If your policy renewed before your carrier's decrease took effect, you're still paying the old rate until your next renewal date. The only way to capture savings now is to get competing quotes — your current carrier's renewal notice shows their rate for your current coverage, not what others would charge for the same coverage today.
What's still uncertain
Vehicle repair costs continue to climb as cars become more technologically complex. Whether litigation savings permanently outpace repair inflation is the key medium-term question. Not every carrier has filed decreases — smaller carriers may lag or hold flat. And Florida's average premium remains among the highest in the country even after reductions. Shopping is the only way to know where you actually stand.