Florida’s five largest personal auto insurers are signaling an average rate reduction of 6.5%, according to the Florida Office of Insurance Regulation.
The regulator attributed the shift to recent legislative changes targeting legal and claims abuses in the state.
The actual rate filings from the top carriers reflect a 5.9% average decrease. One insurer submitted a request for an 11.5% cut (see US Auto Insurance Rates by States).
These companies represent 78% of Florida’s auto insurance market. This marks a sharp contrast to the 4.3% average increase seen in 2024 and the 31.7% jump recorded in 2023.
Lawmakers in Florida recently passed several bills that reshaped the state’s insurance environment.
The new laws eliminated one-way attorney fees, banned the assignment of benefits, and shortened claims filing deadlines.
These measures contributed not only to falling premiums but also to improved financial performance among carriers.
Florida reported a 2024 personal auto liability loss ratio of 53.3—the lowest in the country. The state’s overall personal auto incurred loss ratio reached 57.5, ranking it fifth lowest nationwide, according to the same regulatory data.
Litigation has also slowed. Personal injury lawsuits dropped 25% during the first half of 2025, based on figures cited in a July 16, 2025, report by BestWire.
Top insurers cutting rates up to 11.5% is a tangible benefit for Florida residents. I’ll continue to work with OIR and Commissioner Michael Yaworsky to maintain transparency, accountability, and affordability across the market.
CFO Blaise Ingoglia
The downward trend in auto insurance follows similar improvements in the property insurance sector.
Reforms targeting fraudulent activity and legal exploitation—particularly around the assignment of benefits—have curbed systemic abuse, according to Mark Friedlander, senior director of media relations at the Insurance Information Institute.
A new law barring assignment of benefits for windshield repairs led to an 80% year-over-year drop in glass claim lawsuits.
For years, bad actors targeted drivers at gas stations, car washes, and parking lots, offering gift cards in exchange for signing over windshield claims
Mark Friedlander, senior director of media relations at the Insurance Information Institute
“When insurers rejected these padded claims, they were hit with lawsuits. Florida saw a record 46,000 such lawsuits in 2023, up from 37,000 in 2022,” Friedlander said.
