SARASOTA, Fla. (WWSB) – Florida’s auto insurance market is stabilizing, resulting in rate decreases for drivers across the state.
Legislative reforms passed in 2023 addressing legal system abuse and assignment of benefits for windshield replacement are making significant impacts in Florida’s auto insurance market. In 2025, Florida recorded the lowest personal auto liability loss ratio in the nation at 52.5 percent, the state’s lowest in 15 years. The market’s physical damage loss ratio also fell to 49.5 percent, reflecting a steady decline from 112 percent in 2022.
Florida’s five largest insurance groups — Allstate, GEICO, Progressive, State Farm and USAA — have filed for multiple rate decreases over the past 18 months, totaling double digits on average, said Mark Friedlander, senior director of media relations with the Insurance Information Institute. These five companies account for nearly 80 percent of the market.
More than 40 Florida auto insurers have filed for at least one rate decrease since January 2025, including major players such as Liberty Mutual and AAA.
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“This is great news for Florida drivers because we are seeing rate decreases across the board here,” Friedlander said.
Friedlander said there are multiple ways to shop for auto insurance. Drivers can use online consumer quoting sites to get multiple quotes simultaneously, work with a local independent agent who can shop numerous companies, or work with exclusive agents like Allstate and State Farm.
“The bottom line is Florida is a very competitive auto market,” Friedlander said. “Companies are looking to grow market share, and it’s worth taking the time because there could be significant differences in the cost of coverage.”
Auto insurers in Florida typically use more than a dozen rating factors, including driving record, ZIP code, age, credit history, type of vehicle and chosen coverages and deductibles. Insurers weigh these factors differently, which can result in significant price differences between quotes.
While windshield claim fraud has declined significantly because of legislative action, staged accidents and medical claim fraud remain problems in Florida.
“All of us in Florida, every driver pays for fraud schemes,” Friedlander said.
The Florida Department of Financial Services has an investigative unit working to crack down on fraud, leading to numerous arrests.
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Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.