{"id":295076,"date":"2026-06-03T22:55:11","date_gmt":"2026-06-03T22:55:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/295076\/"},"modified":"2026-06-03T22:55:11","modified_gmt":"2026-06-03T22:55:11","slug":"florida-auto-insurance-rates-dropping-after-2023-reforms","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/295076\/","title":{"rendered":"Florida auto insurance rates dropping after 2023 reforms"},"content":{"rendered":"<p class=\"text | article-text\">SARASOTA, Fla. (<a href=\"https:\/\/www.mysuncoast.com\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.mysuncoast.com\/\">WWSB<\/a>) &#8211; Florida\u2019s auto insurance market is stabilizing, resulting in rate decreases for drivers across the state.<\/p>\n<p class=\"text | article-text\">Legislative reforms passed in 2023 addressing legal system abuse and assignment of benefits for windshield replacement are making significant impacts in Florida\u2019s auto insurance market. In 2025, Florida recorded the lowest personal auto liability loss ratio in the nation at 52.5 percent, the state\u2019s lowest in 15 years. The market\u2019s physical damage loss ratio also fell to 49.5 percent, reflecting a steady decline from 112 percent in 2022.<\/p>\n<p class=\"text | article-text\">Florida\u2019s five largest insurance groups \u2014 Allstate, GEICO, Progressive, State Farm and USAA \u2014 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.<\/p>\n<p class=\"text | article-text\">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.<\/p>\n<p class=\"text | article-text\"><a href=\"https:\/\/www.mysuncoast.com\/2026\/05\/27\/three-new-insurers-enter-florida-market-days-before-hurricane-season\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.mysuncoast.com\/2026\/05\/27\/three-new-insurers-enter-florida-market-days-before-hurricane-season\/\">Three new insurers enter Florida market days before hurricane season<\/a><\/p>\n<p class=\"text | article-text\">\u201cThis is great news for Florida drivers because we are seeing rate decreases across the board here,\u201d Friedlander said.<\/p>\n<p class=\"text | article-text\">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.<\/p>\n<p class=\"text | article-text\">\u201cThe bottom line is Florida is a very competitive auto market,\u201d Friedlander said. \u201cCompanies are looking to grow market share, and it\u2019s worth taking the time because there could be significant differences in the cost of coverage.\u201d<\/p>\n<p class=\"text | article-text\">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.<\/p>\n<p class=\"text | article-text\">While windshield claim fraud has declined significantly because of legislative action, staged accidents and medical claim fraud remain problems in Florida.<\/p>\n<p class=\"text | article-text\">\u201cAll of us in Florida, every driver pays for fraud schemes,\u201d Friedlander said.<\/p>\n<p class=\"text | article-text\">The Florida Department of Financial Services has an investigative unit working to crack down on fraud, leading to numerous arrests.<\/p>\n<p>Copyright 2026 WWSB. All rights reserved.<\/p>\n","protected":false},"excerpt":{"rendered":"SARASOTA, Fla. (WWSB) &#8211; Florida\u2019s auto insurance market is stabilizing, resulting in rate decreases for drivers across the&hellip;\n","protected":false},"author":2,"featured_media":295077,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[124361,124362,124360,28,13638,30,43865,29],"class_list":["post-295076","post","type-post","status-publish","format-standard","has-post-thumbnail","category-florida","tag-2023-insurance-reforms","tag-auto-insurance-fraud-florida","tag-car-insurance-rate-decreases","tag-florida","tag-florida-auto-insurance-rates","tag-florida-headlines","tag-florida-insurance-market","tag-florida-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/295076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=295076"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/295076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/295077"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=295076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=295076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=295076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}