Florida’s Largest Auto Insurers Set 2026 Rate Cuts Averaging 8%

Overview

• - The five groups—Progressive, GEICO, State Farm, Allstate and USAA—represent about 78% of Florida’s auto market, regulators say.
• - OIR reports 2026 year-to-date rate filings averaging an 8% decrease as of February, after a combined 7.4% reduction was sought last year.
• - One of the top-five insurers has indicated a larger 2026 change of minus 16.5%, according to Commissioner Mike Yaworsky.
• - Loss ratios have improved sharply, with auto physical damage loss ratios falling from 112.0% in 2022 to 49.5% in 2025, OIR data show.
• - Insurers have issued targeted relief, including State Farm’s roughly 10% cut and Progressive customer credits, with additional reductions announced by GEICO, USAA, Allstate and AAA.