Florida Office of Insurance Regulation Announces Lower Auto Insurance Rates Thanks to Florida's Insurance Reforms
Florida’s Top 5 Auto Writer Insurance Groups Indicate an Average -6.5% Rate Change in 2025
TALLAHASSEE, Fla.—Insurance Commissioner Mike Yaworsky today is announcing a decline in auto insurance rates for Florida. For 2025, Florida’s top five auto writer insurance groups are indicating an average -6.5% rate change, down from an average +4.3% in 2024 and a staggering average of +31.7% in 2023. The top five auto writer insurance groups amount to 78% of Florida’s auto market. In addition, to optimistic auto rate changes, Florida is reporting a remarkable reduction in the personal auto liability loss ratio, down to a 53.3% on average in 2024—the lowest in the nation. These improvements are largely due to historic legislative reforms championed by Governor Ron DeSantis.
“The continued reduction in auto insurance rates is yet another sign that Florida's reforms are working," said Governor Ron DeSantis. "We will protect our reforms from those who seek to undo them and continue to fight for Floridians.”
Chief Financial Officer Blaise Ingoglia said, “Thanks to Governor DeSantis and recent strong legislative reforms, Florida’s auto insurance market is turning the corner. When the top insurers in the state are cutting rates by up to 11.5 percent, that’s not just a statistic, it’s money back in the pockets of Florida residents. As CFO, I will continue working closely with OIR and Commissioner Yaworsky to ensure accountability, transparency, and affordability across Florida’s insurance markets.”
Commissioner Mike Yaworsky said, “We are seeing steady signs of auto insurance rates dropping in Florida. Thanks again to effective legislative reforms, Florida’s auto insurance market continues to improve. Florida’s top five auto insurance groups—amounting to 78% of the market—are reporting average rate changes of -6.5% and some as high as -11.5%. This is great news, and I’m glad consumers will start feeling relief in their premiums soon. OIR will continue to use every tool at its disposal to bring quality insurance products to the market at affordable prices.”
 The indicated rate change for Florida’s top five auto insurance groups dropped over 120% since 2023. One of the insurance groups is reporting possibly up to a -11.5% rate change. Commissioner Yaworsky has approved 46 filings from over 30 companies for a rate decrease so far this year. Nationally, the personal auto insurance industry is experiencing the best underwriting results in years with multiple insurers loosening underwriting requirements. Along with underwriting results, improved loss ratios and Florida’s historic law changes are driving the decline in rates.
The state’s recent insurance reforms continue to show positive impact for consumers. Florida’s auto insurers are reporting a personal auto incurred loss ratio of 57.5% in 2024, the nation’s fifth-lowest. This is significantly lower than previous years—down 73.2% in 2023 and 89.7% in 2022. This improvement is mostly seen in reduced litigation, thanks to Florida’s historic legislative reforms. Auto liability fell from 80.5% in 2022 to 74.5% in 2023 and now down to 53.3% in 2024—the lowest in the nation.
It is important for consumers to shop around for auto insurance. There are reports of longer-tenured consumers shopping for new auto insurance instead of relying on one company for several years. According to a recent LexisNexis report, auto insurance shopping grew 16% year-over-year in Q1 of 2025 and 46% of polices-in-force were shopped at least once in the past year. This increased activity promotes more competition in the market and can cause better rates.
For highlights on Florida’s insurance market, click here.
About the OIR
The Florida Office of Insurance Regulation (OIR) has primary responsibility for regulation, compliance, and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about OIR, please visit our website or follow us on X @FLOIR_comm.
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