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Florida Drivers Pocket $1 Billion in Auto Insurance Savings
1 Nov
Summary
- State Farm, Florida's 3rd largest insurer, cuts rates by 10%
- Follows $1 billion rebate from Progressive, state's largest insurer
- Savings attributed to 2022 tort law changes reducing litigation
As of November 1st, 2025, Florida drivers are set to benefit from significant auto insurance savings. State Farm, the state's third-largest auto insurer, has announced an average 10% reduction in rates for its policyholders. This reduction, combined with previous cuts, amounts to a total of $1 billion in savings for State Farm customers.
The rate drop is partly attributed to 2022 state tort law changes that have reduced litigation against insurers. This follows a similar $1 billion rebate announced by Progressive, the state's largest auto insurer, which was highlighted by Governor Ron DeSantis a week earlier.
While State Farm's reductions are not the result of state insurance regulators ensuring that auto insurers' profits do not exceed statutory limits, the company's officials stated that the changes in tort laws have reduced the number of lawsuits policyholders have filed over claims disputes, thus lowering litigation expenses. State Farm hopes to build on this momentum and continue working towards further improvements in the marketplace on behalf of all its Florida customers.
