Governor Ron DeSantis announced that Florida’s auto insurance market is showing significant improvement following 2023 reforms, with litigation down and major carriers like State Farm and Progressive issuing refunds and lowering rates for policyholders.
According to CBS News Miami, Florida’s auto insurance industry is experiencing a sharp turnaround driven by the 2023 reforms signed by Governor DeSantis, which targeted lawsuit abuse and market instability. The Office of Insurance Regulation reported that for 2025, the state’s top five auto insurance groups—which represent 78% of the market—are implementing an average –6.5% rate reduction, down from +4.3% in 2024 and +31.7% in 2023. CBS News noted that these improvements reflect the success of DeSantis’ legislative agenda in restoring consumer affordability and insurer confidence in Florida’s market.
According to Yahoo Finance, Progressive Corporation reported a $950 million policyholder credit expense in September 2025, citing Florida’s 2023 insurance reforms as the main driver behind improved profitability. In a recent SEC filing, Progressive said, “Since Florida insurance reform was enacted in early 2023, we have seen lower loss costs on certain types of personal auto accident claims and favorable reserve development.” The company estimates that about 2.7 million Florida policyholders will receive credits by December 2025, underscoring how DeSantis’ reforms are directly benefiting consumers through reduced premiums and refunded profits.
Fox 13 News reported that State Farm, Florida’s largest private auto insurer, has filed for an average 10% rate cut for 2025—its most significant reduction in over a decade. The Florida Office of Insurance Regulation confirmed that similar decreases are occurring across the state’s largest auto insurers, marking the first widespread premium decline since 2016. Fox 13 News attributed the downward trend to Florida’s 2023 tort reform package, which reduced litigation costs by 23% year-over-year and helped insurers stabilize pricing after years of heavy legal and claims expenses.
According to the official Office of the Governor of Florida, Governor DeSantis has prioritized strengthening the state’s insurance market through targeted tort and regulatory reforms. His administration enacted comprehensive legislation designed to reduce frivolous lawsuits, encourage competition, and protect consumers from premium spikes. DeSantis continues to advance initiatives like the My Safe Florida Home program, which helps homeowners fortify properties against storms and lower insurance costs statewide.
