TAMPA, Fla. (WFLA) — Florida’s insurance coverage commissioner, Mike Yaworsky, introduced Tuesday that auto insurance coverage charges within the state are dropping.
In line with Yaworsky, Florida’s prime 5 auto author insurance coverage teams are indicating a mean discount of 6.5% this 12 months.
The charges are down from 2024’s common enhance of 4.3% and 2023’s staggering enhance of 31.7%, Yaworksy mentioned.
The state can be reporting a discount within the private auto legal responsibility loss ratio. Leaders mentioned it’s the lowest within the nation.
“The continued discount in auto insurance coverage charges is one more signal that Florida’s reforms are working,” mentioned Gov. Ron DeSantis. “We are going to defend our reforms from those that search to undo them and proceed to battle for Floridians.”
The state mentioned it is crucial for shoppers to buy round for auto insurance coverage to make sure they get the most effective charge.
“There are stories of longer-tenured shoppers searching for new auto insurance coverage as a substitute of counting on one firm for a number of years,” the state mentioned.
To be taught extra about Florida’s insurance coverage market, click here.
