Progressive – Pictured: Car insurance form & key on table — Courtesy: Shutterstock — Africa Studio
Sarasota, FL. – Due to litigation reform in the state, Progressive auto insurance policyholders in Florida should receive a rebate or credit, according to Florida Governor Ron DeSantis. Those who are insured by other firms may also notice savings soon.
That statement was made by the governor at a press conference in Sarasota on Wednesday morning.
By the numbers: According to DeSantis, auto insurance was the most expensive consumer staple in the country in 2024, rising 20%.
READ: The quest for answers in Florida’s home insurance problem
According to him, rates for Florida’s top five auto-writer insurance firms have decreased by an average of 6.5% in 2025.
According to DeSantis, those rates are probably going to drop even more in the future.
He claimed that a decrease in litigation costs is one factor contributing to the decreased expenditures. He claimed that virtually immediately following the implementation of the 2022–2023 changes, their costs decreased.
Refunds should be given to customers, according to DeSantis.
DeSantis announced on Wednesday that nearly $1 billion in credits had been obtained for policyholders of Progressive Auto Insurance.
“The savings that we’ve seen because of the litigation reforms now means they are going to be giving to you,” stated the governor. “Your length of time with Progressive may determine whether you receive a larger refund. It might be a check. Although it might appear as a credit on your account, the average Florida policyholder will receive a $300 Progressive rebate.
Commissioner Michael Yaworsky of the Florida Office of Insurance Regulation is in talks to follow suit with other insurance firms by January 1, 2026, DeSantis continued.
“This rebate of almost $1B is on top of, they just filed again for even more reduction,” DeSantis said. “So, they’re 10, 15, maybe 20% down as this whole year goes on for their policy holders and then you’re going to be getting almost $1B back with this.”
Progressive Insurance stated in an SEC filing, according to DeSantis, “That since Florida’s insurance reform was enacted, we’ve seen lower lost costs on certain types of claims and favorable reserve deployment, and we’ve experienced strong in Florida personalized auto business.”
According to DeSantis, Florida’s demography, poor driving, and legal issues used to make insurance firms reluctant to operate there.
Reform of homeowner’s insurance in Florida
According to DeSantis, the state covered 78 percent of litigation expenses but only 8% of claims nationwide for homeowner’s insurance.
According to DeSantis, since January 2024, 33 homes insurance firms have applied for a rate reduction, while 46 companies have asked for no change or a zero percent reduction.
According to DeSantis, Peninsula is one of the biggest insurers in the state, and it asked for the biggest cut to the company’s premiums in recent memory, which would be 12% for condo owners and 8.4% for homeowners.
He said that Florida’s 1% homeowner rise in 2024 was the lowest in the country.
What they’re saying:
“We now have, since these reforms were passed, 17 new companies are now operating in Florida, so they’re bringing capital in, and they are offering new policies,” said the governor.
“You’re getting $1B back from an auto insurance company because of those reforms,” DeSantis stated. “That’s the only reason that is happening.”
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Mike has more than 30 years of experience in marketing and public relations. He once owned his own agency and has worked with some of the largest brands in the world.
