Top five insurance companies continue to reduce rates following recent 6.5% reduction across 78% of the auto insurance marketplace.
Florida Insurance Commissioner Mike Yaworsky said the state’s auto insurance market continues to see rate reductions from major carriers, which he attributed to legal reforms enacted over the past two years.
Yaworsky recently announced that the state’s five largest auto insurance groups, representing 78 percent of Florida’s auto insurance market, have had an average rate reduction of 6.5 percent,
Since that announcement, State Farm and AAA have reported significant rate reductions and Progressive is recording nearly $1 billion in credits to
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