GEICO announces additional auto rate reductions in Florida; cites progress from legal system reforms

GEICO announced today that it will further reduce auto insurance rates for Florida drivers, citing continued stabilization in the state's insurance market following legal system reforms enacted in 2023.

Over the past two years, GEICO has implemented multiple rate decreases across all GEICO companies, lowering annual premiums by more than $350 million. The latest reduction, which takes effect in April 2026, will lower auto insurance rates for more than 700,000 Florida customers. Nearly all GEICO customers in Florida have experienced some level of rate relief over the past two years.

"As Florida's second-largest auto insurer, we're encouraged by the positive changes in the insurance market following recent legal system reforms," said Amanda White, GEICO's head of insurance product management. "Those steps have helped create a more stable market, allowing us to better serve our growing customer base with competitively priced insurance products."

GEICO remains committed to serving Florida customers and supporting efforts that promote long-term market stability. This includes reforms led by Florida's governor and the Office of Insurance Regulation that have helped curb legal system abuse and reduce costs for drivers. While Florida continues to face unique challenges – such as severe weather, increased accident severity, and ongoing inflationary pressures – these reforms have played an important role in controlling insurance costs. GEICO looks forward to continued engagement with policymakers and regulators to further strengthen Florida's insurance market.