GEICO Files Two Additional Auto Rate Decreases in Florida, Lowering Premiums for More Than 1.3 Million Drivers

TALLAHASSEE, Fla.--(BUSINESS WIRE)--GEICO recently filed two rate decreases that will lower auto insurance premiums for more than 1.3 million Florida customers. Over the past two years, GEICO has reduced annual premiums for Florida drivers by more than $500 million through multiple rate decreases – including an April 2026 reduction affecting more than 700,000 customers.

“Florida’s insurance market continues to show sustained improvement, and we’re committed to making sure our customers feel that improvement directly in what they pay.” - Yang Yu, GEICO’s chief insurance product officer

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As Florida's second-largest auto insurer, GEICO has now reduced Florida auto insurance rates three times in the past year alone, reflecting its commitment to keeping coverage affordable for Florida drivers.

“GEICO is pleased to pass these savings on to our customers through additional rate decreases,” said Yang Yu, GEICO’s chief insurance product officer. “Florida’s insurance market continues to show sustained improvement, and we’re committed to making sure our customers feel that improvement directly in what they pay.”

These decreases come as Florida’s insurance market continues to stabilize following legal system reforms that have created a more predictable underwriting environment. While the state still faces unique challenges – including severe weather, increased accident severity, and ongoing inflationary pressures – those reforms have played an important role in controlling costs and improving affordability for drivers. GEICO looks forward to continued engagement with policymakers and regulators to further strengthen Florida's insurance market.

Celebrating its 90th anniversary this year, GEICO has built nine decades on a simple promise: great service and real savings. GEICO has served Florida drivers for more than 30 years, with offices throughout the state – including in Tampa, Lakeland and Jacksonville – and approximately 4,400 employees statewide.

The company continues to invest in Florida and to grow its workforce across the state, including at its new Tampa office, which officially opened this year. Those efforts are matched by long-term partnerships across Florida sports, including the NFL's Tampa Bay Buccaneers and Miami Dolphins, the NHL's Tampa Bay Lightning, and NCAA programs at the University of Florida and the University of Central Florida. Community activations in Tampa and Orlando later this year further reinforce the company's investment in the state and build lasting trust in the GEICO brand. These latest rate decreases reflect GEICO's continued commitment to delivering value to Florida customers.