In a news release on Thursday, State Farm said its latest rate cut would bring down premiums for its customers by an average of 10%.

The rates would take effect on Jan. 2 for new policies and March 14 for renewal policies.

Florida law requires auto insurers to return excess profits if their underwriting gains exceed anticipated underwriting profit, plus 5% of earned premium, over three years. 

The company announced the latest round of cuts a week after Gov. Ron DeSantis convened a news conference

https://www.sun-sentinel.com/2025/10/30/state-farm-files-10-rate-cut-for-auto-insurance-customers/