"First, although state law requires that insurance companies determine whether excess profit was collected over three policy years, Progressive said the law also stipulates that only customers with active policies on Dec. 31, 2025, will qualify for the credit. That means that anyone who was with Progressive in 2023 and 2024 but switched to a different company in 2025 won't qualify. The company insures about 2.7 million Florida drivers."
""The amount of the credit will depend on what drivers paid for their policies - and how much excess profit in Florida is identified by the company at the end of the year, Sibel said. "The actual credit amount for each policyholder will vary in proportion to each auto policy's earned premium during calendar year 2025 and will depend on final year-end financial results for 2025," he said."
"And whether policyholders receive the credit in the form of a check or a renewal discount will depend on how they paid - or are paying - their premiums, Sibel said. "Active Florida policyholders as of 12/31/25 will not need to take any action to receive a credit in 2026," he said. "If an eligible policyholder has an outstanding balance or renewal payment due, they will receive a credit on their statement. If the eligible policyholder has no balance due,"
Progressive will return roughly $950,000 in excess profits collected from Florida auto-insurance policyholders over the past three years, with an average credit near $300. Eligibility requires having an active Progressive auto policy on Dec. 31, 2025, so customers who left during 2025 will not qualify. The credit amount for each policyholder will vary based on the policy's earned premium during calendar year 2025 and on final 2025 year-end financial results. The form of the payback — a statement credit, renewal discount, or check — will depend on how premiums were paid and any outstanding balances.
Read at Sun Sentinel
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