Allstate submitted a Florida rate filing for its private passenger auto program, proposing an overall 7% decrease across the book, driven by revisions to rate adjustment factors rather than base rate changes.
The filing impacts approximately 318,000 policyholders and $561.7 million in premium, with consistent decreases of -7.4% across major coverages including bodily injury, property damage, PIP, collision, and comprehensive. Fixed expense components remain unchanged.
The rate reduction is not tied to a traditional loss-based indication. Instead, Allstate notes that the program—launched in 2025—lacks sufficient credible loss experience, leading the company to rely on model-driven pricing and business considerations.
Territorial pricing continues to be based on a gradient boosting model, with plans to later transition to a credibility-weighted approach combining modeled factors and emerging loss experience.
The updated rates are scheduled to take effect April 7, 2026 for new business and May 1, 2026 for renewals.
In short, this is a model-driven rate reduction in a relatively immature book—lower prices without traditional actuarial support, relying instead on predictive modeling and strategic positioning.
