GEICO introduced rate cuts for its Florida personal auto business, lowering rates by 4.9% for GEICO Advantage Insurance Company and 5.9% for GEICO Marine Insurance Company. The changes apply to new business starting April 28, 2026 and renewals starting June 15, 2026.

The largest reductions are in bodily injury, PIP, comprehensive, and collision coverage. Bodily injury and collision rates are dropping by around 10% to 12%, while PIP is also seeing meaningful cuts. Medical payments coverage is one of the few areas increasing.

GEICO said claims trends are improving in several areas, particularly PIP and uninsured motorist coverage. Even though bodily injury claims are rising across the industry, GEICO is still lowering rates, suggesting the company believes its own business is performing better than the broader market.

The filing also targets more preferred drivers. Customers with higher bodily injury limits will receive larger discounts than drivers carrying minimum limits. For example, drivers with 500/500 limits could see discounts of around 10%.

GEICO is also updating several rating factors, including household information, vehicle mix, financial responsibility tiers, and prior insurance history. The company is adding a new “Prior BI Tier” rule that considers the bodily injury limits customers carried with their previous insurer.