State Farm Florida Insurance Company is introducing a 12.1% rate decrease for its Florida personal inland marine program, covering items like jewelry, fine art, and collectibles. The update applies September 15, 2026 for new business and November 1, 2026 for renewals.

The filing reflects updated loss experience and actuarial projections, with the company pointing to improved performance and a need to keep pricing competitive. This follows a larger 17.9% decrease implemented in 2022, suggesting continued favorable trends in the book.

The changes also include revisions to jewelry rating zones, with some areas seeing increases while others decline. For example, certain coastal and higher-risk zones will see base rate increases of about 16.4%, while many inland zones will see reductions of up to 11.5%.

“The changes detailed in this filing reflect our best efforts to recognize our actuarially suggested income needs and have premiums that are as competitive as possible.”

Beyond pricing, the update simplifies how jewelry coverage is calculated by removing incremental factors tied to each additional $100 of insured value. The program continues to offer broad “all risk” coverage for personal articles, along with optional features like inflation protection and flexible payment plans.

Overall, the filing signals stable to improving loss trends in the inland marine segment, with State Farm leaning into rate reductions while fine-tuning geographic pricing differences.