Progressive Insurance will distribute approximately $950 million in excess auto insurance profits to Florida policyholders, primarily through credits on 2026 policy renewals rather than direct refunds.

The distribution follows Florida law, which requires insurers to return profits exceeding established thresholds over a three-year period. With more than 2.7 million policyholders in the state, the average return is expected to be around $300.

Only customers holding active policies as of December 31, 2025, qualify for the distribution under Florida Statutes 627.066 and 627.915. Former customers who switched carriers during 2023 and 2024 will not receive refunds, according to the South Florida Sun Sentinel.

Most recipients will receive the money as credits applied to their renewal premiums. Customers with zero balances or credits exceeding their next payment will receive direct payments through their usual premium payment method. If a policy is canceled or terminated, the law requires cash refunds within 60 days.

Progressive disclosed the excess profits in a Securities and Exchange Commission filing earlier this year. Florida Insurance Commissioner Yaworsky and Governor Ron DeSantis have cited the company’s strong profits as evidence that 2022 and 2023 legislative reforms reducing litigation burdens have improved insurer financial health.

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