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flag State Farm cuts Florida auto insurance rates by 10%, its fourth reduction in a year, due to lower litigation and claims.

flag State Farm has announced a 10% rate reduction for auto insurance in Florida, its fourth cut in a year, lowering average premiums by over 20% since October 2024. flag The move, attributed to reduced litigation and improved claims stability, reflects broader market shifts. flag While State Farm will not issue refunds, the reduction is part of a trend among insurers, though Progressive is setting aside $950 million in potential excess profits. flag The changes come amid state regulations requiring fair and competitive rates.

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