Tampa, Fla. (WFLA) – Florida drivers with progressive insurance can receive a check from a car insurance company immediately due to state law.
NBC’s affiliate WBBH reported that Progressive has exceeded the profit limit set by auto insurance companies’ state laws over the past three years.
Doug Nellands, an insurance company in Fort Myers, told the news station that customers must issue checks or credits since progressive exceeded the limit.
Florida announces car insurance premium decline
“There are regulatory safeguards in place to prevent excessive benefits,” Neras said. “Average car insurance is around $1,500 a year, so we’re talking about $150 to $200, so this is a path to relief.”
Neras said other insurers are “encouraged and somewhat mandatory” to follow progressive leads.
“We are beginning to see more and more airline files falling rates,” Nerns told WBBH.
The news station reported that Progressive could begin reimbursement checks or issuance of credits in the coming months.
