|Fla. says auto insurance fix is lowering premiums|
|News - St Augustine Area & St Johns County|
TALLAHASSEE — Florida’s top insurance regulator says a contentious fix to auto insurance laws is driving down premiums.
Insurance Commissioner Kevin McCarty said Wednesday that a preliminary analysis shows a 13 percent decrease in no-fault Personal Injury Protection rates since legislators changed the law in 2012. Overall auto insurance premiums for the state’s top 20 companies have gone down 1.2 percent so far.
Florida legislators passed the state’s no-fault insurance law in the early 1970s. The law provides that a driver’s insurance company pay up to $10,000.
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