Florida motorists now pay the most for their auto insurance

Auto insurance - Florida welcome sign

Though Michigan had been the most expensive state for coverage, Florida drivers now shell out more.

Drivers in Florida have a new reason to groan over the cost of vehicle ownership in the state, as the cost of auto insurance there is now more expensive than anywhere else in the country.

Everything from the price of gas to the cost of vehicle repairs is on the rise, and so is coverage.

The cost of auto insurance is increasing across the United States. Florida certainly isn’t alone in that. What has distinguished the state among others though, is that it the average annual premiums there are higher than they are in any other state. Though there are many different individual factors that determine how much a driver will pay for a policy, Insure.com statistics show that on average Florida motorists pay more than an average driver in other states.

Auto insurance - Money - Cars on road

The average insured Floridian driver spends about $213 per month in premiums. The Orlando region’s average is about $216. Still, no matter where a driver is in Florida, they will pay about 52 percent more than the national average. The average across all US states is about $140 per month.

Many experts in the industry point to the “no-fault” status of the state for the expensive auto insurance.

According to Insure.com executive director Laura Longo, because Florida is a no-fault state, the added associated expenses have driven it from third most expensive to the most expensive state in the country.

“No-fault states like Michigan and Florida typically have a lot higher insurance rates,” said Longero, adding that the issue is compounded by a higher-than-average percentage of drivers who are uninsured. “Rates are higher for younger drivers and senior drivers, and Florida has higher populations of those two groups as well as more tourists.”

Insurance Information Institute (III) spokesperson Mark Friedlander said that while those are important factors, there are other issues unique to Florida that make it a particularly expensive place to buy coverage.

“Florida always seems to be a national leader in fraud,” said Friedlander. “We’ve always had a very high level of auto insurance fraud.”

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.