Research has shown that car coverage in the state costs up to 25 percent more than the U.S. average.
According to newly released data from Insure.com, drivers in Florida are still facing very expensive auto insurance, to the point that they are paying up to 25 percent more than the average across the rest of the country.
The report on the data analysis determined that Florida is the eighth most expensive state in the U.S.
The average amount paid for auto insurance premiums in Florida was $1,654. When compared to the American average for car insurance, that amount was $329 more per year. Moreover, the rates in the state had increased by 5 percent throughout the length of the twelve months that comprised the study. This Insure.com data is not alone in making this claim about the expensive auto policies in Florida. In fact, it has aligned quite closely with the data published by a number of other organizations, as well. That said, some research pointed out that the numbers can vary depending on where and how they are collected.
Another study called Florida the fifth most expensive state when attempting to purchase “cheap” auto insurance.
When looking into the lowest legally permitted policy in the states, Florida was found to be even more expensive when compared with the rest of the country, taking fifth place for most costly car insurance. The average for Florida in that case was $1,058 per year. It is important to keep in mind that the cost of auto insurance for any given driver can vary quite widely depending on where they live, what their driving history might be, what kind of car they are insuring, and other factors.
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In the Insure.com study, the comparison was made using the example of a 2015 Honda Accord. It determined that the rates in Sarasota, alone, could be as low as $823 per year or as high as $1,850 per year. The average rate was $1,266 per year. This all came down to the specific neighborhood, the driver and other related factors, as the car itself was the same throughout every example.
In Venice and Port Charlotte, the average auto insurance rate was slightly lower than Sarasota, as it was $1,152, but in Bradenton, it was the most expensive in that region, where drivers would pay an average rate of $1,443.