Published On: Fri, Nov 18th, 2022

Car Insurance Rates in Florida is 59% More Than The National Average. Here’s Why We’re Paying More.

Inflation and tough economic times have made it difficult for families everywhere to make ends meet, and one of the culprits is the rising cost of insurance. This is especially true in Florida, where car insurance rates are a whopping 59% more than the national average. Many car owners are undoubtedly questioning the reasons behind these high costs and, more importantly, seeking ways to find more affordable rates for full coverage car insurance.

How Much Do Floridians Pay for Car Insurance?

Florida has some of the highest auto insurance rates in the country. According to Kristine Lee of The Zebra, motorists in Florida pay an average of $2,425 per year — 59% more than the national average. Even if you take the absolute bare legal minimum car insurance, you can still expect to pay more than $700 a month, which is still 51% above average.

Why is Car Insurance in Florida So Expensive?

So what’s making car insurance in Florida so prohibitively expensive?

For one thing, insurance premiums are higher everywhere, not just in Florida. Inflation, the rising cost of replacement parts, supply chain issues, extreme weather events, and even a spike in auto and catalytic converter thefts have all contributed to higher premiums nationwide. But there are several other reasons why Florida’s rates in particular are so high:

High traffic levels. Traffic density means more opportunities for collisions or other incidents, and areas like Miami, Tampa and Orlando have some of the densest traffic in the state. As a matter of fact, three Florida cities rank among the worst traffic spots in the entire nation.

Weather. Extreme weather events have been on the rise for some time now, and major weather disasters means major payouts for insurance companies, often ranging into the hundreds of millions of dollars or more. Florida in particular has a high rate of storms and hurricanes, which can lead to untold damage — and large claims.

Uninsured drivers. There are a lot of uninsured drivers in the United States — over 13% of all drivers in the US drive without insurance. But that rate is doubled in Florida, where over 26% of drivers are uninsured. That’s more than one in four drivers. This, combined with Florida being a no-fault insurance state, means insurance companies often have to pay larger payouts when a collision happens… which translates into higher premiums for policyholders.

Demographics. Many retirees and students live in Florida, both of whom represent higher-than-average risk. Older drivers can be more prone to accidents and mishaps, while younger drivers tend to be reckless and are more likely to engage in drunk driving.

Tourism. Being a popular vacation spot means Florida experiences a high number of visitors year-round, which adds to traffic on the road. Visitors also see Florida as a “party” state, which means higher incidents of driving while under the influence of alcohol or drugs.

How Can You Find Cheap Florida Car Insurance?

So what can you do to bring those insurance premiums down? Here are a few tips:

  • Maintain a clean driving record. Do your best to avoid traffic violations, DUIs, and collisions, all of which will send your insurance premiums through the roof.
  • Swap your high-performance car for a safer vehicle. Sports cars and high-performance vehicles attract higher insurance rates for a number of reasons — they tend to promote more risky driving behavior and are often magnets for thieves. A more “sensible” vehicle with a good safety rating can help lower your london courier insurance premiums. It might not look as good on the road, but it could save you a lot of money in the long run.
  • Take advantage of discounts. Did you know insurers offer dozens of discounts for various criteria? These include good student discounts, multi-vehicle policy, bundled car and home insurance policy, paid-in-full discounts, and more. Call For SR22 Insurance Florida Estimates.
  • Compare auto insurance quotes to find the best cheap car insurance in Florida. You don’t have to stick with your insurance company forever. You could find a much better deal elsewhere!
  • If you don’t drive as much as you used to, consider switching to a mileage-based insurance.
  • Take a defensive driving course.
  • Maintain a good credit score. While some states have banned the use of credit score info in determining car insurance premiums, it’s still a common practice to factor them in. Do what you can to increase your credit score and your insurance rates will come down.
     

Don’t Take the Risk

With insurance premiums being so high and finances so tight for many people, it might be tempting to go without car insurance and just hope for the best. This is a bad idea for a number of reasons. It doesn’t matter how good a driver you are — it’s just as often the “other guy” who causes an accident. Forgo your insurance, and you could end up on the hook for thousands in medical and legal bills. You may seek the services of a trusted car insurance agent to help you find the best deal.

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