Florida auto insurance rates are highest in the U.S., according to study

Auto Insurance Adjuster — Courtesy: Shutterstock — Image by: Monkey Business Images

A recent study conducted by Coverage.com reveals Florida drivers pay the highest average annual premium of any state in the U.S. for auto insurance—a whopping total of nearly $2,600 dollars a year for full coverage.

In comparison, Maine has the lowest at just $831 a year.

According to The Zebra, the nation’s top independent insurance comparison website, car insurance for Central Florida drivers is up 4 percent from a year ago.

The increase was up 3 percent on average across the country. Central Florida and Orlando were a bit higher because of the higher amount of cars being driven on Central Florida roads.

Professional YouTuber and Orlando resident Malik Pettit loves fast cars, like his Infiniti Q60.

“It’s my baby man, it’s my baby,” the online performer said about his car.

Having a sports car that can hit more than 180 miles per hour has him paying a pretty penny for his auto insurance, a rate that has gradually gone up in the past two years of having the car.

“A year ago the insurance, I probably want to say, was like $300,” Pettit said.

$300 a month is already high, but the rate for his ride doesn’t seem to be going down anytime soon. Currently, the insurance rate for his Infiniti costs nearly $600 a month, a nearly 100 percent increase since 2021.

A big reason for Malik’s steep increase was that he totaled his Mercedes in 2021. 

According to TheZebra.com, there are several contributing factors that can affect the insurance hike many are seeing.

“If there are reckless driving behaviors in the area, additional traffic, even things like crime, theft or weather such as hurricanes,” Nicole Beck from The Zebra said. “All of those things cause people to file claims which means the insurance companies are losing money, then they raise rates.”

The upward trend will more than likely continue. 

“We don’t want to predict doom and gloom, but as more people are on the road, there is more traffic,” Beck said. “So theoretically, yes, the prices will continue to go up, but because more traffic means more accidents.”

The Sunshine State’s average premium in 2021 was just above $2,400, which was nearly 60 percent higher than the national average.

Aside from practicing safe driving and shopping around for competitive offers, experts say another way to possibly lower your auto insurance is to improve your credit score.

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