Car insurance in Florida costs nearly double national average

As a news writer, it’s hard not to raise an eyebrow upon reading the headlines, “Car Insurance in Florida Costs Nearly Double National Average.” That’s right, folks! Living in Florida could be a hefty price on top of your annual car insurance premium. But how did it happen? Let’s take a closer look.

According to a recent report, Florida ranks as the fifth most expensive state for auto insurance in the United States. The average cost per year of car insurance in Florida is $2,587, which is almost double the national average of $1,517. Florida’s hurricane-prone coastal cities are said to be the primary cause for this steep cost increase. But it’s not just the natural disaster risks. Florida has a high percentage of uninsured motorists; this can lead to accidents that put a higher financial burden on insured drivers.

It’s not all bad news, however. Florida lawmakers are proactively working towards decreasing the overall cost of car insurance for its residents. In January of 2021, new laws were implemented that require drivers to carry higher limits of bodily injury coverage. The goal is to reduce the number of judgments against drivers and ultimately increase insurance company profitability. But for now, the high insurance prices remain a reality for Floridians.

While it’s not something we want to hear, the fact remains that car insurance can be incredibly expensive, affecting our daily financial lives. As we continue to navigate the costs, it’s crucial to stay informed and proactive in finding ways to save money while maintaining coverage. The recent Florida laws have the potential to decrease prices, but only time will tell. Let’s hope for the best!