WalletHub, Financial Company Auto insurance in Florida is expensive because it's a no-fault state with the highest percentage of uninsured drivers in the country. Several weather hazards that usually occur in Florida, such as tornados and hurricanes, can damage your car to the point that your insurance company could declare it a total loss. The frequency of these cases is an important part of why car insurance in Florida is so expensive. Florida auto insurance rates are high for several reasons, including state laws on no-fault auto insurance, exposure to risk due to extreme weather conditions, the average profile of drivers, and the number of uninsured drivers.
The average cost of car insurance has increased across the country, and auto insurance rates in Florida are following the same pattern. For example, combining your car insurance policy with your home insurance could allow you to get much lower rates than if you bought your policies from different companies. According to a new study of coverage rates conducted by ValuePenguin, Florida is the second most expensive state in terms of the average cost of car insurance in the country. Between gas prices and rising auto insurance rates, today's Central Florida drivers, like Mel Greenberg, are finding it harder to get around.
These visitors drive to higher-traffic roads, increasing auto insurance rates in Florida. The high rates associated with this additional filing can contribute to car insurance rates in Florida being so expensive. If you live in this state, you should be proactive when comparing auto insurance quotes because car insurance rates in Florida are so expensive. While it's not part of the state's minimum insurance requirements, buying insurance for uninsured drivers is recommended.
Several factors explain why car insurance in Florida is so expensive, such as busy roads, additional insurance requirements, high health care costs, uninsured driver rates, and the risk of adverse weather conditions. Over the past six years, auto insurance rates in Florida have steadily increased according to the MoneyGeek ranking, which went from being the 43rd most affordable state in terms of coverage to 46th. Because insurance premiums are so high and finances are so tight for many people, it can be tempting to run out of car insurance and hope for the best. Florida is in sixth place among the states with the highest rate of uninsured drivers, which means that the likelihood of being involved in an accident with someone who does not have insurance is higher than in other states.
Extreme weather conditions are common causes of auto insurance claims, especially for drivers whose policies include comprehensive insurance.