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Florida Insurance Costs Rank Among The Nation’s Highest

On Behalf of | May 11, 2015 | Insurance

A new research project showed driving in Florida will cause your insurance costs rank to among the nation’s highest. According to insuranceQuotes.com, lorida drivers pay 12 percent above the national average. The report makes it calculations using quotes from carriers representing 60 percent to 70 percent of the market. Why? One factor is a state requirement that forces Floridians to buy at least $10,000 in Personal Injury Protection coverage that duplicates medical insurance drivers already have through Medicare or private health plans. That tends up to push rates in the few remaining no-fault states like Florida and Michigan, analysts say. Also, there’s geography – which involves things like a higher risk of catastrophic weather, analysts say. Throw in some accident fraud and bad driving and there you have your above average premium

We know there are some things that we can’t change like our age and where we live but there are some stuff that we can do. Use the Internet or your phone to check out if the price is a little less steep with another insurance company. “Shop around and ask for discounts,” said Laura Adams, insuranceQuotes.com senior analyst. Rates can vary a lot between companies. And in Florida, discounts are often overlooked because the consumer never asks. They can range from, for younger drivers, lower prices for good grades (B or better) to seniors who take a driver safety course. The report does not disclose the actual dollars drivers pay in the states and counties, just percentage differences in price quotes.

The average annual car insurance premium of $1,127.93 in Florida ranked No. 4 in the country, according to the latest data (2012) available from National Association of Insurance Commissioners. No. 1: New Jersey, $1,219.93.
*Most expensive car insurance premiums

  1. New Jersey $1,219.93
  2. D.C. 1,154.91
  3. New York 1,152.45
  4. Florida 1,127.93
  5. Louisiana 1,112.53

*Source: http://www.iii.org/fact-statistic/auto-insurance

http://www.insurancequotes.com/auto

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