It isn’t solely owners’ insurance coverage prices which might be impacting Floridians wallets.
A latest examine ranks Florida because the state with the best auto insurance coverage premiums in the US and projected to worsen.
The examine by FINN, reveals the typical prices of Florida drivers for vehicle insurance coverage is now $2,560 annually.
The nationwide common for auto insurance coverage? $1,682 yearly, which means Floridians pay nearly $1000 ($878) extra a 12 months, or 52 p.c, to insure their cars.
One of many causes, in accordance with the report is auto insurance coverage prices will enhance as local weather change causes extra extreme climate occasions, growing the danger of harm to autos.
However the principle cause, says FINN, is that Florida has the best fee of uninsured drivers throughout the nation. In accordance with the report, about 20 p.c of Florida drivers “lack even minimal legal responsibility insurance coverage, pushing prices onto insured drivers by increased premiums.”
And is about to worsen.
During the last decade, auto insurance coverage premiums within the Sunshine State have elevated greater than any state within the US, roughly 88 p.c.
The projections for the annual value of auto insurance coverage in Florida is that prices will rise to an estimated common of $4,813 yearly by 2033.
For the entire FINN report, click on right here.
