WEST PALM BEACH, Fla. — The excessive price of auto insurance coverage is among the many rising bills that Florida drivers proceed to come across.
“They wished a thousand {dollars} each six months and two weeks later they wished $1,200,” Stephanie Donner of Boca Raton mentioned.
WATCH BELOW: Why are Florida’s auto insurance coverage charges among the many highest?
Why are Florida’s auto insurance coverage charges among the many nation’s highest?
In accordance with Bankrate, auto premiums are up 12% in 2025, and Florida ranks No. 49 with a mean full protection premium of $4,171.
“In the event you take a look at Florida, it is truly over the previous few years had the worst loss ratios simply in the case of automotive insurance coverage,” Insurify analyst Chase Gardner mentioned.
A loss ratio is when an insurance coverage firm is paying out more cash in claims than it’s taking in from premiums.
However he mentioned that wrecks and fraud are solely a part of the story.
WATCH BELOW: Why are automotive insurance coverage charges nonetheless accelerating?
Florida automotive insurance coverage charges nonetheless accelerating
“Different elements are out of drivers’ management that included inflation, which has been affecting everybody throughout the nation,” Gardner mentioned. “However issues can spiral in Florida the place you even have very extreme and actual threats due to pure disasters probably exacerbated by local weather change.”
Insurify predicts that auto insurance coverage charges will hold rising as extreme climate threats persist and inflation retains impacting the price of autos and elements.
Todd Bender at Angels Auto Care in Mangonia Park mentioned he is seen the value of elements skyrocket within the final 10 years.
“One thing so simple as a lightweight bulb, the place you go to the shop and purchase a $5 bulb, now you are compelled to purchase some time tail gentle meeting and it is likely to be $1,200 to $1,500 from the seller,” Bender mentioned.
Throughout a news conference held in Miami-Dade County in early February, Florida Gov. Ron DeSantis introduced that auto insurers had been starting to drag again on rising premiums.
The governor introduced the next lower statewide for auto insurance coverage policyholders of those three firms
- Geico: 10.5% lower
- Progressive: 8.1% lower
- State Farm: 6% lower
Robert Norberg, the president of Arden Insurance coverage in Lantana, mentioned determining who may see a decrease fee will not be simple since so many elements decide auto insurance coverage charges. These elements embrace zip codes, driving historical past and firm loyalty.
“Lots of people who had been buyers and swap each six months to a 12 months are dropping that long-term low cost, even different carriers you go to they are saying, ‘how lengthy had been you along with your prior firm?'” Norberg mentioned.
