Why Is Florida Auto Insurance So Expensive?

In Florida, auto insurance is very expensive. The average driver has to pay almost $3,200 for full coverage and approximately $1,120 for minimum coverage. There are several reasons for this: the high volume of claims, the number of uninsured drivers around, weather, and the fact that Florida is a no-fault state. Let’s have a closer look at these issues and discuss how you can get the best quotes in your area.

Why Is Florida Auto Insurance So Expensive?

The primary reason why car insurance is so expensive in Florida is that drivers make many claims. According to the Florida Department of Highway Safety and Motor Vehicles, over 200,000 people got injured in car crashes in 2020, and 3,200 people died. As a result, insurance companies had to pay out billions of dollars. 

Additionally, insurers have to pay for thousands of vehicles that were damaged in floods, hurricanes, and other natural disasters every year. Because Florida is more prone to adverse weather conditions than most other areas of the US, the likelihood of damage caused by natural disasters is higher. 
 

Other Factors 

Several other factors contribute to the issue. In Florida, the rate of uninsured drivers is very high. Some experts estimate that over one-quarter of local drivers don’t have insurance. As a result, insured drivers have to pay more, and insurance companies lose money.

Because Florida is a no-fault state, each driver has to cover their own damage and injuries. This means that insurers have to pay out, even if the client wasn’t at fault.

In Florida, car insurance can be extremely expensive because there are many accidents, natural disasters, and uninsured drivers. However, this doesn’t mean that you have to pay thousands of dollars each year. Contact us at DTRT Insurance to get the best quotes in your area. As an independent agency, we collaborate with a wide range of local insurers, so we can find you a great deal.