TAMPA, Fla. — Florida drivers pay nearly double for car insurance than the rest of the country.
“We actually had to switch auto insurance because it was getting close to $300,” said Jeffrey Larmore.
Florida is one of the most expensive states in the country for car insurance.
A recent report by Bankrate found that in Florida, drivers pay an average of $3,183 per year for full coverage. That is 37% higher than the national average. For minimum coverage, rates are around $1,128 per year, 45% more than the U.S. average.
“I’m moving to Missouri. Funny enough, Missouri is going to be $120 cheaper than where we’re living at now,” Larmore said.
Experts said part of the reason Florida’s car insurance rates are so high is because it’s the third most dangerous state to drive in. Also, insurance fraud is very common.
“There has been a high rate of lawsuits that are potentially fraudulent being filed with respect to personal injury or liability,” said Mark Hamrick, Bankrate Senior Economic Analyst.
Hamrick said there are several rating factors car insurance companies use to determine premiums, including the city you live in.
“One of the things we found about the state of Florida is that communities and large cities tended to have more expensive insurance,” Hamrick said.
Increasing health care costs and Florida experiencing more severe weather also contribute to rising premiums.
A few things you can do to help lower your auto insurance are improving your credit score, maintaining a clean driving record, and bundling other kinds of insurance.
