Report: Floridians are paying some of the highest auto insurance premiums in America

by | May 10, 2022


A new report published by Bankrate indicates that Floridian motorists are paying the second-highest auto insurance premiums in the nation, only faring better than Louisiana.

Florida residents on average pay 4.42 percent of their annual income towards auto insurance, amounting to an average of $2,762 per year, nearly $1,000 more than the national average.

When the state’s largest metro areas are analyzed, Tampa and Miami drivers spend the highest percentage of income on their car insurance, delegating an eye-popping 4.49 percent and 5.58 percent of their annual income to auto insurance coverage, respectively.

One reason these states may experience high true costs is that hurricanes and flooding are common, which may drive up insurance rates.

“Paired with the relatively low median incomes in [Florida], residents end up putting a significant portion of their budget toward car insurance,” the report states.

Florida is especially costly for teenage drivers, with an average year-long premium coming out to $5,805, or $483 a month. This figure is just under $2,000 the national average of $3,852.

Causing an accident can leave drivers expecting a $1,046 average increase in their annual rates, while a single speeding ticket can push rates over $500 higher.

Insurance isn’t the only spot hurting car owners’ wallets as of late. Gas in Florida experienced another sharp increase in price this past week, reaching an average of $4.20 a gallon on Monday, up 10 cents from two weeks prior, reaching as high as $4.42 a gallon in some counties.

Getting no reprieve from exorbitant costs, Floridians are paying over a dollar per gallon higher at the pumps than a year ago, but help could be on the way.

Gov. Ron DeSantis on Friday signed a tax break, centered around the rapidly rising cost of fuel. While the governor initially sought to put forth a one-year gas tax into place, the state Legislature only agreed to a one-month window.

“There are certain things when you have inflation that you can dial back,” said DeSantis. “You can’t really just not get around to your job. You have to fill up your gas tank. This is particularly for people who need to fill up for work. We have to make a difference.”

The Legislature ultimately decided to enact the gas tax holiday for October of this year, citing the fact that it would most directly benefit Floridians as October is the month with the fewest out-of-state visitors.


  1. Anonymous

    One of the reasons why Floridians are paying some of the highest auto insurance premiums in America is because we don’t have a required yearly inspection to make sure that every vehicle on the road is in compliance with the motor vehicle laws. Instead of just paying a fee and getting a registration as we now do the inspection would weed out those vehicles that are not road worthy and need to be fixed or taken off the road thereby eliminating accidents due to vehicle malfunction.

    • Anonymous

      Then how can you explain that other states pay less than Florida in insurance premiums yet they also don’t have a mandatory yearly vehicle inspection?
      The idea is really bad because. It will create more and more regulations when it comes to inspections, And the drivers will pay for it.
      I’ve been to Germany, people still drive bad cars they just pay yearly for the vehicle inspections out of their own pocket

    • Paul

      As a retired Florida Highway Patrol trooper who investigated many accidents, I can tell you that it’s very rare that they rare that a mechanical failure was the cause.

  2. David

    Many factors go into setting insurance rates, Florida includes gender along with credit rating, income, prior citations, types of vehicles all go into the ratemaking. If the mandatory BI bill had passed, you can add another annual $700+ to these rates.

  3. nickofernandes

    Interesting statistics. I also not long ago read about Lyft accident and the number of fatal consequences that occur due to ridesharing accidents services. Scientists conducted a rather interesting study and concluded how to make our trips safer and reduce the number of fatal consequences, quite relevant these days

  4. Mark

    California had the highest amount of traffic accidents followed by Texas and then Florida in 2022 as of this writing. We all know that speeding, stop sign and traffic light laws are enforced but what about vehicles that are on the road with faulty brakes, brake lights, turn signals and bald tires. Could this be the cause why Florida is number three in the most accidents and insurance rates in the country?

  5. Marty Scorsese

    As a skillful Ford driver, I know that auto insurance can be a significant expense for Floridians. Unfortunately, we are paying some of the highest auto insurance premiums in America due to our state’s high accident rate and high risk of natural disasters.

    One way to offset the cost of high auto insurance premiums is by purchasing a used car at a Public Car Auctions in Phoenix. These auctions offer a great selection of cars at competitive prices, and you may be able to find a great deal on a used Ford. Plus, buying a used car may also lower your insurance rates since the car’s value is less than a new one.

    Another benefit of attending a car auction is the transparency of the process. Public Car Auctions are well-organized, and all cars are inspected and verified before being put up for auction. You can also check their history and condition, which gives you peace of mind when buying.

    I highly recommend checking out if you’re looking for a great deal on a used Ford or any other car in Phoenix. Not only can you save money on the purchase of the car, but also on your insurance rates.

    In conclusion, Floridians are paying some of the highest auto insurance premiums in America, so looking for a used car at a Public Car Auctions like the one in Phoenix may be a great option to save money while buying a reliable car.

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