What is the average car insurance rate in Florida?
The average car insurance rate for state minimum coverage is $69 a month, or $828 a year. USAA and Geico have the cheapest auto insurance in Florida among carriers surveyed in our experts’ data analysis of rates for nearly all ZIP codes in the state Miami ZIP code 33125 is among the most expensive ZIP codes for full coverage insurance in the state.
Why does Florida have a high rate of car insurance claims?
Florida has lots of inexperienced drivers, due to the many colleges and universities in the state, lots of elderly drivers as its home to many retirement communities and also hosts drivers unfamiliar with the local roads as a tourist destination. Again, all this adds to a high rate of claims for insurance companies, relatively speaking.
How much are car insurance rates going up each year?
Nationally, car insurance rates are increasing by an average of 4.9 percent, according to approved rate filing data from S&P Global Market Intelligence. These rate changes stand to affect more than 62.5 million policyholders across the country. For policyholders in some states and with certain auto insurers, rate increases could be much steeper.