It’s not simply householders insurance coverage prices which are excessive in Florida. A brand new report reveals that Floridians proceed to pay among the largest auto protection premiums within the nation.
The BankRate 2022 report reveals that the common auto premium within the state is about $2,762. That’s second solely to Louisiana and $1,000 above the U.S. common.
The bottom-cost states have been Hawaii and Maine, in line with BankRate, which calls itself an unbiased, advertiser-supported comparability service. The rankings are in keeping with different experiences lately which have proven Floridians pay greater than residents of most different states for car insurance coverage.
The report famous that Florida and Louisiana residents might expertise excessive insurance coverage prices as a result of hurricanes and flooding, which might drive up insurance coverage charges. Due to the comparatively low median incomes in each states, residents on common pay a bigger share of their finances towards automotive insurance coverage.
Floridians paid a mean of 4.4% of their earnings for automotive insurance coverage and folks in Louisiana paid greater than 5%, the report discovered.
For cities, drivers in Tampa and Miami paid among the highest charges within the nation, whereas folks in Boston and Seattle noticed the bottom common premiums.
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