Car Owners in Florida Looking for Affordable Insurance as Rates Soar High


The odds of finding cheap car insurance in Florida are highly unfavorable. Florida ranks among the three most expensive states as far as car insurance in Florida is concerned. 

The survey was conducted by WalletHub in about 47 states, covering a minimum of 6 cities in each. Ranking the states from the cheapest to the most expensive, Florida hit almost bottom. 

Car Owners in Florida Looking for Affordable Insurance as Rates Soar High

There were many key findings in the survey that WalletHub conducted. To begin with, it was found that approximately 35% of people considered price as the most important factor when choosing car insurance. Only 14% laid emphasis on customer service, while another 35% of people said they found coverage to be the most crucial. The other findings of the car insurance survey were:

  1. When comparing cost and coverage – 3 out of 10 considered cheap insurance to be bad; 75% drivers wanted the best coverage regardless of the cost and almost 14% said they wouldn’t opt for car insurance if it wasn’t mandatory.
  2. Understanding Car Insurance – About 54 million Americans reported that they weren’t clear about car insurance, roughly 63 million American citizens have never changed their car insurance and two-thirds believe in getting their insurance from national providers rather than local companies. 
  3. Influencing Factors – Almost 71% of people expressed their disapproval of car insurance prices based on gender. Two-thirds of the surveyed people found it unfair that their credit score affects the cost of insurance. On deciding if the zip code should affect the insurance cost, Americans displayed a split opinion.

The rates of car insurance are structured state-by-state, considering myriad factors that influence the costs. Factors like job title, credit score, gender, driving history, traffic density, road conditions, crime rates, and various others influence the cost of health insurance in a particular state. Several State regulations, like the no-fault law in Florida, also affect the rates.

Some insurers believe that the presence of new and expensive vehicles and the high number of uninsured drivers lead to the high insurance rates in the state. He further mentioned that the expensive rates of car repairs and the greater occurrences of accidents in the state also drive the insurance rates higher.

Looking for the cheapest insurance providers in the state, the survey showed found Progressive to top the list with Geico offering the second-cheapest insurance in the state. State Farm, Liberty Mutual, and Travelers followed next, offering the most affordable car insurance in Florida.

In Conclusion

Most insurance experts believe that US should stop the practice of charging varied premiums based on socioeconomic and personal characteristics. These factors inflate the premium rates for some drivers, even though they hold excellent driving records. She maintains that the rates should be based on how one drives and not on who one is.

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