TAMPA, Fla. — Car insurance rates are soaring nationwide, but drivers in Florida are feeling the pain of sticker shock more than others.
“We moved from Pennsylvania. We stayed with the same company, same policy, no violations, no accidents, no claims or anything. Our insurance tripled from Pennsylvania to down here,” said Craig K.
Craig said his car insurance premium was about $2,000 annually when he lived in Pennsylvania. Since moving to Lakeland last year, it’s now close to $6,000.
“How do they expect people to survive down here anymore? With the cost of living and the employment down here doesn’t pay anything. So how do they expect people to survive down here?” Craig asked.
Florida is one of the most expensive states in the country for car insurance.
A recent report by Insurify found that the nationwide, average annual cost of full-coverage car insurance hit $2,329. In Florida, drivers pay an average of $3,200.
“Which is a 10% increase just over the past six months. So pretty extraordinary rise over the past year and a half,” said Chase Gardner, data insights manager at Insurify.
Several factors play into rising car insurance rates, including a higher number of car accidents, greater severe weather and rising cost of repairs.
“More expensive cars, more expensive repairs just mean claims are getting costlier and consumers, drivers are having to pay more for that,” Gardner said.
Drew Garabo is deciding whether or not to file a claim after his windshield was cracked, when it was hit by flying rocks from a truck.
“That’s what I’m weighing right now, I'm getting a couple of estimates. To come out of pocket to get it replaced is a significant fee. I'm weighing that against what they’re going to raise my rates for,” said Garabo.
His insurance company told him filing a claim will increase his future rate.
“I don't make claims, I haven’t been in an accident. To hear that, through no fault of my own, driving across the bridge as so many of us do. A truck failed to secure their load, and my rates are going to go up and that is going to mark against my driving record, it doesn’t sit well,” Garabo said.
As the insurance industry stabilizes, Insurify predicts rate hikes will slow down. In the meantime, if you're looking to save on insurance, try shopping around.
“One might actually give you a better rate for the exact same policy, just for being you. So, it always pays to check around. Drivers who do this can often end up saving hundreds of dollars per year,” Gardner said.
A South Tampa man turned to Susan Solves It after he said ADT told him he had to keep paying for a security system at his Hurricane Helene-damaged home, even though the system was so new that he never had a day of service.
