Florida Car Insurance Premiums Increase 25% Since Ron DeSantis

14 Aug

According to a recent analysis by Newsweek, car insurance premiums have climbed a shocking 25 percent since Ron DeSantis won the election for governor in 2018. 

While car insurance premiums have been going up across the country according to the U.S. Bureau of Labor Statistics consumer price index (CPI), in fact they have climbed 17.1 percent between 2022 and 2023, Florida has seen the largest increase of any state. According to industry experts, inflation, supply shortages as well as climate change and increased road accidents have all led to higher insurance costs. 

According to FINN, a company that offers subscription-based car services, in 2018 when DeSantis was elected governor of the Sunshine State, the average cost for full coverage car insurance was $2,050 which made it the third most expensive state in the country for car insurance, coming in behind Michigan and Louisiana.

Since DeSantis become governor, Florida has catapulted to the first-place spot when it comes to the most expensive car insurance in the country. According to FINN, the average premium in Florida is now a whopping $2,560 for full coverage. Louisiana is now the second most expensive state for car insurance while Delaware, Michigan, and California round out the top five.

All of this means that under DeSantis’s leadership, car insurance costs have increased 24.8 percent. 

According to FINN, one of the reasons that residents of the Sunshine State pay so much for coverage is the fact that an astounding 20 percent of drivers in Florida are out on the road without any car insurance at all. Insurers pass the cost of uninsured drivers onto drivers with coverage via higher premiums. 

The cost of car insurance in Florida is only going to continue heading up according to FINN. They estimate that by 2033, drivers will be paying $4,813 a year for coverage if nothing changes in the state.

“Car insurance costs in the state will increase as climate change causes increasingly severe weather events, increasing the risk of damage to vehicles and pushing up premiums,” said the report issued by FINN.

In addition to high car insurance costs, Floridians are also dealing with some of the most expensive homeowner premiums in the country. Several insurance companies have gone under or left the state completely in the last few years due to the cost of fraudulent claims as well as damage from extreme weather. 

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