When you discuss auto insurance rates with non-Floridians or look up costs in other U.S. states, one glaring fact becomes apparent: Florida residents pay far more for premiums, up to double compared to other areas. A recent Yahoo! Finance article confirms that Florida is ranked second on the list of most expensive states for car insurance in 2020, with motorists paying around $2,178 every year. There are many underlying factors, including the various types of coverage that are required by law or recommended reasons.
As frustrating as it may be to pay more for auto insurance, you do reap the benefits in many ways if you are involved in a crash. A Miami car accident attorney can help you maximize compensation for your losses, but you get a basic grasp on why Florida auto insurance is higher.
How Insurers Set Premiums