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Having car insurance is one of the most important aspects of owning a vehicle. Not only does it protect your investment in the case of an accident, but it’s also required for driving in most states. Of course, most people would prefer cheap car insurance. However, it’s more expensive in some states despite being needed for car safety. In particular, Florida car insurance is the most expensive in the country.

Here’s why Florida car insurance is so expensive.

Florida car insurance isn’t cheap

Florida car insurance isn't cheap
A damaged car parked in Florida | Joan Cros/NurPhoto via Getty Images

There are plenty of states drivers could pick if they want cheap car insurance. However, Florida isn’t one, as it’s pretty costly. According to The Motley Fool, Florida has the most expensive car insurance in the country. Of course, some lists rank other states as the most expensive, but the general consensus is that Florida holds this distinction.

Regarding price, research shows that Florida car insurance premiums cost an average of $2,560 per year. However, this isn’t much more than the national average for full coverage, which is $2,542. Still, most states are significantly less expensive, even with the rising cost of insuring a vehicle. Of course, prices differ based on whether drivers get full or limited coverage for the vehicles.

Why does it cost so much to insure a vehicle in Florida

Typically, the states with cheap car insurance have reasons for the price. So, why is Florida car insurance so expensive? Well, the biggest reason is that Florida is what’s called a no-fault state. This means that in the event of a car accident, drivers have to file claims with their insurance company regardless of who caused the collision. Because of this, drivers also have to have Personal Injury Protection as part of their insurance policy. 

It’s also important to point out that despite each driver filing a claim in a no-fault state, the driver who is at fault will still be responsible for paying for auto repairs. However, each driver involved in the accident will pay for all other expenses, such as medical costs, lost wages, etc. There are 12 no-fault states in the country. 

There are also other factors that impact the cost of insurance in specific states. For one, population density influences how expensive Florida car insurance is. This is because states with higher populations will statically have more car accidents. States with more natural disasters also have higher car insurance costs. After all, it means more storm-related insurance claims. 

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