Florida has the nation’s highest average car insurance premium, up 24% from a year ago

Wouldn’t higher replacement parts make auto insurance expensive everywhere and not single out FL?

From article:
“Florida has the nation’s highest average car insurance premium, up 24% from a year ago, forcing one woman we found to give up on driving altogether.”

High accident rates and this is real reason:

“A high number of vehicle thefts and insurance fraud in Florida are also cause for high rates.”

 

Every fender bender in Florida now involves a call to Morgan and Morgan or Farrah and Farrah. Gotta get that billboard lawyer money baby!

 

The worst call to run for a firefighter/medic is a car that makes any contact with a public transit bus. You just pray it was nearly empty when you get there because everyone claims neck and back pain.

 

Two years ago one of my garbage trucks was in an accident with city bus. You better believe we were lucky as shit the bus was speeding and empty

 

I feel like this has been true for a few decades at least. We've had multiple opportunities to end PIP during that time frame.

 

Florida insurance companies are loathe to write auto insurance as their “combined ratios” are over 1.0 (Note: I'm familiar w/ Commercial Auto - can't say these numbers speak for personal drivers but the market itself is affected).
Premiums will continue to increase until carriers make a buck on this line of coverage.

Combined ratio is an insurance metric for a profitable book of business. (Overhead +Claims)/Premiums = combined ratio. Roughly it’s usually about 35-40% overhead and 60-65% claims in a normal year.
Florida has multiple factors unique that make auto insurance more expensive: Rapidly growing state. Roads insufficient for traffic. Fraud Capital of USA - I'm looking at you Dade/Broward/Palm Beach counties. Mixed bag of nuts driving: Foreigners, Tourists, Old Farts (no disrespect), etc. Add to that mix the additional factors that are across the industry/nation: distracted drivers (idiots checking their social media feed while in motion), inflation, aggressive attorneys seeking big bucks for every little fender bender, more computerized autos and hence more expensive repairs.

It's a wicked brew that has all of us paying more. Our insurance bumped up 30% this year with no tickets, no claims.

 

My Progressive renewal premium for the same two cars, both hybrids, actually decreased $100/6 months last month.

 

shot through the roof, almost as bad as house insurance in Florida.

 

Don't worry guys, at least we're outlawing drag shows.

 

Insurance is woke.

 

Call attorney Dan Newlin and he will get you 1.5 millions dollars. Thank you Dan! How the bar has let these attorneys advertise like this is beyond me.

 

I haven't seen any of his television ads since we cut cable but .... he used to have some "interesting" folks telling their story and how much Dan got them!! Still see his billboards along I-95 and I-4.

 

Have two adult kids visiting from overseas for a few months so we loaned them one of our vehicles to drive. I added them to our policy and it bumped our rates about 30% ..... but doubled the premium on our personal liability umbrella. Still less than a rental car.

 

A HUGE scam is with windshield repair. Florida law requires that your comprehensive coverage provides for replacing a damaged windshield with $zero deductible. The glass places that advertise they'll replace your windshield at no cost to you and that they'll pay you $100 (or whatever) for your broken one get you to assign your rights under your policy to them and then they bill your insurance company some exorbitant amount to replace it...multiple times what you would pay a reputable shop if you just drove in off the street and paid out of your own pocket. It got so bad in Hillsborough County, there are several "Windshield Case Dockets" a month just to deal with it.

 

But your governor is focused on the important things:
DEI and Disney.

 

What’s the solution? Cap awards and attorney fees?

Seriously, what should state government be doing re ever increasing auto insurance rates?

 

I got whiplash from reading this thread, do I have a claim?

 

I dont know how huge it is but comp coverage is super cheap compared to basically anything else on your policy, like collision, liability or UM. Whatever is going on doesnt have much rate impact on that coverage.

 

Well here are a few things.

The Root Causes of Florida's Auto Insurance Affordability Crisis