Summary
Florida drivers pay more to own and operate cars than people in any other state in the U.S. The high costs mainly come from insurance, influenced by factors like Florida's population, traffic, climate, and insurance market challenges. Weather events, insurance fraud, and crowded roads add to these expenses.
Key Facts
- Florida car ownership costs an average of $8,483 a year, excluding the car's purchase price.
- Insurance is the biggest expense, averaging $3,874 annually.
- Florida ranks third in the U.S. for expensive car insurance due to factors like weather and market instability.
- Frequent storms and flooding in Florida increase vehicle damage risk.
- There is less competition among insurers in Florida, leading to higher prices.
- The state's No-Fault Law has led to increased insurance abuse.
- Florida's roads are crowded, contributing to more accidents and legal cases.
- In 2023, there were significantly more personal injury court cases in Florida compared to the national average.
