Drivers across the country are paying more for auto insurance.
Interest rates are up 20% since this time last year and 80% over the past decade, according to WalletHub’s Milvion Cherry Copeland.
Florida residents are already paying more than the national average due to hurricanes and inflation.
“Florida used to have the second-highest auto insurance sales in the nation,” said Robert Norberg of Arden Insurance in Lantana.
Robert Norberg of Arden Insurance talks about the high cost of car insurance in South Florida.
Auto insurance claims have been flooding in since Hurricane Milton made landfall in early October. According to the Florida Department of Insurance Regulation, there were about 1,000 commercial auto insurance claims and 34,172 personal auto insurance claims in Milton alone.
Rising car insurance prices are caused by both bad weather and inflation.
Prices are expected to rise, especially in Florida, which is prone to hurricanes and flooding. However, there are ways you can save money.
Check with your insurance agent for discounts for military, senior drivers, drivers in good standing, and length of coverage. One of the best ways to keep your rates low is to be a good driver and have a good credit score.
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