Florida car insurance increasing at alarming rate ...
- Thread starter odie
- Start date
I haven’t experienced a claim in more than 20-years, and yet my rates go up all the time. I almost dropped USAA last time around. When I asked about my rate increase, they said it could be higher if I lived in Florida. Somehow, that didn’t make me feel any better. So much for no claims and a flawless driving record. 
Last edited:
I thought the exact same thing when I saw my Geico rates going up AGAIN.
Switched to USAA with about the same coverage for almost $75 cheaper monthly.
On an individual basis the number of claims made by you is just one of the factors. At least there is partial control over this factor based on how you drive. However-obviously we can not be responsible for other factors of increased rates based on the behavior of others-and vehicles just being more complicated generally. I have 4 rear sensors in my back bumper. I would imagine it's more costly than one without if the bumper was taken out in a collision.I haven’t experienced a claim in more than 20-years, and yet my rates go up all the time. I almost dropped USAA last time around. When I asked about my rate increase, they said it could be higher if I lived in Florida. Somehow, that didn’t make me feel any better. So much for no claims and a flawless driving record.
I just carry liability only and prices kind of crazy. I used a broker all the time.
Between the Natural disasters, supply chain, cost of parts and vehicles, Pip, Florida being a high accident state, health care costs, Florida Man, fraud and lawsuits, ect. It never really surprised me that the rates of car insurance in Florida are what they are.
Pic may or may not be related.
Pic may or may not be related.
That's one of the many reasons why we live in the sticks well outside of San Antonio.
The cost of re-insurance in Florida is much higher. Re-insurers don't want to indemnify the insurers. Most of these companies are off shore. It was covered in the home-owners thread. They simply don't want to touch anything in Florida, period. It doesn't matter if your in a flood prone zone or not - they don't want anything to do with Florida. Fewer insurers means higher rates.
Everywhere else will go up as well - the cost of repairs or replacement auto's along with all the crazy drivers is an everywhere issue. Many insurance companies are loosing money right now.
Not much the average Joe can do, but thats the story.
Everywhere else will go up as well - the cost of repairs or replacement auto's along with all the crazy drivers is an everywhere issue. Many insurance companies are loosing money right now.
Not much the average Joe can do, but thats the story.
Everyone always says how expensive Florida is, it’s not everywhere in Florida. I’m about 12 ish miles from the Atlantic Ocean and my insurance is up maybe 2%? I’m 2 hours from Miami and I know it’s gotten high there but the population has also exploded. I will say this, it’s scorching hot with “feels like” temps of 105. We sure do have beautiful water and beaches though.
No intentions of moving for me I love it here. My area has grown a lot too. In fact I’m happy to say we really don’t need anyone else moving here, we’re full!
No intentions of moving for me I love it here. My area has grown a lot too. In fact I’m happy to say we really don’t need anyone else moving here, we’re full!
I moved here 4 months ago from the frozen North. I love the weather here. But wow the cost of living compared to Michigan is insane. For what I’m paying rent, I could be living in a very nice house up north. But I won’t go back. Not interested in the politics up north.Everyone always says how expensive Florida is, it’s not everywhere in Florida. I’m about 12 ish miles from the Atlantic Ocean and my insurance is up maybe 2%? I’m 2 hours from Miami and I know it’s gotten high there but the population has also exploded. I will say this, it’s scorching hot with “feels like” temps of 105. We sure do have beautiful water and beaches though.
No intentions of moving for me I love it here. My area has grown a lot too. In fact I’m happy to say we really don’t need anyone else moving here, we’re full!
GON
$150 Site Donor 2025
Read an article GEICO had been unprofitable for most of the past five years (Warren Buffett's Hathaway owns GEICO).
GEICO revised it gameplan to raise rates and allow some insured to "walk" for cheaper insurance companies. GEICO's plan worked, they are now profitable. When this happens, other insurance companies are no longer lowering their rates to attract new business, but instead following GEICO's lead.
GEICO revised it gameplan to raise rates and allow some insured to "walk" for cheaper insurance companies. GEICO's plan worked, they are now profitable. When this happens, other insurance companies are no longer lowering their rates to attract new business, but instead following GEICO's lead.
I have also read many insurers are currently loosing money - for the reasons I mentioned above. However they all made a lot of money in 2020 when no one drove anywhere. I guess they forgot to save it
https://consumerfed.org/press_relea...surance-regulators-fail-to-protect-consumers/This is not a "new" Geico plan. I had Geico for like a decade with no or reasonable increases, when suddenly they started jacking up my rates by a lot (like 15% every 6 months) till I switched the second jump. No tickets, claims, no driver or vehicle or address changes, nothing. That was I think in 2017 or so.
But yes, expect your rates to increase. I switched again 6 months ago. The renewal is up a little but not too much - I think 7% - which is really 15% annually but these days that seems good. Sad times.
Insurance can be regulated by state government if they choose.
That all being said everything is up.
That all being said everything is up.
Unless you are in a co-op insurance company, you are not the customer - you are the revenue stream.
The stockholders have spoken (it is capitalism after all), and they want profits, not losses. Not to mention, a company must have profits to pay it's bills.
No surprises here. None.
The stockholders have spoken (it is capitalism after all), and they want profits, not losses. Not to mention, a company must have profits to pay it's bills.
No surprises here. None.
GON
$150 Site Donor 2025
It would be great to have a resource that lists all the mutuals able to do business in a state, how their rates compare to non mutuals in the same state, and a comparison on claim satisfaction.
Its a circular argument. The state can regulate insurance. The insurance companies can leave and not do business there if they choose. The state could regulate traffic better, or limit damages, or make getting a license and keeping it require more skill hence less accidents. There is no one solution, because there is more than one problem.
Florida has become as expensive a place to live as NY and CA have traditionally been. There are no bargains anymore.
I make no secret that I've not received a salary increase in over a decade. Inflation takes a bite every year, that's understood. What's not so clear to those living elsewhere is the sudden 40% increases in insurance costs. Homeowners started out in the $300 range per year is now in the $12,000 range. Auto insurance is the same,. was $60 per month, is now $500 per month. Oh, you want "non flood zone" FEMA flood insurance, well at least that's still a comparative bargain, in the hundreds per year.
Insurance costs, along with auto prices have far outstripped the CPI consumer price index calculated numbers. Adequate income is the only solution.
But at least the auto insurance companies will fall 30% short of paying for your needs, if the need arises. They are experts at this. All while using Chinese parts.
I make no secret that I've not received a salary increase in over a decade. Inflation takes a bite every year, that's understood. What's not so clear to those living elsewhere is the sudden 40% increases in insurance costs. Homeowners started out in the $300 range per year is now in the $12,000 range. Auto insurance is the same,. was $60 per month, is now $500 per month. Oh, you want "non flood zone" FEMA flood insurance, well at least that's still a comparative bargain, in the hundreds per year.
Insurance costs, along with auto prices have far outstripped the CPI consumer price index calculated numbers. Adequate income is the only solution.
But at least the auto insurance companies will fall 30% short of paying for your needs, if the need arises. They are experts at this. All while using Chinese parts.
I've never had my 6 month policy stay the same, always increasing. I shop around every year and go with the cheapest reputable company.