Why are we paying more for car insurance in Florida? – NBC 6 South Florida

Whether you’re a longtime Florida resident or new to the area, there’s a good chance you know firsthand just how expensive car insurance premiums can be.
“It’s gone up,” Muriel said when asked how she’s seen her premiums change in recent years.
“I didn’t know Florida was so expensive for car insurance,” another woman told NBC6 after recently moving to South Florida from the Northeast. “I thought New York, New Jersey drivers are crazy, that’s where it’s going to be expensive, but no.”
Both women say they had no recent accidents or tickets, yet they are still dealing with high premiums.
According to the Insurance Information Institute, as of January 2024, the average annual full coverage premium in Florida was $3,941 – 55% higher than the national average of $2,542 and over $750 dollars more than the cost of insurance in January of 2023.  The Institute also said Florida has the highest-priced average full coverage car insurance premium in the country.
“That increase is happening across the state,” said Dulce Suarez-Resnick of Acentria Insurance in Miami. “It’s affecting everyone.”
The longtime Florida insurance agent said many of her clients were seeing premiums rise several hundred dollars at renewal, adding that they were struggling to find a better rate just by shopping around.
Responding to every consumer complaint
“I have to re-quote my customers just like everyone else,” she said. “And I tell them, you are with the most competitive carrier.”
To save, Dulce suggests you consider raising your deductible.
“Most people in Florida have a $250 or $500 deductible on their comp and collision,” she said. “We’re seeing a lot of people opting for $1,000 until the rates regulate again.”
She also suggests calling your insurance agent to see if there are any additional discounts you can apply.
“If you have youngsters … if they have a B+ or better grade point average, get a copy of the report card or transcripts submitted to the insurance companies for that good student driver discount,” she said. “Send them to the driving school. Get that driver’s certificate and send it to the insurance company. That will help you there as well.”
If you’re a good driver and don’t drive long distances every day, you could save up to 30% on your premiums if you sign up for an in-vehicle monitoring program offered by many insurance companies, she said.
“If you opt for this program it has to apply to all of your vehicles,” she said. “So just keep that in mind. But it could help you save a lot of money.”
Dulce also said one of the largest insurance carriers has filed for a rate reduction.
“For 2024, actually, we see light at the end of the tunnel,” she said. “I would venture to guess that so will the other carriers …They are starting to see the impact of these tort reform changes, so have a little patience.”