Insurify, an American insurance comparison shopping website just released new projections showing Florida car drivers will see their insurance premiums rise for the remainder of this year.
After Florida’s rates dropped 8% in the first half of the year, Insurify projects the state could reverse course, leaving Floridians to face the biggest cost increase between now and the end of the year, at 7%. That would push the state’s average from $2,912 to $3,107, assuming no additional tariff-related increases.
Florida
● Year-end annual cost projection, without tariffs: $3,107 (-1% year-over-year)
● Year-end annual cost projection, with tariffs: $3,194 (+2% year-over-year)
● Average annual cost (June 2025): $2,912
● Second half of 2025 projected cost increase: 7% without tariffs
Florida car insurance rates peaked in August 2024 at $3,250 on average. But premiums have retreated by more than $300 since then, despite prices cooling down.
According to Insurify, Florida is the most expensive state for auto insurers, with the nation’s highest loss ratio. Insurers pay out about $74.50 in claims for every $100 they make in
premiums. Some Florida drivers have noticed higher premiums, prompting them to lower their coverage to save on costs.
“As a result of high insurance rates in Florida, we’re seeing drivers who used to carry more robust coverage with high limits starting to reduce their coverage, switching to cheaper policies with lower limits,” said Mallory Mooney, director of sales and service at Insurify.
The past few years have been a roller coaster for auto insurers and drivers. Following a post-pandemic surge in driving, insurers raised rates substantially to keep up with increased risks — more accidents and more expensive auto parts due to inflation. From June 2022 to June 2024, the average annual cost of insurance in the U.S. rose by more than 40% — upward of $700.
