TAMPA, Fla. (WFLA) — If your auto insurance went up in the last year or two, you’re far from alone. A newly published report from Bankrate found that Florida was the second most expensive state for car insurance, and Tampa was the third most expensive major city.
“Biggest cost for me would be, it’s got to be insurance,” said McCabe Sargent. “It’s got to be insurance.”
Auto insurance companies say rates are going up because they’re losing money. They blame personal injury lawsuits and the cost of replacement parts.
Tampa drivers we spoke with agreed — prices have gone up across the board, including car insurance.
“I don’t know what would we have to do as a state in order to kind of help us,” said Alexandra Suarez. “Because everything is going up.”
Bankrate found location matters when it comes to rates as well. Florida, with its constant flooding, is impacted more than other states.
“What used to take us a five-minute drive to go a mile is now 15, 20 minutes,” said Selina Perez. “Obviously there’s a lot more traffic, so of course your insurance is going to go up. More accidents, more claims.”
Plus, some are worried about uninsured drivers on the roads.
“The more people are getting in debt because they just get into a car accident,” said Suarez. “They get hit by someone that’s just driving around with no insurance because they can’t afford it.”
Bankrate suggested shopping around, focusing on your driving, and buying a safer car as ways to reduce your bill.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.