[City Guy997S]

Originally Posted by sinatras

Every rep I got quotes from basically said "its not you, it's florida"

I am being told to lower coverages to the bare minimum to reduce the rate. But if I do that what's the point?

Also, at these prices, the number of uninsured motorists in Fla must be absolutely skyrocketing.

It should never cost $6000 to insure a $27000 vehicle. That is reprehensible and another nail in the coffin for the American dream.

How old are you? I know insurance gets expensive again when you get into your 70's.


For what's its worth I insure a BMW M3 and a new Porsche 911 cheaper than 6K yr total.

[markg91359]

Originally Posted by Mathguy

Making a second post to show you what you asked for above.

https://www.ryanhugheslaw.com/articl...cticut%2090%25.



The lowest are down around 30%.

The percentage of cases that go to court means little in and of itself. Some states have short statutes of limitation and a lawyer will file suit to protect the case. In fact, sometimes there is literally no defense work done after a filing because if it is done just to extend time, the interaction will continue simply between the claimant's attorney and the insurance company. An insurance company can easily bring about a court filing by refusing to be reasonable about a case. One example would be an insurance company's adjuster saying: "We are offering you $5,000 for your accident where you have $25,000 in medical bills". Most insurance companies don't do business that way, but there are a few that do.

In order for this statistic to have any meaning we would need to know the average cost of resolving those cases filed in court and compare them with the ones not filed that involve personal injuries.

Florida's no-fault system may increase accident costs because insureds learn that money is available to pay medical bills. A standard tort system provides no money for this purpose up front. Insurance companies have known for some time that the states with lowest insurance premiums are those that have a standard tort system and do not have no fault.

[Mathguy]

Originally Posted by markg91359

The percentage of cases that go to court means little in and of itself. Some states have short statutes of limitation and a lawyer will file suit to protect the case. In fact, sometimes there is literally no defense work done after a filing because if it is done just to extend time, the interaction will continue simply between the claimant's attorney and the insurance company. An insurance company can easily bring about a court filing by refusing to be reasonable about a case. One example would be an insurance company's adjuster saying: "We are offering you $5,000 for your accident where you have $25,000 in medical bills". Most insurance companies don't do business that way, but there are a few that do.

In order for this statistic to have any meaning we would need to know the average cost of resolving those cases filed in court and compare them with the ones not filed that involve personal injuries.

Florida's no-fault system may increase accident costs because insureds learn that money is available to pay medical bills. A standard tort system provides no money for this purpose up front. Insurance companies have known for some time that the states with lowest insurance premiums are those that have a standard tort system and do not have no fault.

First off, I'm not against the tort system, some of my best friends are trial lawyers.

That said, you already know the costs because you have the highest premiums in the country.

Costs x Expense & Profit load = Premium >>>>>>then approved by state and FL is not *soft* on rate increases by a MILE.

We both agree that no-fault increases costs. So good discussion, but in FL with their verbal no-fault threshold it is reasonable to see why a minor fender bender would have an insurer balking at meeting the threshold.

Good discussion though, so thankyou for your post.

That said, states with that system attract accident rings involving large law firms, shady medical practices and so forth.

Personally, I don't have a dog in the fight, just sharing info. FL has super high premiums for (several) reasons.

-Tort system
-Foreign drivers
-Elderly
-Tourists
-Uninsured

[Schuttzie]

Originally Posted by City Guy997S

How old are you? I know insurance gets expensive again when you get into your 70's.


For what's its worth I insure a BMW M3 and a new Porsche 911 cheaper than 6K yr total.

I've heard that you get higher rates in your 70's too. What state do you live in?

[beach43ofus]

43 posts later, & not 1 other person has been able to corroborate the OP's claim...hmm

[Mathguy]

Originally Posted by Schuttzie

I've heard that you get higher rates in your 70's too. What state do you live in?

I tried to look into this more but it's just too much work to try to find the rate filings etc.

Additionally, they may be proprietary algorithms and just not available to the public.

Since their premium is about double others here that are not "kids" themselves, I would still wonder if we are being told a premium that maybe has something else going on like other cars, boat or whatever.

Regardless, Florida still has very high premiums compared to other states so it's a great thread by the OP to have a discussion around.

[bale002]

I’ve been reading reports that the Honda Accord is the leading target for car thieves.

The $6,000 figure could be hyperbole for whatever reason, but if insurance rates for the Honda Accord are higher than average in Florida, the propensity for theft could be the reason, all other factors being equal.

[gypsychic]

Originally Posted by Mathguy

I tried to look into this more but it's just too much work to try to find the rate filings etc.

Additionally, they may be proprietary algorithms and just not available to the public.

Since their premium is about double others here that are not "kids" themselves, I would still wonder if we are being told a premium that maybe has something else going on like other cars, boat or whatever.

Regardless, Florida still has very high premiums compared to other states so it's a great thread by the OP to have a discussion around.

Car insurance rates vary wildly based on many factors: zip code, age of driver, driver history (tickets, etc.) driver limitations and how many miles car is regularly driven. Since we are not privy to ANY of this information this discussion is really useless.

However, is true that Tampa residents pay some of the highest rates in the state.

[Arcenal813]

Originally Posted by gypsychic

Car insurance rates vary wildly based on many factors: zip code, age of driver, driver history (tickets, etc.) driver limitations and how many miles car is regularly driven. Since we are not privy to ANY of this information this discussion is really useless.

However, is true that Tampa residents pay some of the highest rates in the state.

Maybe he has a DUI on his record? A lot of people do. 2 beers can land one with a DUI.

But yeah, insurance rates have shot up quite significantly, and Tampa is up there.

[City Guy997S]

Originally Posted by Schuttzie

I've heard that you get higher rates in your 70's too. What state do you live in?

Flariduh