A recent report by MoneyGeek revealed that Florida is among the most expensive states to own and maintain a car, ranking fourth in the United States.
The study evaluated several cost factors, including gasoline prices, annual toll costs, annual maintenance costs and cheapest car insurance rates in each state.
It’s certainly not cheap to keep your car on the road. You have to pay for gas, insurance, car maintenance and much more, he said. News Channel 8But depending on where you are in the US, you may be able to save some money on your regular vehicle fees.
In Florida, drivers face several significant financial challenges. The Sunshine State has one of the highest car insurance costs in the country, with an annual average of $1,360.
This factor puts Florida near the top of the list due to high accident and fraud rates, which drive up insurance premiums. Comparatively, residents of states like South Dakota enjoy much lower premiums, around $614 a year for full coverage.
Florida’s fuel prices are also above the national average, significantly raising the annual operating cost of a vehicle.
Despite fluctuations, drivers in the state generally pay more per gallon compared to other states. This additional cost adds to already high insurance expenses, creating a considerable financial burden for vehicle owners.
Maintenance and repair costs in Florida are notoriously high, partly due to the hot, humid climate that accelerates vehicle wear and tear.
This increases the frequency of required service and repairs, with service fees typically higher than other states. In comparison, states like Connecticut have the highest repair costs at approximately $418 annually.
In addition to insurance and maintenance, Florida residents also face high taxes and fees related to car ownership, including registration and renewal fees.
These rates vary by county, but are generally higher than in other states. In states like Delaware, the average cost of tolls per vehicle is significantly high, around $1,077 per year, while in California, the average cost is $497.
The report of MoneyGeek assigned a cost score of 0 to 100 to each state, with 0 being the most expensive and 100 being the cheapest. Florida scored poorly because of its high insurance and maintenance costs.
Maryland, with a score of 0, ranked as the most expensive state, followed by Oregon and other states such as Connecticut and Delaware. In contrast, several Midwestern states, such as South Dakota, Nebraska and Wisconsin, scored the lowest, indicating lower costs for drivers.
To mitigate these high costs, drivers are advised to shop around for insurance, drive safely, improve their credit, and take advantage of available discounts. According to NerdWallet, these strategies can help significantly reduce insurance costs and other expenses related to car ownership.
These factors, added to the results of surveys that for years point to Florida drivers among the worst in the United Statesor those that stand out the difficult challenge of driving on its streets and highwayspaint a worrying picture for car owners in the State.
