Drivers Beware: Average Car Insurance Cost Up 13.7% The Impact of Inflation on Car Insurance Premiums 

Average cost of car insurance has risen 13.7% to $2,014 a year in January

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Drivers Beware

Some cities, including Orlando, Tampa, and Miami, have an average cost of $3,000.

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Miami and Tampa have the highest insurance costs, at 5.5% and 5.2% of annual income.

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Florida has relatively higher insurance costs due to mandatory no-fault insurance and higher risk of accidents.

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Boston and Seattle have the lowest insurance costs, at around 1.3% and 1.4% of annual income.

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Lower insurance costs in cities like Boston and Seattle are due to fewer accidents and lower risk factors

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Cities with steepest year-over-year drops in insurance costs include Atlanta, Baltimore, and Seattle.

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Cities with sharpest increases in insurance costs include Chicago, Orlando, and San Francisco.

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Factors that impact car insurance costs include age and make of the vehicle, driving record, and city of residence

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