Will Floridians see car insurance price relief in 2024? – South Florida Sun Sentinel

Florida motorists are hoping that auto insurance rates in 2024 follow the old adage that what goes up must surely come down.

Of course, the term “down” is subjective when it comes to insurance costs, with the most optimistic definition meaning a lower rate of increase this year compared to the past two years.

And has it ever increased. According to personal finance website, the average cost for full coverage in Florida increased from $2,762 in 2022 to $3,941 in January. That’s a 42.7% hike over two years.