Florida Third Most Expensive State To Own A Car

MIAMI, Florida – Florida has secured an unenviable spot as the third most expensive state in the U.S. to own a car, according to a recent analysis by Forbes Advisor. Tied with Montana, the Sunshine State’s high costs are driven primarily by sky-high insurance rates, making car ownership a financial burden for. many residents.

The Forbes study, which evaluated factors such as insurance premiums, gas prices, repair costs, and used car prices, found that Florida drivers face an average annual full coverage insurance cost of $3,865—the highest in the nation. This steep price tag is attributed to a combination of uninsured drivers, frequent severe weather events, and congested urban areas that elevate accident risks. By comparison, California and Nevada, ranked first and second respectively, also grapple with high costs but fall short of Florida’s insurance expense peak.

Beyond insurance, Florida’s gas prices add to the tally, averaging $3.27 per gallon for regular fuel, placing the state 12th nationally. Gas taxes, at 38.6 cents per gallon, rank similarly high.

Meanwhile, repair costs for check engine light issues average $395.27, and used cars carry a price tag of $30,796—moderate figures that still contribute to the overall cost burden.