Florida among the most expensive states to own a car

A recent report from 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 gas prices, annual toll costs, annual maintenance costs, and cheaper car insurance prices in each state.

Without a doubt, it's not cheap to keep a car on the road. You have to pay for gas, insurance, car maintenance, and much more, noted News Channel 8. However, depending on where you are in the U.S., you may be able to save some money on your vehicle's usual expenses.

In the case of 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 places Florida among the top states on the list due to high rates of accidents and fraud, which increase insurance premiums. Comparatively, residents of states like South Dakota enjoy much lower premiums, around $614 a year for full coverage.

The price of fuel in Florida is also above the national average, which significantly raises the annual operating cost of a vehicle.

Despite the fluctuations, drivers in the state generally pay more per gallon compared to other states. This additional cost adds to the already high insurance expenses, creating a significant financial burden for vehicle owners.

The maintenance and repair costs in Florida are notably high, partly due to the warm and humid climate that accelerates vehicle wear and tear.

This increases the frequency of necessary services and repairs, with service rates that are usually higher than those in other states. In comparison, states like Connecticut present 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 they are generally higher than in other states. In states like Delaware, the average toll cost per vehicle is significantly high, around $1,077 per year, while in California, the average cost is $497.

The MoneyGeek report assigned a cost score from 0 to 100 to each state, with 0 being the most expensive and 100 the cheapest. Florida received a low score due to its high insurance and maintenance costs.

Maryland, with a score of 0, was ranked as the most expensive state, followed by Oregon and other states like Connecticut and Delaware. In contrast, several Midwest states, such as South Dakota, Nebraska, and Wisconsin, received the lowest scores, indicating lower costs for drivers.

To mitigate these high costs, drivers are advised to compare insurance prices, 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, along with survey results that for years have ranked Florida drivers among the worst in the United States, or those that highlight the challenging task of driving on its streets and highways, paint a concerning picture for car owners in the State.