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A decade from now, Florida is expected to be the fifth most expensive state in which to own a car, according to research conducted by Zutobi, a driver education company.
Using car value depreciation, rising fuel and insurance costs as measuring sticks, Zutobi did a state-by-state calculation of what it will cost to own a F-150 pickup truck, the best-selling vehicle in the United States, in 2031. Its researchers found it will cost Floridians $6,582 to own a F-150 10 years from now — an increase of $959. Only Louisiana, Nevada, California and Hawaii are ranked higher.
Much of the increase can be attributed to Florida’s rapidly rising auto insurance rates. Sunshine State residents already pay the highest premiums in the country, and rates have been rising 41% annually. In 2021, Floridians paid, on average, $2,082 for auto insurance. That’s more than $1,400 above the national average of $654.
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