Car Insurance Rates In Hurricane States Jumps
Car insurance in hurricane prone states is high and getting higher, a new study shows. There is nothing about the news that should be surprising. People in these states suffer losses based on damage to their automobiles as much as on their houses.
*Storm Destruction In South
Insurify listed the “projected cost of full coverage” by state. The average nationally is expected to be $2,435 this year.
Four of the top 10 states on the list are often hit by hurricanes and have more expensive car insurance than most. The price in South Carolina is $3,603. The price in Florida is $3,484. In Georgia the price is $3,052. And, in Louisiana $2,944.
Home Insurance Similar
The auto figures look very much like the changes in home insurance rates in several others in the same areas. The risk of hurricanes is so great in Florida and Louisiana that some home owners cannot get residential real estate insurance at all. This drives down home prices sharply and rapidly. And, eventually some of these people will be driven north to a more temperate climate.
Hurricane Helene destroyed 138,000 cars across six states. Hurricane Milton destroyed another 120,000. There is no reason that large hurricanes that hit the region will do any less damage.
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