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Florida ranks as third most expensive state to own a car

Automotive repair bills are one of the reasons why Florida ranks among the nation’s most expensive states for car owners.

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Automotive repair bills are one of the reasons why Florida ranks among the nation’s most expensive states for car owners.

A one-two punch of higher insurance and repair bills are behind Florida ranking as the third most expensive state — at $2,516 a year — in the country for car owners.

A survey by financial web site Bankrate.com found that Florida ranked 10th nationally in car repair costs, paying about 10 percent more for parts than the typical U.S. vehicle owner. And Florida drivers in the state paid an average of $1,124 for their policies between 2007 and 2011, according to data from the National Association of Insurance Commissioners. That's 27 percent more than the average U.S. vehicle owner paid over the same span of time.

The cheapest state for car owners? Iowa, at $1,942 or 13 percent below the national average.

Bankrate ranked all 50 states and the District of Columbia based on the cost of repairs, insurance and gasoline.



5 most expensive states for car owners

StateAnnual amount spentReason(s) why
1. Wyoming$2,705Drive an average

of 16,948 miles a year
2. Louisiana$2,555Highest insurance rates
3. Florida$2,516High insurance,

repair bills
4. Mississippi$2,497Drive an average

of 13,414 miles a year
5. New Jersey$2,421High repair bills

Source: BankRate.com

Florida ranks as third most expensive state to own a car 08/12/14 [Last modified: Wednesday, August 13, 2014 8:19am]
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