Florida drivers pay 52% more than the national average for auto insurance

It is not only homeowners' insurance costs that are impacting Floridians wallets.

A recent study ranks Florida as the state with the highest auto insurance premiums in the United States and projected to get worse.

The study by FINN, shows the average costs of Florida drivers for automobile insurance is now $2,560 each year.

The national average for auto insurance? $1,682 annually, meaning Floridians pay almost $1000 ($878) more a year, or 52 percent, to insure their automobiles.

One of the reasons, according to the report is auto insurance costs will increase as climate change causes more severe weather events, increasing the risk of damage to vehicles.

But the main reason, says FINN, is that Florida has the highest rate of uninsured drivers across the country. According to the report, about 20 percent of Florida drivers "lack even minimum liability insurance, pushing costs onto insured drivers through higher premiums."

And is about to get worse.

Over the last decade, auto insurance premiums in the Sunshine State have increased more than any state in the US, roughly 88 percent.

The projections for the annual cost of auto insurance in Florida is that costs will rise to an estimated average of $4,813 annually by 2033.

For the complete FINN report, click here.