Florida Politics: Ron DeSantis blames high car insurance rates on ‘Bidenomics.’ That doesn’t tell the whole story

Is the federal government to blame for Florida having some of the highest car insurance costs in the U.S.?

After March’s Consumer Price Index report showed a 3.8% year-over-year increase in inflation, Gov. Ron DeSantis blamed federal spending under President Joe Biden, saying it’s “the wages of Bidenomics.”

And he seemed to blame Washington for a problem particularly affecting Floridians.

“The No. 1 individual itemized increase for inflation was auto insurance. This print today for just a month had a massive increase and that’s really, really difficult,” DeSantis said.

The Governor made the comments in St. Petersburg. They come after months of media scrutiny on rates that are as high as anywhere in the country.

According to Bankrate’s True Cost of Insurance Report, Florida has the second-most expensive “true cost” of auto insurance in the country, trailing only Louisiana. The average annual premium is just shy of $4,000 and is approaching 6% of people’s wages, a burden up nearly 0.8% year over year in terms of income allocation.

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