Marco Rubio keeps ripping high insurance costs

Even Florida’s Senior Senator isn’t immune from stratospheric costs of home and car insurance.

U.S. Sen. Marco Rubio continued to raise concerns in yet another below-the-radar interview this week. During a segment on “A Business Minute with Lily Lopez,” the third-term Republican from South Florida zeroed in on high prices in those sectors, noting that in South Florida “our car insurance is more expensive than anybody else’s, that the property insurance is more expensive than anybody else’s.”

This was part of a larger statement, in which the Senator also bemoaned the high price of homeownership amid an economy “changing very fast.”

But Rubio’s concerns about auto and homeowners’ insurance have become a recurrent theme for those tracking the Senator closely.

During a Fox News interview on “The Faulkner Focus” last week, he again complained about the high cost of living, extending his gripes to the cost to insure an automobile in the Miami metro, which is as high as anywhere in the country.

“I happen to live in what I believe is the first, or after Honolulu, the most expensive community in America with regards to inflation and one of the things that’s driving it now is auto insurance,” Rubio said.

The numbers bear that out for his state and particularly his metropolitan area.

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. Miami residents pay on average $4,213 per year, up nearly $800 annually year over year. It is the second most expensive auto insurance major metropolitan market in the country, according to the analysis.

The Senator had complained back in February about the cost of homeowners insurance spiking for him, meanwhile.

During an interview with WFME in Orlando, Rubio said his homeowners policy rates had “seen probably a 300% increase in the last two years.”

He didn’t blame the cost of homeowners’ coverage on inflation writ large in that interview, however, saying it’s a “state-regulated market” and adding that he didn’t “know anyone who’s not impacted by it.”




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