State Farm’s average annual full coverage premium in Florida is the cheapest at $1,739. For comparison, the average annual cost of car insurance in Florida is $1,101 for minimum coverage and $2,364 for full coverage. Although Florida’s average premiums are relatively high — it is one of the most expensive states for car insurance in the nation — there are ways to find more affordable rates.
The cheapest car insurance companies in Florida
Bankrate’s insurance editorial team obtained current premiums from Quadrant Information Services to help you find the cheapest car insurance in the Sunshine State. In addition to premium, we also reviewed each insurer’s financial strength scores and customer satisfaction ratings. These companies provide cheap average rates to Florida drivers but also offer highly-rated customer service and solid financial strength. Through our meticulous research, we have identified some of the cheapest auto insurance companies in Florida.
The cheapest companies for minimum coverage in Florida
Geico and State Farm offer the cheapest average minimum coverage premiums in Florida, according to our analysis. Minimum coverage car insurance tends to be cheaper than full coverage due to its lower levels of financial protection. Many insurance professionals recommend that you purchase higher limits if you can afford to, as minimum coverage offers very little protection.
These are some of the cheapest companies for state minimum limits in Florida:
|Car insurance company||Average minimum coverage premium (annually)||Average minimum coverage premium (monthly)|
The cheapest companies for full coverage in Florida
Our investigation reveals that State Farm and Geico also take the top spots for the cheapest full coverage in Florida. Full coverage car insurance means you are adding comprehensive and collision coverages, which provide financial protection for damage to your vehicle.
If you are looking for full coverage auto insurance on a budget, you may want to consider these carriers:
|Car insurance company||Average full coverage premium (annually)||Average full coverage premium (monthly)|
Events that can impact your cheap rates in Florida
Life changes rapidly, and when it does, your auto insurance needs may change as well. Life events can present an opportunity to shop your car insurance with different carriers to make sure your company and coverages still fit your needs. You may want to consider shopping for a cheaper policy if you have recently:
- Added a teen driver: Teen drivers are considered high-risk drivers due to their inexperience behind the wheel. Because of this, insurers tend to charge higher premiums for teen drivers. If you have a young driver on your policy, you may want to get quotes from multiple companies and take advantage of teen driver discounts, like a good student discount, to offset your premium increase.
- Received a speeding ticket: Speeding can increase the risk of causing an accident and make accidents more severe. Because of this, you could see an increase in your car insurance premium. But because each insurer approaches rating differently, shopping your coverage could help you find a company that does not penalize you as heavily for your ticket.
- Involved in an at-fault accident: At-fault accidents tend to increase your insurance rates for three to five years. But just like with speeding tickets, not all companies rate at-fault accidents in the same way, and you may be able to find a company that offers lower rates even with your accident.
- Deemed a high-risk driver: Numerous scenarios can cause insurance companies to view you as a high-risk driver, including having multiple accidents or tickets, a lapse in coverage or a DUI conviction. While high-risk drivers may have limited options for car insurance, you could still shop around and take advantage of discounts to lower your premium. You could even consider switching to owning a cheaper vehicle.
Cheapest cities in Florida for minimum coverage
Your geographic location has a significant impact on your premium, even within a state. Individual cities often have different rates based on the risk factors in that area. Even your ZIP code can change your premium. Your area’s likelihood of accidents, the cost of medical care in your area and the population density can all impact premiums. Urban areas like Jacksonville and Miami tend to have higher premiums due to crowded roads and a higher cost of living.
Based on our research, the cheapest cities for minimum coverage in Florida are:
|City||Minimum coverage average annual premium||Minimum coverage average monthly premium|
|Ponce de Leon||$707||$59|
Cheapest cities in Florida for full coverage
Location can also impact full coverage premiums. Like with minimum coverage, more densely populated areas or areas with heavy tourism, like Tampa, generally have higher premiums. But because full coverage includes coverage for damage to your vehicle, more factors affect the price you pay. The incidence of vehicle theft, damaging weather events and the cost of parts and labor for vehicle repairs could increase your full coverage premium.
If you live in one of these four cities, you may pay less for full coverage than other areas of Florida:
|City||Full coverage average annual premium||Full coverage average monthly premium|
|Santa Rosa Beach||$1,752||$146|
Minimum coverage requirements for Florida drivers
Like most states, drivers in Florida have to carry at least a minimum amount of coverage to drive legally. Because Florida is a no-fault state, these include:
- $10,000 personal injury protection (PIP)
- $10,000 property damage liability per accident
Bodily injury liability, which is a required coverage in most states, is not required in Florida. However, Florida drivers must prove their ability to pay for damages they cause in an accident. While you can do this without purchasing bodily injury coverage — you could post a surety bond, for example, if your net worth is high enough to qualify — insurance is generally the easiest way to satisfy this “financial responsibility law.”
The minimum requirements for bodily injury coverage, if you choose to purchase insurance, are:
- $10,000 bodily injury liability per person
- $20,000 bodily injury liability per accident
Florida insurance companies must also offer you uninsured motorist coverage, but you can decline this coverage in writing.
Although minimum coverage often results in lower premiums, most insurance agents recommend that you purchase higher limits to obtain greater financial protection. Additionally, minimum coverage does not include comprehensive or collision, which pays for damages to your vehicle. Policies with these coverages are often referred to as “full coverage” policies. If you finance or lease your vehicle, your financial institution will likely require you to carry full coverage.
Here is how to find (and keep) cheap car insurance in Florida
Although Florida’s average rates are relatively high, there are ways to find affordable rates. You may want to:
- Understand your needs: Car insurance is personalized. One driver might prioritize a policy with high liability limits to protect their assets, where another driver might need the cheapest policy possible to fit within a tight budget. Understanding your coverage needs can help you choose your options wisely as you get quotes.
- Shop around: Auto insurance providers charge different rates. One carrier might more heavily penalize you for an at-fault accident, for example. Additionally, different carriers offer different optional coverages, discounts and policy features. Getting quotes from multiple car insurance providers could help you find the policy you need at the cheapest price.
- Utilize discounts: Most auto insurance companies provide discounts to help you lower your premium. Finding a company that has discounts that apply to your unique situation could help you find affordable rates. Common discounts include multi-policy, paperless, safe driver and paid-in-full.
Finding a cheap car insurance policy is exciting, but maintaining your price is an important next step. Car insurance rates can change yearly, but there are steps you can take to help keep your rates as affordable as possible:
- Maintain a clean driving record: Causing accidents, getting tickets or being convicted of DUIs can all increase your premium. Avoiding these incidents can help you avoid expensive surcharges on your policy. You could even earn a discount the longer you go with a clean driving history.
- Improve or maintain your credit score: Your credit rating can impact your car insurance premiums. Because drivers with poor credit tend to file more claims, insurance companies charge them higher premiums to compensate for the risk. Improving or at least maintaining your credit score can help you maintain affordable rates.
- Occasionally shop your policy: Insurance experts generally do not recommend that you shop your policy or change providers every year — you could miss out on loyalty discounts. However, occasionally shopping can help you to determine if your insurance provider is still the best fit for your coverage and budget needs.
Frequently asked questions
What is the best car insurance company in Florida?
The best car insurance company in Florida will be unique to your needs. Because situations differ, your car insurance should be tailored to your individual circumstances. For example, if you have a teen driver to insure, the best company for your household might be different from the best company for a driver with a DUI conviction. Understanding your needs and getting multiple quotes could help you find the right fit for you.
What happens if I drive without insurance in Florida?
It is illegal to drive without insurance in Florida unless you have satisfied the state’s financial responsibility law with a surety bond. Forgoing insurance coverage could lead to fines, driver’s license suspension and hefty out-of-pocket expenses if you cause an accident.
How do I get cheap car insurance quotes in Florida?
One of the best ways to find cheap car insurance is to get quotes from several carriers. You can often get quotes online or by phone, or you could consider visiting a local agency. You will need the name, dates of birth and drivers’ license numbers of every driver you need to insure, as well as the vehicle identification numbers (VINs) of each of your cars. Knowing what coverages you need can make the process faster, but a licensed insurance agent should be able to help you decide what options fit your situation. Once you have obtained quotes, you can compare premiums, coverages, discounts and third-party rankings to decide what company is right for you.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.