Cheapest Car Insurance in Florida (2024 Rates) (2024)

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State Farm offers the cheapest car insurance rates in Florida. On average, you can expect the rates from the company to be $650 per year for minimum liability policies and $1,813 per year for full coverage plans.

Cheapest Car Insurance Rates In Florida

Rates for car insurance vary depending on many factors, so the cheapest rates for you will depend on your unique situation. Below we’ve broken down the lowest rates for each category of coverage.

Cheapest Car Insurance Companies in Florida

Through our research, we’ve found the 5 cheapest companies in Florida are:

1. State Farm
2. Geico
3. Travelers
4. Progressive
5. Mercury

Click on any of our top providers listed to learn more about their offerings. Below, we break down the cheapest large and medium-sized insurance companies in Florida. Our average rates are based on the profile of an unmarried 35-year-old driving a 2022 Toyota Camry, as it is representative of a large group of drivers unaffected by factors that raise rates.

Cheapest Large Insurance Companies in Florida

According to J.D. Power, a large insurer is one that has written $4.5 billion or more in direct premiums for personal auto lines. Among large insurance companies, State Farm, Geico, Travelers, Allstate and Progressive are the cheapest in Florida. You’ll find the lowest rates in the state overall with these providers.

*Our research team considers nationwide factors when scoring providers. The ranking of providers in this table is specific to car insurance in Florida.

Read more: Largest Auto Insurance Providers

Cheapest Mid-Size Insurance Companies in Florida

A mid-sized insurer is one that has written between $1 and $4.4999 billion in direct premiums for personal auto lines, according to J.D. Power. Among mid-size providers, we found American INTL Group (AIG), National General and Mercury Insurance provide the cheapest rates for Floridians. You can compare their average premiums and our cost ratings below.

Florida drivers face some of the most expensive car insurance rates in the country, according to rate data. The average full-coverage premium in the state is $3,244 per year — that’s 61.6% more expensive than the national average. However, it’s possible to find rates as low as $151 per month or $1,813 per year for a full-coverage policy.

In the sections that follow, you’ll find premium estimates from Quadrant Information Services for Florida drivers.

Cheapest Liability Car Insurance in Florida

At rates of $54 per month or $650 per year on average, State Farm typically offers the cheapest liability car insurance in Florida:

Read more: Cheapest Liability-Only Auto Insurance

Cheapest Full-Coverage Car Insurance in Florida

State Farm tends to offer the cheapest full coverage in Florida, costing an average of $151 per month or $1,813 per year:

Read more: Cheapest Full-Coverage Car Insurance

Cheapest Car Insurance for Young Drivers in Florida

Young drivers tend to pay the most for car insurance coverage, and in 2024 they can find the best rates with State Farm and Geico, according to research done by the MarketWatch Guides team. The tables in these sections show the cheapest full-coverage car insurance options for Florida drivers aged 16 through 25.

Cheapest Florida Car Insurance for 16-Year-Olds

Our research found that State Farm offers the cheapest rates on average for 16-year-old drivers in the state at $480 per month.

Read more: Best Cheap Car Insurance For 16-Year-Olds

Cheapest Florida Car Insurance for 17-Year-Olds

According to our research, Geico tends to be the cheapest option on average at a cost of $319/mo for 17-year-old drivers.

Read more: Best Cheap Car Insurance For 17-Year-Olds

Cheapest Florida Car Insurance for 18-Year-Olds

Geico has the cheapest rates for 18-year-olds at $307 per month. Below you can view the lowest cost providers for this group:

Read more: Best Cheap Car Insurance For 18-Year Olds

Cheapest Florida Car Insurance For 19-Year-Olds

At a monthly cost of $290 per month on average, Geico offers the lowest rates for 19-year-olds in Florida.

Read more: Best Cheap Car Insurance For 19-Year Olds

Cheapest Florida Car Insurance for 21-Year-Olds

In the Sunshine State, Geico offers the cheapest rates on average for 21-year-old drivers at $219 per month.

Read more: Best Cheap Car Insurance For 21-Year-Olds

Cheapest Florida Car Insurance for 25-Year-Olds

Our research shows State Farm costs $171 per month, which is the cheapest on average for 25-year-old drivers in Florida.

Cheapest Car Insurance In Florida For Seniors

Geico offers the cheapest car insurance in Florida for seniors with average annual rates of $1,727 for full coverage. Below we’ll break down costs for auto insurance in the state for 65-75 year olds.

Read More: Cheapest Car Insurance For Seniors

Cheapest Car Insurance In Florida For 65-Year-Olds

At average rates of $141 per month for full coverage, Geico is the cheapest provider in Florida for 65-year-olds. This pricing is 48% lower than the state average of $270 per month.

Cheapest Car Insurance In Florida For 75-Year-Olds

Geico is the cheapest provider in Florida for 75-year-olds with an average monthly premium of $147. This sits at around 46% cheaper than the state average of $270.

Cheapest Car Insurance In Florida For High-Risk Drivers

State Farm offers the cheapest overall car insurance for bad driving records. If you have bad credit, National General has the cheapest rates. The sections below provide monthly and annual average rates for drivers who fall into one of these categories.

Read More: Best Cheap Car Insurance For High-Risk Drivers

Cheapest Florida Car Insurance for Drivers With a Speeding Ticket

State Farm offers the cheapest car insurance for Florida drivers with a speeding ticket, with an average full–coverage cost of $1,939 per year.

Cheapest Florida Car Insurance for Drivers With a Recent Accident

State Farm offers the cheapest full coverage for drivers in Florida with a recent accident at an average of $2,075 per year or $173 per month.

Read More: What Is Accident Forgiveness Coverage?

Cheapest Florida Car Insurance for Drivers With a DUI

State Farm offers the cheapest full coverage for drivers in Florida with a DUI at $1,939 per year or $162 per month on average.

Cheapest Florida Car Insurance for Drivers With Poor Credit

National General offers the cheapest full coverage for drivers in Florida with bad credit at an average cost of $3,718 per year.

Read More: Cheapest Car Insurance For Bad Credit

Cheap Car Insurance Quotes in Florida

One of the best ways to go about finding cheap car insurance in the state of Florida, like any state, is to compare multiple providers and look for deals in your area. We also suggest talking to an insurance agent to learn more about how to save on auto insurance in the state.

When getting a quote from an auto insurance provider, companies determine your rates based on set variables.

Here are some of the most significant factors insurance providers to determine premiums in Florida:

• Your age
• Your location
• The gender listed on your driver’s license
• Your driving history
• Your credit score
• Your marital status
• The make, model, year and mileage of your vehicle
• The deductible you choose

Read More: Compare Car Insurance

Cheap Car Insurance Quotes In Florida By ZIP

Below you can get personalized cheap auto insurance quotes for your location in Florida.

Car Insurance Discounts in Florida

Below are some car insurance discounts available with our top picks for the cheapest car insurance in Florida:

Here’s more information on the standard types of discounts offered by the best car insurance companies:

• Multi-policy: This discount applies if you bundle two or more insurance policies with the same company.
• Multi-vehicle: Insuring multiple cars under the same policy or combining auto insurance policies earns you this discount.
• Military: This generally applies to both veterans and active-duty military members.
• Senior: This often applies to policyholders who are 55 or older.
• Homeowners: If you own a home, you may qualify for this discount.
• Good student: This discount is usually for college and high school students under 25 who maintain a B average in their courses.
• Good driver: You can save money by maintaining a clean driving record (with no at-fault accidents, DUI, or traffic tickets in the last three years).
• Defensive driving: Those who take a qualifying defensive driving course can get a discount.
• Driver training: Get a discount by taking a driver education training course.
• New car: Drivers who purchase new cars, typically no more than three model years old, get a discount.
• Safe car: This typically applies if your vehicle has safety features like anti-theft technology.
• Paperless: Receive a discount by opting to receive your documents through email.
• Pay-in-full: Save on your car insurance premium by paying in full up front.

The cheapest car insurance companies in Florida include State Farm, Geico, Travelers, Progressive and Mercury. Below, we go into more detail about each company’s offerings, reputation, customer ratings and history.

Like many parts of the country, Floridians have seen their rates go up significantly over the past few years. According to our rate data, the average premium for a full-coverage policy jumped by 10.1% to $3,244 in 2023, adding even more to some of the nation’s highest auto insurance rates. Minimum coverage in Florida averages around $1,385 per year or $115 per month, which is about 121% higher than the national average.

However, your rate will vary based on factors including your age and the city you live in. We’ll further break down how those factors impact your auto coverage costs below.

Read More: Average Car Insurance Cost

Florida Car Insurance Cost by Age

Below you can compare average rates for drivers from 16-55 in the state:

Florida Car Insurance Cost by City

Typically, drivers in cities like Miami and Tampa pay more for coverage than drivers in more rural parts of the state. The table below shows the average full coverage rates for 25 cities in Florida, based on a married 35-year-old driver with good credit and a clean driving record:

Florida Car Insurance Rates vs. Other States

According to our rate data, Florida is the second most expensive state to get full coverage car insurance and the most expensive state to get minimum coverage policies. Below you can compare average rates for each state:

Read More: Car Insurance Rates By State

Car insurance companies typically base their rates on the relative risk of having to pay out claims and the projected cost of those claims. That means that as risk factors increase, premiums do too. And when it comes to Florida, several risk factors come into play.

• According to data from the Insurance Information Institute, Florida ranks fourth among all states in the country for total vehicles stolen as of 2022, and saw a 6% increase in thefts from 2021.
• Natural disasters pose a huge property damage threat in Florida. The Federal Emergency Management Agency (FEMA) Expected Annual Loss (EAL) rating scores states based on expected property damage losses. In this rating, Florida has several areas in the “very high” risk category.
• The risk of damages from natural disasters in Florida is increasing. Between 1980 and 2023, the state has had 81 billion-dollar disasters, totaling over $380 billion in costs. This makes Florida the state with the second most billion-dollar natural disasters behind Texas. Florida experienced more natural disasters in 2023 than it did in the previous three years.

How To Get Cheaper Auto Coverage in Florida

Although car insurance is expensive in Florida compared to the rest of the country based on our team’s research, finding the lowest rates available to you can still save you considerable money on coverage. There are a few steps you can take to find some of your most affordable premiums:

• Compare quotes: No two drivers are the same and insurers can vary widely on the rates they offer drivers in different categories. The same company that offers your neighbor the cheapest rates may not have the lowest prices for you. It’s good practice to get quotes from multiple providers and compare them to find the cheapest policy.
• Increase your deductible: A low deductible can offer peace of mind knowing you won’t have to pay a large sum out of pocket toward covered repairs. However, it can also drive up your premium. If you need to save money now, raising your deductible is a quick and effective way to do it.
• Drop unnecessary coverage: Add-ons like rental car reimbursem*nt and roadside assistance are nice to have when you can afford them. However, if your budget is tight due to increasing rates, dropping these options could bring your rate down while keeping your primary coverages intact.
• Reduce your coverage limits: Another way to possibly reduce your rates is to lower the limit of what your insurer will pay out on a claim. While this can bring your premiums down in a hurry, it also leaves you at significantly more financial risk in the event of an accident or other loss — making it more of a last-resort tactic than the others on this list.

Florida Car Insurance Requirements

The required auto insurance in Florida includes personal injury protection (PIP) and property damage liability insurance. The state doesn’t require bodily injury liability insurance, which covers other parties’ medical expenses, funeral expenses and lost wages if you cause an accident.

Minimum Personal Florida Auto Insurance Requirements

The minimum Florida car insurance coverage requirements under state law are as follows:

• PIP: $10,000 per accident
• Property damage liability: $10,000 per accident

We typically recommend carrying more auto insurance than the state minimum coverage. Though the insurance premium may be burdensome, having full coverage with higher coverage limits can save you money in the long run.

Florida Commercial Auto Insurance Requirements

If you have a business vehicle, you’re required commercial auto insurance coverage that depends on the weight of the vehicle and its use:

• Passenger Vehicles: $100,000 bodily injury, $300,000 limit per accident for bodily injury, and a $50,000 per accident for property damage is required. You can also satisfy this requirement with $300,000 of combined single limit coverage (CSL).
• Property carriers at 26,000-34,999 pounds: $50,000 CSL
• Property carriers at 35,000-43,999 pounds: $100,000 CSL
• Property carriers at 44,000 or more pounds: $300,000 CSL

Is It Illegal to Drive Without Car Insurance in Florida?

Driving a car without insurance is illegal in Florida, and the state has severe penalties for doing so. If you’re caught driving without the required insurance, the state can suspend your registration and driver’s license for up to three years. Getting these reinstated can cost up to $500, and Florida doesn’t have a temporary licensing program or make exceptions for hardships.

Driving in Florida

The safety of Florida roads also plays a role in auto insurance premiums. According to the Florida Department of Highway Safety and Motor Vehicles, there were 393,304 crashes in Florida in 2023. Out of those collisions, 3,157 were fatal.

With the cost of coverage going up and the number of providers in the state dwindling, drivers in Florida have fewer and fewer options for an affordable auto policy. But that doesn’t mean they don’t exist. By using our rate estimates for drivers in similar risk categories and comparing car insurance rates from multiple providers, you can find the cheapest coverage for you and your vehicle.

If you need to bring those rates down even more, you can consider some of the suggestions we listed above, such as increasing your premium or going without less essential coverage options.

Shop For Car Insurance In Florida

When shopping for the cheapest car insurance in Florida, we recommend getting quotes from multiple providers in order to get the lowest rate and best coverage for your situation.

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

• Cost: Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
• Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
• Reputation and experience: Our research team considered market share, ratings from industry experts and years in business when giving this score.
• Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
• Customer experience: This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.

Our credentials:

• 800 hours researched
• 45 companies reviewed
• 8,500+ consumers surveyed

**Data accurate at time of publication.