When it comes to auto insurance, Florida is one of the most expensive states in the nation. Drivers in the Sunshine State pay an average of $2,364 annually for full coverage and $1,101 annually for minimum coverage auto insurance.
There are many reasons behind the steep cost. As of 2019, Florida had nearly 15.6 million licensed drivers, according to the Insurance Information Institute. Combine that with the tourists who pass through the state and Florida has very busy roadways.
If you are buying car insurance in Florida, you should have an understanding of the average cost of insurance in your state. Bankrate utilized Quadrant Information Services to acquire current premium information and then analyzed the numbers by company, city, age and driving history. Having this information as you search for car insurance in Florida could allow you to make a more informed decision when choosing a company.
How much does car insurance cost in Florida?
Florida drivers pay an average of $2,364 per year for full coverage and $1,101 per year for minimum coverage car insurance. Florida drivers pay quite a bit more than the national average annual premiums, which are $1,674 for full coverage and $565 for minimum coverage. The Sunshine State is one of the most expensive states in the nation for car insurance.
There are numerous factors that auto insurance companies use to determine your premium, including your age, driving record, geographic location and the type of vehicle you drive. Since these factors vary from one person to another, premiums will also vary.
Florida car insurance rates by company
Every car insurance company in Florida has its own rating system. If you are shopping for insurance, it is generally a good practice to obtain quotes from several insurance providers to compare them. To give you an idea of what you might expect to pay for car insurance in Florida, below are the average annual premiums for minimum coverage and full coverage for some of the largest insurance companies in the state.
|Car insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
Although finding the cheapest auto insurance in Florida might be a priority for many people, bear in mind that insurance is more than price. You may also want to compare coverage offerings, discounts, customer service ratings and financial strength when choosing an insurance company.
Cost of living in Florida and car insurance
When shopping for the best car insurance rates in Florida, it’s important to factor in your other expenses so that you’re looking at your total living costs. The graph below shows the average annual cost of living in Florida, including the average cost of car insurance. Use this graph as a guide to help determine your overall expenses so that you can decide what insurance rates fit in your budget.
Florida car insurance rates by city
Within a state, your ZIP code further influences the premium you will pay for car insurance. Even though car insurance is generally expensive in Florida, the following table demonstrates that your rates may be higher or lower than average depending on what city you live in. Rates change by city based on population density, traffic volume and vulnerability to theft, among other factors.
|City||Average annual premium for full coverage||Percentage difference in average annual premium|
|West Palm Beach||$3,101||31%|
|Port St. Lucie||$2,300||-3%|
Auto insurance premiums can also vary by ZIP code, so your premiums may be higher or lower than the city average premiums listed above depending on your specific location within a city. Moving is not the most practical way to change your auto insurance premium, but if you are already considering a move, you may want to take your desired area’s average premiums into account when you analyze your new budget.
Florida car insurance rates by age
Age is another factor that insurance companies use to determine your premium. Younger drivers, particularly those under 25, are typically charged higher premiums because they are inexperienced and more likely to get into accidents based on actuarial data.
|Age||Average annual full coverage premium in Florida|
*16-year-olds on their parents’ policy
As demonstrated by the table above, teen drivers pay some of the highest premiums. As drivers gain more experience, their average premiums gradually lower. Premiums typically climb again at age 70, as older drivers may be at a higher-than-average risk of accidents.
Florida car insurance rates by driving record
One of the biggest factors that impacts your car insurance premiums is your driving history. If you have accidents, speeding tickets or a DUI on your record, your insurance premiums will likely be raised accordingly. The following table indicates how much you can expect to pay in Florida if you have incidents on your driving record.
|Driving incident||Average annual full coverage premium in Florida||% increase in average annual premium|
Tickets, accidents and DUIs generally impact your car insurance premiums for three to five years, depending on your insurance company. If you are unsure how long a surcharge might stay on your policy, you can call your insurance provider to find out.
How to save on car insurance in Florida
Although car insurance premiums in Florida are higher than average, there are ways to find cheaper auto coverage. In Florida, you may be able to save on your auto insurance rates by:
- Shopping around: Every insurance company offers different rates, so getting quotes from several companies can help you find the coverage you need for the best price.
- Taking advantage of discounts: Most insurance companies offer discounts to help policyholders lower their premiums. You may be able to save by choosing paperless statements or having an anti-theft device on your vehicle, for example.
- Usage-based insurance: Pay-per-mile and telematics are programs that offer drivers the option of having premiums tailored to their individual driving patterns. At their simplest, pay-per-mile programs record miles driven, generally offering those who drive less than average a lower rate. But a growing number of insurers are offering more complex programs, called telematics, that take driving behavior into account.
- Maintaining a good driving record: Since incidents on your driving record tend to increase your premiums, having a clean driving record can save you money on your car insurance.
- Bundling your policies: Combining your car insurance with other policies, like a homeowners insurance policy, from the same insurer might save you money on both policies.
- Raising your deductibles: A deductible is the amount you pay out of pocket after an accident for damage to your vehicle. If you have full coverage, you have two deductibles: one for collision and one for comprehensive. Generally, the higher your deductibles, the lower your annual premium. However, be sure you choose a deductible level that you feel comfortable paying if you are in an accident.
Frequently asked questions
What is the best car insurance company in Florida?
Every driver brings a unique set of circumstances to their auto insurance search, so the best auto insurance company will be different for everyone. It may be worthwhile to determine what factors matter most to you, like having a low premium or a mobile app. Once you know what you want from an insurance company, you can obtain multiple quotes to help you find the coverage you need at a competitive price.
How much insurance is required in Florida?
- $10,000 in property damage coverage
- $10,000 in personal injury protection (PIP) coverage
Florida does not technically require you to carry insurance for bodily injury coverage (showing proof of a bond, for instance, could satisfy the “financial responsibility law,” but you may only qualify if your net worth is equal to or greater than $40,000), but most drivers will likely satisfy the requirements by obtaining insurance coverage. If you do purchase bodily injury coverage ,you must purchase at least the following limits:
- $10,000 in bodily injury coverage per person
- $20,000 in bodily injury coverage per accident
Uninsured motorist coverage must be offered but can be declined in writing.
You may want to consider higher liability limits or full coverage to better protect yourself in the event of an accident.
How do I get cheaper car insurance in Florida?
Most insurance companies in Florida offer discounts to help you lower the cost of your policy. Taking advantage of as many discounts as you can, maintaining a clean driving record and bundling multiple policies from the same insurer are some of the best ways to save on car insurance.
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.