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Cheapest car insurance in Florida for 2024

Updated Jun 01, 2024

Based on Bankrate's research and analysis, Progressive, Geico and State Farm offer some of the cheapest car insurance rates in Florida.

The cheapest car insurance companies in Florida

Based on data sourced from Quadrant Information Services, Bankrate's insurance editorial team determined that the average rates for Florida car insurance are $1,094 for state-mandated minimum insurance and $3,467 for full coverage, which includes collision and comprehensive insurance. These rates are high compared to the national averages of $640 for minimum and $2,311 for full coverage. Bankrate has reviewed the cheapest car insurance companies in Florida to help you find affordable coverage for your own needs.

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Cheapest car insurance in Florida for minimum coverage

Like almost all states in the U.S., Florida has minimum insurance coverage requirements you must meet in order for you to be on the roads legally. Typically, minimum coverage is designed to financially protect the other driver, their passengers and their car if you are in an at-fault accident. However, Florida law does not require drivers to carry bodily injury liability coverage— each driver uses personal injury protection (PIP) if they are injured in an accident. When looking at the cheapest car insurance in Florida for minimum coverage, Geico and State Farm stand out. Both companies feature average rates that are below the state average. Allstate and Progressive also offer robust policy options at a reasonable price.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
$78
$937
- $157
$82
$981
- $113
$92
$1,104
+ $10
$107
$1,279
+ $185

Minimum coverage requirements for Florida drivers

Based on proprietary rate data provided by Quadrant Information Services, the average annual premium for a minimum coverage policy in Florida is $1,094. Drivers in Florida have to carry at least a minimum amount of coverage to drive legally. As Florida is a no-fault state, these include:

While bodily injury liability is not a state requirement in Florida, insurance experts recommend that drivers carry higher levels of liability for better financial protection. For example, you might do this without purchasing bodily injury coverage by filing a self-insurance certificate if your net worth is high enough to qualify. However, insurance is generally the easiest way to satisfy this financial responsibility law.

Drivers could face harsh penalties if they cause injuries in an at-fault accident without maintaining insurance that meets Florida’s minimum requirements. In these situations, the state may require you to file an SR-22 form, issue a fine and suspend your driver's license until you can prove financial responsibility by purchasing car insurance that includes bodily injury coverage.

If you choose to purchase bodily injury coverage or need it to maintain your SR-22, the minimum requirements are:

  • $10,000 bodily injury liability per person
  • $20,000 bodily injury liability per accident

Aside from Virginia, Florida is the only state that can mandate drivers convicted of severe infractions, such as DUIs, to acquire an FR-44 form. Like the SR-22, this form is needed to reinstate a driver's suspended license but requires even higher liability limits. The provisions for an FR-44 are:

  • $100,000 in bodily injury liability per person
  • $300,000 in bodily injury liability per accident
  • $50,000 in property damage liability per accident

Additionally, minimum coverage does not include comprehensive or collision coverage, which pays for damage to your vehicle. Policies with these coverage options 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.

Cheapest car insurance in Florida for full coverage

Full coverage insurance includes Florida's requirements for liability insurance and PIP coverage as well as collision and comprehensive insurance, which cover damages to your own car in the event of an accident. Many insurance experts would recommend that you consider full coverage if you can afford it so that you have more complete coverage. If you have a car loan or lease, your lender may require you to carry it. In Florida, the cheapest insurers for full coverage include Progressive and Geico, which both have average rates well under the state average.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for full coverage
$233
$2,792
- $675
$247
$2,969
- $498
$249
$2,993
- $474
$322
$3,868
+ $401

Cheapest car insurance in Florida for drivers with prior incidents

In general, Florida's cheapest car insurance rates will go to those who have a clean driving record. Insurers reward good drivers with low rates because they consider that they are less likely to file claims, making them a lower risk for coverage. If you have an infraction or two on your license, your insurer will assume that you may engage in risky behavior when driving, and thus will charge more for coverage.

Cheapest insurance companies for drivers in Florida with a speeding ticket: Geico and State Farm

Drivers in Florida who have received a speeding ticket conviction could expect to pay more for insurance rates. This is because insurers may see speeding as an indication of unsafe driving habits. Fortunately, a Florida speeding ticket typically only increases your insurance premiums for three to five years, depending on the carrier. If you maintain a clean driving record after your ticket, your rates may eventually decrease. Florida cheap car insurance for those with a speeding ticket on their record can be found at companies including Geico and State Farm, which has the lowest average rate for minimum coverage, and Allstate, with the lowest average rate for full coverage.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,104
$3,868
$1,237
$3,459
$1,259
$3,997
$1,595
$3,652

Cheapest car insurance for drivers in Florida with an at-fault accident: Geico

Car accidents can be stressful, especially if you are the at-fault driver. If you have an at-fault accident on your record, you may see significant increases in your premium when your policy renews. If you're searching for cheap Florida car insurance following an accident, you might consider getting a quote from the following carriers. In the table below, you’ll see the cheapest car insurance companies in Florida for those with one at-fault accident on their record, with Geico and State Farm coming in with the lowest average rates.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,237
$3,897
$1,493
$3,990
$1,731
$5,507
$1,826
$4,147

Cheapest car insurance in Florida for high-risk drivers: Allstate

Being deemed a high-risk driver may make it more difficult to find cheap insurance in Florida. High-risk drivers include those with multiple speeding tickets, at-fault accidents or a DUI on their record. It’s likely not impossible to find cheaper rates following a high-risk incident, but it may require diligence to find adequate coverage and an affordable premium. The table below demonstrates the average premiums offered by some of the major carriers in Florida for those with a DUI. However, please note that not all companies will offer a policy to all drivers with a DUI on their record, so please contact the company directly for more information. Once again, Allstate came in with the lowest average rates.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,411
$4,963
$1,439
$3,134
$1,473
$4,605
$1,791
$4,599
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Bankrate’s take: If you are a high-risk driver in Florida, you may be required to carry SR-22 insurance. This is actually not a type of insurance, but is instead a certificate that testifies that you have the minimum required car insurance to drive legally in the state. You are likely to need this certificate for a few years, after which it can be dropped. An SR-22 indicates to your insurance company that you are at a higher risk of infractions, and it may impact your premium rate. Florida also has the FR-44, which is required for major infractions such as a DUI.

Cheapest car insurance for young drivers in Florida

Florida insurers are allowed to consider the age of the driver when determining premium rates, and generally, they assign higher costs to young drivers. This is because they have less experience behind the wheel and are at a higher risk for accidents and risky driving. It is possible, however, to find reasonably priced car insurance for young adults. Consider the following companies, which have lower average rates for teens in a variety of circumstances.

Cheapest Florida car insurance for insuring a teen driver: Allstate

Adding a teen driver to your policy could have a sizable impact on the amount you pay for car insurance rates in Florida. Teen drivers have the highest crash rate of any age group on the road. Car insurance providers tend to charge higher premiums for teen drivers due to this higher risk and their lack of experience behind the wheel. Their rates may be even higher if they have incidents on their record such as an at-fault accident or DUI. Below you can see which carriers offer some of the cheapest average rates for a teen added to their parent’s policy. More affordable rates may be found by using student discounts and other discounts for young drivers.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,827
$5,747
$1,943
$4,634
$1,965
$6,140
$2,059
$5,873
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Bankrate’s take: Age and driving experience are two of the many factors used to rate car insurance policies in Florida. Statistics from the Centers for Disease Control show that young drivers have more accidents than any other age group. Insurers compensate for this by charging teen drivers more for their coverage, since they are more likely to file costly claims after an accident or other vehicle mishap. The good news? As drivers enter their 20s, their rates will begin to decline, especially if they show that they are safe and careful drivers.When analyzing rates for teen drivers, Bankrate decided to spotlight the premiums for 18-year-old drivers. We found that most drivers under the age of 18 are listed on their parent's policy, which provides them with a lower rate than what they can usually obtain on their own. Once drivers turn of age and are allowed to purchase a policy of their own, price quotes for policies can be significantly higher. To give you the most accurate depiction of car insurance costs for a new driver, the following rates are for 18-year-old drivers on their own policy.

Cheapest Florida car insurance for teens with a ticket: Geico

A teen who has earned a moving violation while behind the wheel is likely to pay more for their policy in Florida. Whether they are still on their parents' policy or have a policy in their own name, they may pay rates that are above average for several years, until the infraction drops off their license.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$2,157
$7,718
$3,191
$8,818
$3,901
$12,426
$4,808
$11,489

Cheapest Florida car insurance for teens with an at-fault accident: Geico

If a teen driver is found to be fully or partly at fault in an accident, they will almost certainly see an increase in their premium rate when they renew their policy. Average rates from a range of carriers show premiums for minimum and full coverage to be well above the state averages, with Geico's average rates being the lowest among Florida's major insurers.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$2,170
$7,492
$3,778
$10,281
$4,958
$11,817
$6,062
$18,343
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Bankrate’s take: Florida is one of a handful of states in the U.S. that are considered no-fault. In no-fault states, drivers purchase personal injury protection (PIP) coverage, which pays out after an accident for injuries, lost wages and other related costs to you or your passengers, regardless of who is at fault in the accident and up to your policy's limits. This helps to expedite claims and reduce lawsuits, but it may not fully cover all costs related to an accident, including property damage liability.

Cheapest Florida car insurance for young drivers with a DUI: Progressive

Getting a DUI in Florida can come with some serious consequences. While one offense may lead to fines, multiple offenses could lead to some jail time. In addition, drivers convicted of a DUI may see increases in their car insurance costs for a minimum of three to five years. For young drivers with a DUI in Florida, Progressive offers some of the cheapest rates.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,946
$4,500
$2,350
$7,998
$2,355
$8,767
$3,072
$8,289

Cheapest car insurance rates by city in Florida

Car insurance companies use an array of rating factors to determine how much to charge you for auto insurance. Some of these factors could include your age, gender, credit history, the type of vehicle you drive and, in Florida, your ZIP code. In general, more populated areas have higher rates of accidents and vehicle theft and, therefore, higher average premiums. Coastal areas with high exposure to hurricanes may also see higher rates in Florida.

Bankrate’s insurance editorial team closely examined average premiums across the Sunshine State.

Cheapest cities in Florida for car insurance

Sun City
City average annual min coverage premium
$1,123
Cheapest car insurance carrier
State Farm
Company average annual premium
$1,022
Saint Leo
City average annual min coverage premium
$1,085
Cheapest car insurance carrier
State Farm
Company average annual premium
$949
Trilby
City average annual min coverage premium
$1,085
Cheapest car insurance carrier
State Farm
Company average annual premium
$949
Dade City
City average annual min coverage premium
$1,084
Cheapest car insurance carrier
State Farm
Company average annual premium
$949
Spring Hill
City average annual min coverage premium
$1,063
Cheapest car insurance carrier
State Farm
Company average annual premium
$949

Cheapest car insurance in larger cities in Florida

Fort Lauderdale
City average annual min coverage premium
$1,316
Cheapest car insurance carrier
Geico
Company average annual premium
$1,090
Miami
City average annual min coverage premium
$1,418
Cheapest car insurance carrier
Geico
Company average annual premium
$1,094
Orlando
City average annual min coverage premium
$1,132
Cheapest car insurance carrier
Geico
Company average annual premium
$907
Tampa
City average annual min coverage premium
$1,379
Cheapest car insurance carrier
Geico
Company average annual premium
$1,161
Saint Petersburg
City average annual min coverage premium
$1,183
Cheapest car insurance carrier
State Farm
Company average annual premium
$1,025

Car insurance discounts in Florida

Many car insurance companies offer discounts to help their policyholders take advantage of Florida car insurance savings. Some of the opportunities that may be worth exploring include:

  • Telematics discount: Many carriers offer a telematics discount, which could net you hefty savings on your car insurance premium. Generally, to enroll in a usage-based telematics program, you must install a small device in your vehicle or download a mobile app. The device (or app) then records your driving habits and reports that data to your insurance company, which may grant you a discount based on your driving habits and mileage. It's important to note some companies could raise your rates if they track bad driving habits via telematics.
  • Defensive driver discount: Some car insurance companies in Florida will give you a discount for completing an online defensive driving course, but each company sets its own eligibility guidelines. For example, some carriers require that you are at least 50 years old to qualify. You may want to speak with your agent for specifics to see if you qualify.
  • Bundling discount: You might earn a discount for bundling your Florida car insurance and your Florida homeowners insurance with the same company. If you aren’t a homeowner, some companies offer bundling discounts for other types of coverage, such as renters or motorcycle policies. However, it’s important to note that this discount is less readily available in Florida than most other states because the majority of residential insurers in the state do not write auto coverage.
  • Military discounts: If you are affiliated with the military, you may qualify for additional savings with some companies.

In addition to these popular discounts, some common savings opportunities could include a pay-in-full discount, paperless discount, a student away at school discount and good student discount. It may be a good idea to ask your agent for a full policy review to ensure that you take advantage of all the discounts you may be eligible for.

Frequently asked questions

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Methodology

Bankrate utilizes Quadrant Information Services to analyze 2024 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2021 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.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Teens: Rates were determined by adding a 16-year-old teen to a 40-year-old married parent’s policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy. 

Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

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