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Cheapest car insurance in Florida in 2022
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The cost of car insurance in Florida is well above the national average. Rates currently average $2,762 per year for full coverage, and minimum coverage is $997 per year. Higher rates in Florida are due to numerous factors, ranging from an increased population and more drivers on the road to the greater chance of threat from severe weather. These challenges could mean higher rates but finding low-cost car insurance in Florida is possible. Bankrate’s review found that Geico and Allstate offer some of the cheapest rates for minimum coverage, on average, and State Farm and Geico offer cheap full coverage car insurance in Florida, on average.
- Average full coverage car insurance rates in Florida are $2,762 per year, 55% higher than the national average of $1,771 per year.
- The average minimum coverage insurance cost in Florida is $997 per year, nearly double the national average of $545 per year.
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
How Bankrate chose the cheapest car insurance companies in Florida
Data was reviewed across many insurance companies to help Florida drivers save on car insurance rates. Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers. 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 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Teen driver: Rates were calculated for 16-year-old drivers by adding a driver of this age to our 2022 base profile.
Incidents: Rates were calculated by evaluating our 2022 base profile with the following incidents applied: at-fault accident, single speeding ticket and a single DUI conviction.
These are sample rates and should only be used for comparative purposes.
The cheapest companies for minimum coverage in Florida
Allstate and Geico offer some of 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 limits are likely to leave you with more out-of-pocket expenses.
These are some of the cheapest companies for state minimum limits in Florida:
| CAR INSURANCE COMPANY | AVERAGE ANNUAL MINIMUM COVERAGE PREMIUM | AVERAGE MONTHLY MINIMUM COVERAGE PREMIUM |
|---|---|---|
| Allstate | $659 | $55 |
| Geico | $684 | $57 |
| State Farm | $754 | $63 |
| Progressive | $1,287 | $107 |
The cheapest companies for full coverage in Florida
Our analysis of premium rate data 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 coverage and collision coverage, 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 ANNUAL FULL COVERAGE PREMIUM | AVERAGE MONTHLY FULL COVERAGE PREMIUM |
|---|---|---|
| State Farm | $2,055 | $171 |
| Geico | $2,103 | $175 |
| Allstate | $2,784 | $232 |
| Progressive | $2,986 | $248 |
Factors that impact cheap rates in Florida
Finding cheap car insurance in Florida is possible, but it helps to understand how much of an impact certain factors influence your premiums. When you take a closer look at rates for specific groups of drivers, such as teens or those with a speeding ticket, it tells you what areas impact your search for Florida car insurance savings.
Insuring a teen driver
Adding a teen driver has a sizable impact on the amount you pay for car insurance rates in Florida. In some cases, the average cost of full coverage nearly doubled. Car insurance providers view teens as a high-risk category because of their lack of experience and their higher incidence of injuries and fatalities on the road.
| Car insurance company | Average annual full coverage premium | Average annual minimum coverage premium |
|---|---|---|
| State Farm | $3,531 | $1,388 |
| Allstate | $4,130 | $1,519 |
| Geico | $4,168 | $1,352 |
| Progressive | $4,626 | $1,871 |
Getting a speeding ticket
Drivers in Florida who have received a speeding ticket conviction can expect to pay more for insurance rates in general. However, it is still possible to find cheap auto insurance in Florida, so it pays to shop around and compare the rates among providers.
| Car insurance company | Average annual full coverage premium | Average annual minimum coverage premium |
|---|---|---|
| State Farm | $2,344 | $937 |
| Geico | $2,826 | $911 |
| Allstate | $3,555 | $1,397 |
| National General | $4,044 | $1,386 |
Getting into an at-fault accident
Car accidents are stressful no matter the situation, but an at-fault accident adds even more stress to the equation when you realize your insurance rates could increase. Even if you have an at-fault accident on your record, you could still benefit from shopping around with insurance providers to find the one offering the cheapest car insurance in Florida.
| Car insurance company | Average annual full coverage premium | Average annual minimum coverage premium |
|---|---|---|
| State Farm | $2,675 | $1,127 |
| Geico | $2,763 | $898 |
| Allstate | $4,023 | $1,580 |
| Progressive | $4,673 | $2,035 |
Being deemed a high-risk driver
Being a high-risk driver will make it more difficult to find cheap insurance in Florida, such as a driver with a DUI conviction. It’s not impossible to find cheaper rates, but it will require diligence to find adequate coverage and an affordable premium.
| Car insurance company | Average annual full coverage premium | Average annual minimum coverage premium |
|---|---|---|
| State Farm | $3,057 | $1,352 |
| Geico | $3,267 | $1,067 |
| Progressive | $3,596 | $1,580 |
| National General | $4,227 | $1,399 |
Cheapest cities in Florida for minimum coverage
Where you live could impact your ability to find cheap car insurance in Florida. Drivers may not realize the impact the ZIP code where they live has on insurance rates. When you compare rates from one city to another, you can see the variations across the state.
| City | City average annual minimum coverage premium | Cheapest car insurance company | Company average annual minimum coverage premium |
|---|---|---|---|
| Marianna | $598 | State Farm | $431 |
| Malone | $599 | State Farm | $431 |
| Greenwood | $599 | State Farm | $431 |
| Ponce de Leon | $620 | State Farm | $408 |
Cheapest cities in Florida for full coverage
Comparing multiple quotes is essential if you are looking at how to save on full coverage car insurance in Florida. Since full coverage rates are more expensive than minimum coverage in Florida, shopping rates when moving to a new ZIP code can be even more important.
| City | City average annual full coverage premium | Cheapest car insurance company | Company average annual full coverage premium |
|---|---|---|---|
| Alachua | $1,953 | State Farm | $1,526 |
| Santa Rosa Beach | $1,962 | State Farm | $1,451 |
| Freeport | $1,965 | State Farm | $1,451 |
| Defuniak Springs | $1,978 | State Farm | $1,451 |
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, 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 uninsured motorist coverage, but you can decline this coverage in writing. This coverage option gives you financial protection in case uninsured drivers hit you.
Although minimum coverage often results in lower premiums, most insurance agents recommend purchasing higher limits for greater financial protection. Additionally, minimum coverage does not include comprehensive or collision coverage, which pays for damages 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.