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Cheapest car insurance in Florida in 2022

Updated Nov 15, 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.

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Key takeaways
  • 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.
  • Florida is one of the only states in the country that does not require bodily injury liability coverage. Still, you must prove that you have the financial responsibility to pay for injuries you may cause in an at-fault accident by filing a self-insurance certificate

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. According to the Insurance Information Institute (Triple-I), drivers aged 16 to 20 were involved in fatal accidents at a rate of 39 per every 100,000 licensed drivers in 2020. For perspective, this segment only makes up a little over five percent of total licensed drivers. 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 file a self-insurance certificate, for example, if your net worth is high enough to qualify — 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 bodily injury coverage or the proper self-insurance certificate filed, even if they maintain insurance that meets Florida’s minimum property damage and PIP requirements. In these situations, the state may mandate you to maintain an SR-22, issue a fine and suspend your driver's license until you can prove financial responsibility by purchasing car insurance that includes bodily injury coverage.

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.

Frequently asked questions

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Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited by Insurance Editor
Reviewed by Director of corporate communications, Insurance Information Institute