There are many perks to living in the Sunshine State. Unfortunately, cheap car insurance is not one of them. The average cost of minimum coverage car insurance in Florida is $895 per year and the average full coverage policy costs $2,544 per year, making Florida the most expensive state for car insurance. The average price for minimum coverage in the U.S. is $565 and $1,674 for full coverage (a difference of $330 and $870).
There are many reasons Florida has such high insurance rates. For starters, it has a huge population, most of which is licensed to drive. According to the U.S. Department of Transportation’s latest study, Florida has well over 14 million drivers on the road, which is 6.5% of all drivers in the country. Florida also has the highest percentage of uninsured motorists in the United States. 26.7% of the population is currently uninsured, according to the Insurance Information Institute (iii).
With so many people on the road, it should come as no surprise that Florida has a pretty high death rate for travelers. According to the Insurance Institute for Highway Safety’s (IIHS) latest study, for every 100,000 people, 14.7 will die in a car crash (the U.S. average is 11.2).
Despite all of these factors driving higher premiums, it is possible to find cheap car insurance in Florida. There are a few companies in particular that are known for offering affordable rates to Florida drivers. To help you find the best one, we put together a list of the cheapest car insurance in Florida.
The cheapest car insurance companies in Florida
Even though Florida is the most expensive state within the U.S. for auto insurance, you can still find good deals with certain providers. After doing some research, we found that these five providers offer the cheapest auto insurance in the sunshine state.
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Geico ranked second in J.D. Power’s 2020 U.S. Auto Insurance Study, and for good reason. The company offers some of the cheapest car insurance policies on the market. In Florida, the average full coverage insurance policy from Geico costs $1,961, which is almost $600 cheaper than the statewide average rate. Geico’s coverage is basic, and the customer service is not the greatest, but you can count on getting an affordable car insurance policy from Geico.
We found that Geico has some of the best discounts of any insurance company. Drivers can save a significant amount of money by having standard safety features in their car, like airbags and antilock brakes. You can even save 15% if you always wear your seatbelt. Geico also offers savings for good students, military members, federal employees and seniors.
Learn more: Geico insurance review.
In J.D. Power’s 2020 U.S. Auto Insurance Study for the Florida region, State Farm ranked seventh on the list of 13 providers. State Farm ranked below average in terms of customer satisfaction, but the company does offer some of the cheapest insurance rates in Florida. The average driver pays $1,704 for a full coverage insurance policy from State Farm, which is well below average.
In addition to low rates, State Farm also stands out for its discount options. State Farm has two safe driver rewards programs, Drive Safe & Save for adults and Steer Clear for drivers under 25. State Farm also offers generous discounts for students away at school, being claims-free, having certain vehicle safety features and bundling a home and auto insurance policy.
Learn more: State Farm insurance review.
Allstate took first place in J.D. Power’s 2020 U.S. Auto Insurance Study for the Florida region. Many Florida drivers are insured with Allstate because the company offers affordable rates, good discounts and a wide range of coverage options. The average Florida driver pays $2,140 for a full coverage policy from Allstate, which is cheaper than the statewide average.
Allstate offers discounts that can help drivers save money on insurance. If you sign up for Allstate Deductible Rewards®, you can get $100 off your deductible each year you prove your safe driving habits, up to $500. You can enroll in Allstate’s safe driver discount program, Drivewise®, which rewards good drivers with a lower car insurance rate. Allstate also has discounts for good students, signing a policy early and paying in full.
Learn more: Allstate insurance review.
The best way Florida drivers can save with MetLife is by taking advantage of the carrier’s bundling discount. Customers that purchase both auto and home insurance through MetLife save an average of $562 per year.
MetLife also offers a host of discounts to employees of certain companies or associations, so it’s a good idea to check with your employer to see if you qualify.
Additional discounts include safe driving, attending a defensive driver course, having safety and anti-theft devices installed in your car and good grades for students.
Learn more: MetLife insurance review.
Progressive offers a variety of discounts which can help Florida drivers save money. The fastest way to save with Progressive is by doing your insurance shopping entirely online. For example, customers save an average of 7% by getting their quote online, and an average of 9% by signing online.
Progressive also has a driver analytics program called Snapshot®, which uses a smartphone app to observe driving behavior. Safe drivers that take advantage of this program can save an average of $145 per year.
Learn more: Progressive insurance review.
Affordable coverage for Florida drivers
Car insurance is legally required in Florida. All drivers must carry a minimum amount of insurance coverage that is determined by the state. Florida is also a no-fault state, which means drivers are required to carry personal injury protection coverage (PIP). Here is the minimum amount of insurance that Florida drivers need to have:
- $10,000 bodily injury liability coverage per person
- $20,000 bodily injury liability coverage per accident
- $10,000 property damage liability coverage per accident
- $10,000 personal injury protection coverage per person
If you only purchase the minimum required amount of car insurance, you will pay the lowest price. However, most insurance companies recommend that Florida drivers purchase more coverage than what is legally required. If you get into a serious accident, there is no guarantee that Florida’s minimum car insurance requirements will be enough to cover the full cost of the claim.
Raising your liability coverage limits is worth the added cost for most people. You will pay more money upfront, but you are less likely to pay a large amount of money out-of-pocket towards a liability claim or lawsuit if you get into an accident.
How to get cheap car insurance in Florida
Besides choosing a provider with affordable rates, there are other ways to find cheap car insurance in Florida. Here are some suggestions:
- Shop around: Researching all the available providers can help you find the cheapest rates. Providers use different algorithms to determine rates and eligibility, and one company may penalize something such as a low credit score more than another. Oftentimes, insurance companies will also give you a discount for simply switching providers and signing a new policy before your old one ends.
- Compare providers: It’s also a good idea to directly compare quotes and discounts from different providers. If a company is vague about the amount of money you’ll save with a discount, call and speak with an agent. Make sure you understand the bottom line before committing to a particular provider.
- Take advantage of discounts: Most insurance companies offer discounts that can help drivers save money on their premiums. Every provider has different discounts, and some may fit your unique circumstances better than others, so it’s a good idea to do a little research about all the savings options available with a specific policy.
- Improve your credit score: Your credit score is likely to impact your premiums with most carriers. Drivers with poor credit scores are considered high-risk and typically pay a higher rate. Before purchasing insurance, it’s a good idea to do a little research to find ways to boost your score.
- Raise your deductible: By raising your deductible, you agree to pay more money out-of-pocket towards a claim. However, a higher deductible means paying less for your monthly premium. If you don’t file a lot of claims with your insurance provider, this can potentially save you hundreds of dollars each year on your premiums.
Frequently asked questions
What is the best car insurance in Florida?
There is not one car insurance company in Florida that is the best for every driver. There are some companies that are great for affordable premiums, and others that are better for drivers who want reliable customer service. To find the best car insurance in Florida for you, start by doing some research and shopping around.
What is the average cost of car insurance in the U.S.?
The average cost of car insurance in the United States is $565 per year for minimum and $1,674 for full. Florida is significantly more at $1,101 for minimum and $2,364 for full (a difference of $536 and $690).
How much does car insurance cost in Florida?
Car insurance in Florida is expensive. However, there are a number of factors that influence your car insurance premium. You might pay more or less than the state-wide average based on your ZIP code, your age, the type of car you drive, your credit score and your claims history.
Do I need car insurance in Florida?
Yes, car insurance is legally required in Florida. Additionally, Florida is considered a no-fault state, which means drivers need to have PIP insurance. Drivers are required to carry a minimum of $10,000/$20,000 bodily injury liability coverage, $10,000 property damage liability coverage, and $10,000 personal injury protection coverage.
Does car insurance cover flood damage?
Minimum coverage does not typically cover flood damage. However, if you have comprehensive coverage, your car will be financially protected from flood water damage.
Bankrate utilizes Quadrant Information Services to analyze 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 cleaning 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 sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.