Florida drivers have plenty of options for car insurance. Geico and State Farm are among the best car insurance companies in Florida based on Bankrate’s extensive research. The average cost for full coverage auto insurance in Florida is $2,364 annually, based on Bankrate’s 2021 study of quoted annual premiums.
Florida’s roads can be crowded. In addition to the drivers who call the Sunshine State home, the state welcomed more than an estimated 131 million tourists in 2019, the second-most visited state behind California. Having a car insurance policy to financially protect you and your family if you cause an accident is an important part of your financial health. Bankrate’s analysis of the largest auto insurance companies in Florida might help you find the right company and coverage for your needs.
Best car insurance companies in Florida
Bankrate’s editorial team chose the companies to feature on this list based on 2021 customer satisfaction ratings from J.D. Power and Associates, average 2021 rates as reported by Quadrant Information Services, financial strength ratings, coverage options, discounts and unique services.
We compiled these factors into a Bankrate Score. Each Score is on a scale of 0.0 to 5.0. The higher a company’s Bankrate Score, the higher that company ranked in each category.
|Company||Bankrate Score||Average annual full coverage premium||J.D. Power customer satisfaction score
If you are looking for strong digital assets, lower-than-average premiums and a long list of discounts, Geico could be a great choice. Just being a federal employee, an active or retired military member or a student with good grades could lower your insurance premiums. Geico’s mobile app is also highly rated for customer service in the 2021 J.D. Power U.S. Insurance Digital Experience Study. Geico carries an A++ (Superior) financial strength rating from AM Best.
Learn more: Geico Insurance review 2021
State Farm enables younger drivers and students to save by taking defensive driving courses and for being good students. State Farm also received the highest official ranking for customer satisfaction in the 2021 J.D. Power Auto Insurance Study for Florida. State Farm carries an A++ (Superior) financial strength rating from AM Best. The company has local agents in communities across the Sunshine State, so if you like to handle your insurance needs in person, State Farm might be a good choice.
Learn more: State Farm Insurance review 2021
Although Progressive is not the cheapest car insurance company on Bankrate’s list based on average rate data, its benefits may outweigh the higher cost. The company has numerous digital tools that could make your search for the best auto insurance in Florida faster and easier. Its Name Your Price tool populates coverage options based on your budget and you can even compare rates from different companies right from Progressive’s website. Progressive carries an A+ (Superior) financial strength rating from AM Best.
Learn more: Progressive Insurance review 2021
Allstate offers a wide range of standard auto insurance coverage choices, an exceptional web presence full of tools and useful information for both members and non-members, and a slew of easy and practical ways members could save on their premiums. Drivers insured with Allstate could save by managing their policy digitally, having safety equipment installed and using safe driving habits to join the company’s safe driving club. Allstate carries an A+ (Superior) financial strength rating from AM Best.
Learn more: Allstate Insurance review 2021
Average car insurance cost in Florida
Car insurance rates in Florida average $1,101 annually for minimum coverage and $2,364 annually for full coverage. Compared to the national average of auto insurance, Florida drivers pay nearly $700 more for coverage than drivers in the U.S. as a whole, where the average full coverage premium is $1,674 per year.
|Average annual premium for minimum coverage in Florida||Average annual premium for full coverage in Florida|
The higher-than-average premium across Florida may be due in part to the state’s coastal location and its resulting susceptibility to severe weather events such as tropical storms, hurricanes and tornadoes. Florida also has a high amount of uninsured drivers. In fact, it ranks sixth in the nation, with 20.4% of drivers estimated to be driving without insurance, according to 2019 data published by the Insurance Information Institute (Triple-I). Florida is also amongst the worst states for auto insurance fraud, including windshield repair schemes and excessive litigation filed against auto insurers over frivolous claims. The state’s busy roadways, laden with tourists, could increase the likelihood of an accident, which also increases auto insurance costs.
State minimum insurance requirements in Florida
Florida is a no-fault state, meaning that regardless of who is responsible for an accident, each person involved is responsible for filing a claim with their own insurer to cover their medical expenses. The at-fault driver is responsible for property damages. Florida has minimum insurance coverage requirements to protect its high number of drivers and passengers on the road. The state’s minimum coverage limits mean you must purchase at least:
- $10,000 of personal injury protection (PIP) to cover you regardless of fault in an accident. For this reason, PIP is also known as Florida no-fault insurance.
- $10,000 of property damage liability (PDL) to pay for damage caused to other people’s property
Bodily injury liability coverage is not technically required in Florida. However, the state does have a “financial responsibility law” that dictates that you must provide proof of your ability to pay for the damages that you cause in an accident. Although auto insurance is not the only way to satisfy this law — you could post a bond, for example — most drivers opt to purchase a policy that includes bodily injury liability coverage. Should you decide to get car insurance to satisfy this responsibility, the minimum bodily injury liability limit is:
- $10,000 bodily injury liability per person
- $20,000 bodily injury liability per accident
Uninsured/underinsured motorist coverage must also be offered by Florida auto insurers, but can be declined in writing.
Although Florida’s minimum required insurance coverage helps keep the state’s high premiums in check, drivers may find themselves with higher out-of-pocket expenses following a more serious accident where injuries or damages exceed the minimum amounts. While serious incidents such as car accidents cannot be planned for in advance, purchasing additional coverage upfront, including optional collision and comprehensive coverage, could help minimize unexpected financial losses.
Other local car insurance companies in Florida to consider
While the four national auto insurers Bankrate highlighted are some of the largest in Florida, there are other car insurance options. Many regional auto insurers operate in the Sunshine State as well. Smaller companies typically have lower operational costs and more moderate marketing budgets compared to national carriers. Because of these factors, they may be able to offer you lower rates. You may also find that smaller companies place more focus on personalized customer service.
However, smaller companies could be less financially stable than companies with larger market shares. This means that in a situation where multiple claims are being filed, such as widespread damage to vehicles after a hurricane, the company’s financial resources could be overwhelmed and they could have difficulty providing you with an adequate level of service and paying your claim. You may also not have access to tools like online portals, mobile apps or 24/7 customer service.
Some smaller auto insurers to consider obtaining quotes from are:
- Star Casualty: Star Casualty is headquartered in Coral Gables, Fla., meaning that they are familiar with the specific needs of Florida drivers. The company offers numerous discounts, bilingual customer support services and in-house claims representatives.
- Horace Mann: If you are an educator, you may want to consider getting a quote from this national insurer. Founded in 1945, Horace Mann offers a unique auto insurance program for educators across the U.S. Benefits of their Educator Advantage package include replacement cost on totaled vehicles, waived deductibles for certain types of losses and liability coverage if you are transporting students.
Although larger auto insurance companies tend to dominate the market, smaller companies may also be able to meet your insurance needs. It may be worth obtaining insurance quotes from multiple companies, both large and small, to find the carrier that best fits your needs for auto coverage.
How to get the best car insurance
With Florida being one of the most populous states in the country, in addition to its high-risk weather conditions, many drivers likely want to be covered under the best auto insurance company they can find. Since every driver’s needs are different and can depend on factors like their vehicle type and coverage requirements, finding the best carrier is largely dependent on what aspects of auto insurance you choose to prioritize.
- Evaluate your needs: A household with teenage drivers might have drastically different considerations than someone looking to insure a brand new luxury vehicle. For example, a policyholder with a teen may weigh more heavily on finding the cheapest company to insure a young driver while a luxury car owner may care more about finding coverage for custom parts and equipment. As Florida has a high density of both teen drivers and luxury vehicles, either one of these considerations could significantly impact rates and what company you choose. Other things you may consider when seeking coverage include your credit standing, accident history and customer service.
- Consider state factors: With the Atlantic Ocean along its east coast and Gulf of Mexico on its west coast and bordering the Panhandle, as well as the likelihood of storms and flooding, Florida drivers may be interested in purchasing broader protection such as comprehensive coverage, which typically covers vehicle damage sustained by hurricanes and other weather events. Additional protection could also come in handy in the case of an accident with an uninsured driver. As of 2019, Florida was estimated to have one of the highest percentages of uninsured motorists in the U.S., according to the IRC. In these instances, uninsured motorist coverage could help prevent having to make up the difference of a loss out of pocket.
Car insurance discounts in Florida
Regardless of your initial premium, insurance discounts could help you get cheaper car insurance. You could save for your driving habits, your vehicle’s safety features or your preferred payment method. Some common auto insurance discounts in Florida are:
- Multi-policy: These discounts are often some of the biggest offered. If you buy your auto and home policies through the same company, you will often be rewarded with a discount on both. Some companies give this discount for combining your auto coverage with other lines of insurance, too, like pet, life or business insurance.
- Homeownership: Just owning a home, even if you do not insure it with the same company as your auto insurance, can sometimes save you money on your vehicle policy. Asking your auto insurer or agent if your carrier offers this discount might help lower your premium. You may need to provide a copy of your current home insurance policy as proof of ownership.
- Student: If you are a full-time student under the age of 25, or if you insure a student on your policy, you may be eligible for some savings. Good student discounts, distant student discounts and driver training discounts are common.
- Telematics: Many companies offer usage-based insurance programs, which track your driving patterns with a mobile app or plug-in device. Based on how safely you drive and how much you drive, you might earn a discount.
Discounts vary by carrier, so speaking with a representative is often the best way to learn what savings opportunities might be available to you.
Frequently asked questions
What is the cheapest car insurance in Florida?
Geico and State Farm offer the cheapest full and minimum auto insurance coverage in Florida, based on BankRate’s research. However, just like the best car insurance can vary, so can the cheapest. Your age, ZIP code, driving history, credit-based insurance score, the type of vehicle you drive and the coverage types and levels you choose will all impact your rates. Getting quotes from several auto insurers for the same amount of coverage could help you find the cheapest option.
What is the recommended car insurance coverage required in Florida?
The minimum coverage requirements in Florida only include personal injury protection (PIP) and property damage liability (PDL) up to $10,000 each. Unless you post a bond or otherwise satisfy the state’s “financial responsibility law,” you will also need to purchase at least $10,000 bodily injury per person and $20,000 bodily injury per accident. However, most insurance experts recommend that you purchase higher liability limits or even full coverage. Minimum coverage limits could leave you with hefty out-of-pocket costs if you cause an accident, according to the Triple-I.
Why is Florida car insurance so expensive?
Auto insurance in Florida is higher on average than the national rate for coverage. The state’s dense population, stormy weather patterns, high volume of uninsured drivers and excessive level of fraud are all factors that contribute to its steeper premiums. Although drivers pay $2,364 per year on average for full coverage and $1,101 per year for minimum coverage in the Sunshine State, your rate could be less depending on your qualified savings and more than a dozen personal rating factors, including age, gender, marital status, occupation, motor vehicle record, how many miles you drive per year and your claims history.
Does credit affect car insurance premiums in Florida?
Credit is a rating factor in Florida and most other states. Your credit-based insurance score will generally impact how much you pay for auto insurance, unless you choose a carrier that does not utilize credit. Generally, drivers with poor credit scores can expect to pay more for auto insurance than drivers with higher scores, as they have a greater chance of filing a claim based on actuarial data, according to the Triple-I.
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 coverage that meets each state’s requirements. Our sample drivers own a 2019 Toyota Camry, 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.
Bankrate Scores primarily reflect a weighted rank of industry standard ratings for financial strength (AM Best, S&P, Moody’s) and customer experience (J.D. Power, NAIC), in addition to average quoted rates from Quadrant Information Services. The J.D. Power studies utilized include the 2020 Auto Insurance Study and the 2020 Auto Claims Study. Our Bankrate editorial team’s extensive research and analysis provided a secondary assessment of each insurer’s online and mobile resources and policy management options, which also contributed to overall ratings.