Florida drivers have plenty of options for car insurance. Geico and State Farm are among the best car insurance companies in the Sunshine State based on Bankrate’s extensive research. The average cost for full coverage auto insurance in Florida is $2,364 annually, based on Bankrate’s 2022 study of quoted annual premiums, which is amongst the highest average rates in the U.S.
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 and ranked as the second-most visited state behind California. Having a car insurance policy to financially protect you and your family in case of an accident is an important part of your financial health. Bankrate’s analysis of Florida’s largest auto insurance companies 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 reported by Quadrant Information Services, financial strength ratings from AM Best, coverage options, discounts and unique policy features.
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
State Farm enables younger drivers and students to save by taking defensive driving courses and for being good students. State Farm, the largest U.S. auto insurer with 16.2% market share according to the Insurance Information Institute (Triple-I), 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 highest level possible. 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. The company has a higher-than-average complaint index score from the National Association of Insurance Commissioners (NAIC), though, which might indicate that some policyholders are frustrated with State Farm’s level of customer service.
Learn more: State Farm Insurance review 2021
If you are looking for strong digital assets, lower-than-average premiums and a long list of discounts, Geico could be a great choice. Being a federal employee, an active-duty military member or veteran, or a student with good grades could lower your insurance premiums. Geico’s mobile app is also highly rated for its user-friendly functionality in the 2021 J.D. Power U.S. Insurance Digital Experience Study. Geico, the second-largest U.S. auto insurer based on market share, carries an A++ (Superior) financial strength rating from AM Best. However, the carrier doesn’t have as many endorsement options as some other companies, so its policies are relatively basic. Geico also provides its customers with the option of purchasing insurance in-person through local agents.
Learn more: Geico 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, which is the third- largest U.S. auto insurer, provides 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. The national carrier also offers its Snapshot usage-based telematics program, which provides customers with opportunities to save on premium based on their driving habits. Progressive carries an A+ (Superior) financial strength rating from AM Best. Among Progressive’s many discounts is a bundling opportunity with its St. Petersburg, Fla.-based American Strategic Insurance (Progressive Home) subsidiary.
Learn more: Progressive Insurance review 2021
Allstate, the fourth-largest U.S. auto insurer, offers a wide range of standard auto insurance coverage choices, an exceptional web presence full of tools and useful consumer information for customers and the general public, and a slew of easy and practical ways policyholders could save on their premiums. Drivers insured with Allstate could save by digitally managing their policy, installing safety equipment, and engaging safe driving habits to benefit from the company’s unique Safe Driving Bonus. Allstate carries an A+ (Superior) financial strength rating from AM Best. The carrier has the second-highest premium on our list, though, so it may not be the best fit for consumers on a tight budget.
Learn more: Allstate Insurance review 2021
Average car insurance cost in Florida
Car insurance rates in Florida average about $1,101 annually for minimum coverage and $2,364 annually for full coverage. Compared to the national average of $1,674 per year for full coverage, Florida drivers pay nearly $700, or 71%, more for coverage. In fact, Florida is the second-most expensive state in the nation for full-coverage car insurance, according to Bankrate’s analysis.
The higher-than-average premium across Florida may be partly due to the state’s geographic location, with 1,350 miles of coastline (the most in the U.S.) and its resulting susceptibility to severe weather events such as tropical storms, hurricanes and tornadoes. Florida also has a high population of uninsured drivers, with 20.4% of drivers estimated to be driving without insurance, according to 2019 data published by the Triple-I. All of these factors, especially when added to the state’s busy roadways, could be contributing to high insurance costs.
|Average annual premium for minimum coverage in Florida||Average annual premium for full coverage in Florida|
How to get the best car insurance in Florida
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 vehicle type and coverage requirements, finding the best carrier largely depends on what aspects of auto insurance you choose to prioritize. However, you can take some steps to help you in your search.
Consider 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. The Sunshine State takes a relatively unique approach to state minimum car insurance; the state only requires personal injury protection (PIP) and property damage coverage. Bodily injury liability coverage is not technically required. However, the state does have a “financial responsibility law” that dictates that you must provide proof of your ability to pay for the damages you cause in an accident, if you are rated as a high-risk driver because of your previous driving history that may include DUIs or other major infractions. Although auto insurance is not the only way to satisfy this law — you could post a bond, for example — however, most high-risk drivers opt to purchase a policy that includes bodily injury liability coverage.
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, as well as uninsured and underinsured motorist coverage, could help minimize unexpected financial losses.
Consider lender requirements
If you have a loan or lease on your vehicle, you may have different insurance requirements than just satisfying the state minimum coverage. Both lenders and lessors usually require full coverage, which adds comprehensive coverage and collision coverage to your policy. These coverage types provide substantial financial protection for both collision and non-collision damage to your vehicle, rather than just for damage you cause to another party. Lessors also usually require that you carry higher-than-state-minimum liability limits. You could also consider gap insurance, designed to pay for the difference between your loan value and the vehicle’s actual cash value if your car is stolen or totaled. Gap coverage typically costs less if you purchase it from your auto insurer versus your lender.
Consider your individual needs
Every driver has a unique set of circumstances that they bring to car insurance. Your situation will affect the company, coverage types and levels, endorsements and discounts you choose. For example, if you have a teen driver, you may want to search for companies that offer student discounts, which could help you lower your premium. If you have a few accidents, tickets, a DUI conviction or any combination of these incidents on your driving record, you might be considered a high-risk motorist. Your insurance company choices could be limited, so you might need to do a bit more research to find the best option for you.
Car insurance discounts in Florida
Regardless of your initial premium quote, insurance discounts could help you get cheaper car insurance. Your driving habits, vehicle safety features, or preferred payment method could all help you save on your car insurance. Some common auto insurance discounts in Florida are:
- Young driver discounts: Young drivers can be expensive to insure, but you can find cheap car insurance for teens by utilizing discounts. Good student discounts, distant student discounts and driver training discounts are common.
- Safe driver discounts: Many companies offer usage-based telematics 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 substantial discount. You might also save if you drive a certain number of years without filing a claim and incur no moving violations.
- Other discounts: If you buy your auto and home policies through the same company, you will often be rewarded with a “bundling” discount on both. Some companies offer this discount for combining your auto coverage with other lines of insurance, too, like pet, life or business insurance. You might also save by signing up for paperless billing or automatic payments.
Discounts vary by carrier, so speaking with your agent or company 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?
Based on Bankrate’s research, Geico and State Farm offer Florida’s cheapest full and minimum auto insurance coverage. However, just like the best car insurance can vary, so can the cheapest. Your age, ZIP code, motor vehicle record, credit-based insurance score, the type of vehicle you drive, and the coverage types and levels you choose will all impact your rates in Florida. 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. If you are considered a high-risk driver, you will also need to purchase at least $10,000 bodily injury liability per person and $20,000 bodily injury liability per accident, unless you post a bond or otherwise satisfy the state’s “financial responsibility law.” Most insurance experts recommend purchasing higher liability limits or even full auto 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 and high volume of uninsured drivers 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 more or less depending on more than a dozen personal rating factors, including age, gender, marital status, occupation, motor vehicle record, make and model of your vehicle, coverages and deductibles you choose, how many miles you drive per year, ZIP code and your auto insurance 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 in its underwriting criteria. 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 getting into an accident and 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 and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moodys had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.