- State Farm has the cheapest average full coverage premium in Florida at $2,055 per year.
- The average cost of auto insurance in Florida is $2,762 per year for full coverage and $997 per year for minimum coverage.
- Finding car insurance in FL that fits your needs is especially important considering that the state’s roadways are crowded with both residents and tourists, making accidents more likely.
How Bankrate chose the best car insurance companies in Florida
To find the best auto insurance in Florida, we began by reviewing 2022 quoted annual premiums from Quadrant Information Services for the largest car insurance companies by market share in the state. Because price is just one factor when shopping for car insurance, we also took coverage options, discounts, digital assets and third-party ratings from J.D. Power and AM Best into consideration. 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. Because this scoring method combines numerous facets of each carrier into a single Score, it helps make your process of researching companies easier with an easy comparison tool.
Best car insurance companies in Florida
Based on our research method, the companies that sell the best car insurance in Florida include State Farm, Geico, Progressive and Allstate. These companies offer impressive coverage options and robust lists of discounts. Below, we go into more depth about these companies to help you decide if any are right for you.
|Company||Bankrate score||J.D. Power customer satisfaction score
|Average annual full coverage premium||Average annual minimum coverage premium|
With the lowest average full coverage premium on our list, State Farm could be a good choice if you’re looking for the cheapest car insurance in Florida. Additionally, State Farm carries an A++ (Superior) financial strength rating from AM Best, the highest level possible. The company has a lower-than-baseline complaint index score from the National Association of Insurance Commissioners (NAIC) for private passenger insurance. However, as an overall insurer, State Farm has received more complaints than the baseline, which might indicate that some policyholders have experienced dissatisfaction with State Farm’s level of customer service.
Learn more: State Farm Insurance review
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. However, the carrier doesn’t have as many endorsement options as some other companies, so its policies are relatively basic.
Learn more: Geico Insurance review
Although Progressive has the highest average full coverage premium on our list, its benefits may outweigh the cost. The company 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 telematics program, which provides customers with opportunities to save on premium based on their driving habits.
Learn more: Progressive Insurance review
Allstate offers a wide range of standard auto insurance coverage choices, an exceptional web presence and a slew of ways policyholders could save on their premiums. Drivers insured with Allstate may be able to save by digitally managing their policy, installing safety equipment and engaging safe driving habits to benefit from the company’s unique Safe Driving Bonus. 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
Average car insurance cost in Florida
Florida auto insurance is, in general, more expensive than auto insurance in the rest of the country. Full coverage costs an average of $2,762 per year and minimum coverage costs an average of $997 per year. Compared to the 2022 national average cost of car insurance, which is $1,771 per year for full coverage, Florida drivers pay quite a bit more on average. In fact, Florida is the third-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 even 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 Insurance Information Institute (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. Florida’s state minimum car insurance laws are relatively unique; 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. Although auto insurance is not the only way to satisfy this law — you could post a bond, for example — however, most 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 new 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: Bundling your auto and home policies with the same carrier is a common and relatively impactful discount. Additionally, you might save money with billing discounts like signing up for automatic payments or receiving your statements electronically. If you’re switching companies, be sure to mention if you have a current policy that has not lapsed. Some companies offer continuous insurance discounts.
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.