Best car insurance in Florida in 2022
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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, 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. 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.
|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 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 experience 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. 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. This may be ok for customers who prefer working one-on-one with an agent, as Geico also provides its customers with the option of purchasing insurance in-person through local agents.
Learn more: Geico Insurance review
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, Florida-based American Strategic Insurance (Progressive Home) subsidiary.
Learn more: Progressive Insurance review
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
Average car insurance cost in Florida
2021 car insurance rates in Florida average about $1,101 annually for minimum coverage and $2,364 annually for full coverage. Compared to the 2021 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. HHowever, 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.
Frequently asked questions
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.