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The average cost of car insurance in Tampa for full coverage is $3,459 per year, or $288 monthly, while minimum coverage averages $1,292 per year. Tampa’s annual rates are some of the highest in the country, as Florida remains one of the most expensive states overall for car insurance. While the averages may be higher in this area, drivers still have a few ways to get the cheapest and best car insurance in Tampa, Florida.
The cheapest car insurance company in Tampa is Geico, according to Bankrate’s 2022 study of quoted annual premiums. Although average annual premium data indicate Geico has the most affordable rates, insurance agents generally advise against selecting a provider based solely on getting the cheapest rates. You may also want to consider reviewing customer satisfaction ratings and financial strength indicators, as these may give you an idea of the provider’s ability to handle a potential claim.
Best cheap car insurance companies in Tampa
The cheapest car insurance companies in Tampa, Florida, are State Farm, Geico, Allstate and Progressive, according to our analysis of rates from Quadrant Information Services. In addition to finding the cheapest rates, Bankrate reviewed each provider for its performance regarding coverage options, discounts and third-party ratings, resulting in our selection of the best insurers for Tampa drivers. These and other attributes contribute to each insurer’s Bankrate Score, which is based on a 5-point scale, to help form a more accurate view of what each company offers.
Drivers in Tampa face challenges in finding affordable rates since Florida is one of the most expensive states in the country for car insurance. However, it’s still possible to find options for almost any budget, as well as other advantages, such as high customer satisfaction scores and financial strength ratings from third-party agencies.
|Insurance company||Bankrate Score||J.D. Power score (Florida region)||Average annual premium for full coverage||Average annual premium for minimum coverage|
State Farm offers some of the cheapest rates in Tampa for full coverage, based on Bankrate’s study of quoted annual premiums. It is one of the cheapest car insurance companies in Tampa, and scores exceptionally well on the 2022 J.D. Power customer satisfaction survey, scoring 840 out of 1,000 points, above the region’s average. While State Farm does not offer as many specialty coverage options for policies, such as gap coverage, it does offer a wide array of discounts to help drivers save even more on premiums. Plus, the large network of local agents, website and highly-rated mobile app offer convenient solutions for managing your policy.
Learn more: State Farm Insurance review
We found Geico has the cheapest car insurance rates in Tampa for full coverage and minimum coverage among the providers we reviewed. Geico also offers an extensive list of discounts, which may decrease premiums even more. Geico’s discounts, such as those for seat belt use and having air bags and anti-theft equipment, help drivers save further on affordable rates while still getting the amount and type of coverage they need. Geico does not score as high as State Farm in the J.D. Power customer satisfaction survey, but it is still above the region’s average. It also has an A++ (Superior) financial strength rating from AM Best, highlighting its historical ability to satisfy its financial obligations to policyholders.
Learn more: Geico Insurance review
Allstate is the most expensive of the cheapest and best car insurance companies in Tampa, and its rates are above the average cost of insurance in Tampa. While this may not be ideal for every driver’s budget, the company does excel in other areas that may be appealing, including offering numerous discounts. New car and Smart Student discounts are two examples of the many ways to save with Allstate. The mobile app is also highly rated and offers more convenience for policy management, including claims handling and updating coverage, which may appeal to tech-oriented drivers.
Learn more: Allstate Insurance review
Progressive offers many advantages for car insurance in Tampa, including a variety of policy customization options, like roadside assistance and windshield coverage. It also offers impressive discounts, including the popular Name Your Price tool, where you input your budget first to see what coverage options are available to you. However, Progressive did not perform very well in the 2022 J.D. Power customer satisfaction survey, and it scored the lowest among these four providers on our list.
Learn more: Progressive Insurance review
How to get and keep the cheapest car insurance in Tampa
With higher-than-average insurance costs in Florida, finding affordable rates in Tampa and keeping them low over time requires work. For those looking for ways to keep affordable rates for car insurance, Tampa drivers can practice the following tips:
- Compare multiple insurance providers. Premiums can vary widely from one insurance provider to another, which is why it pays to research and compare more than one company. In addition to finding which offers the lowest rates for your situation, you may prefer working with a certain company to another while comparing quotes.
- Maintain a clean driving record. While accidents can happen to the best of drivers, maintaining a clean driving record and remaining accident-free can help you save even more over time. Not only do you avoid the costs associated with moving violations, such as ticket or court fees, but you can typically earn additional discounts on car insurance premiums for being a safe driver.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2022 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 base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
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 nearly 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.