According to Bankrate’s extensive research Geico is the lowest-priced minimum coverage auto insurance in Florida with an average annual premium $841. Although minimum coverage can be more expensive than full coverage because it offers less financial protection, you can still find cheap coverage.
The average premium for full coverage in Florida by State Farm is $1,739. For comparison, the average annual cost of car insurance in Florida is $1,101 for minimum coverage and $2,364 for full coverage. There are many ways to get lower rates in Florida, despite the fact that it has one of the highest car insurance premiums in the country.
Florida’s cheapest car insurance company
Bankrate’s insurance editorial team obtained current premiums from Quadrant Information Services to help you find the cheapest car insurance in the Sunshine State. We also looked at each insurer’s financial strength scores as well as customer satisfaction ratings. These companies not only offer low average rates for Florida drivers, but also provide excellent customer service and financial strength. We have identified the best auto insurance companies in Florida through our extensive research.
Florida’s minimum coverage companies that are the cheapest
According to our analysis, State Farm and Geico offer the lowest average minimum coverage premiums for Florida. Because it offers lower financial protection, minimum coverage car insurance is more affordable than full coverage. Insurance professionals often recommend you buy higher limits if possible, because minimum coverage provides very little protection.
These are the most affordable companies to help Florida meet its state minimum limit.
Florida’s cheapest insurance companies offering full coverage
State Farm and Geico are the best-rated full coverage providers in Florida, according to our investigation. Full coverage car insurance means you are adding comprehensive and collision coverages, which provide financial protection for damage to your vehicle.
These carriers may be a good option if you’re looking for affordable auto insurance with full coverage.
Florida events that could impact your low rates
Your auto insurance needs can change rapidly as life changes. Life events can present an opportunity to shop your car insurance with different carriers to make sure your company and coverages still fit your needs. If you have had a recent policy, it may be worth shopping for a lower-cost policy.
- Added a teen driver: Teen drivers are considered high-risk drivers due to their inexperience behind the wheel. Insurers tend to charge higher premiums when teens drive. To offset the premium increase, it is worth getting quotes from several companies if you have a young driver.
- Received a speeding ticket: Speeding can increase the risk of causing an accident and make accidents more severe. This could lead to an increase in car insurance premiums. However, each insurer has a different approach to rating you so it is worth shopping around for coverage.
- Involved in an at-fault accident: At-fault accidents tend to increase your insurance rates for three to five years. However, just as with speeding tickets not all companies rate at fault accidents the same way. You may be able find a company offering lower rates even if your accident is included.
- Deemed a high-risk driver: Numerous scenarios can cause insurance companies to view you as a high-risk driver, including having multiple accidents or tickets, a lapse in coverage or a DUI conviction. High-risk drivers may not have many options for car insurance. However, they can still shop around and get discounts to lower their premium. You could even consider switching to owning a cheaper vehicle.
Lowest coverage in Florida cities
Even within a single state, your geographic location can have a significant effect on your premium. Rates vary depending on risk factors. Your ZIP code can have an impact on your premium. Premiums can be affected by factors such as the likelihood of accidents in your locality, the cost of medical treatment in your area, and the density of the population. Due to the high cost of living and congestion, urban areas such as Jacksonville and Miami have higher premiums.
According to our research, these are the best cities in Florida for minimal coverage.
For full coverage, Florida’s cheapest cities are the ones that offer it.
Full coverage premiums can also be affected by where you live. Like with minimum coverage, more densely populated areas or areas with heavy tourism, like Tampa, generally have higher premiums. Full coverage covers damage to your vehicle. However, the price you pay will be affected by more factors. Your premium could be increased by vehicle theft, weather-related damage and the cost of labor and parts for vehicle repairs.
You may be able to get full coverage if you live in one these cities than in other parts of Florida.
Florida drivers must have minimum coverage
Like most states, drivers in Florida have to carry at least a minimum amount of coverage to drive legally. These are Florida’s no-fault laws.
- Personal injury protection (PIP) of $10,000
- Ten Thousand Dollars per accident property damage liability
Bodily injury liability, which is a required coverage in most states, is not required in Florida. Florida drivers must show that they can pay for any injuries caused by an accident. While you can do this without purchasing bodily injury coverage — you could post a surety bond, for example, if your net worth is high enough to qualify — insurance is generally the easiest way to satisfy this “financial responsibility law.”
If you are looking to buy insurance, the minimum requirements for bodily injuries coverage are:
- Per person, $10,000 bodily injury liability
- $20,000 bodily injury liability per incident
Florida insurance companies must offer uninsured motorist coverage. However, you can reject this coverage by writing.
While minimum coverage can result in lower premiums, many insurance agents recommend you buy higher limits to get greater financial protection. Minimum coverage does not cover collision or comprehensive, which covers damage to your vehicle. These coverages are sometimes referred to as “full-coverage” policies. Your financial institution may require that you have full coverage if you finance your vehicle or lease it.
Here’s how to get cheap Florida car insurance.
Although Florida’s average rate is high, there are still ways to get affordable rates. This is what you might want to do:
- Understanding your needs is key: Car insurance is individualized. A driver may choose a policy that has high liability limits to protect his assets while another driver may need the cheapest policy to meet their budget. As you compare quotes, it is important to understand your coverage requirements.
- Shop around: Auto insurance providers charge different rates. For example, a car insurance company might penalize you more for an at-fault incident. Different carriers may offer different policy features, discounts, and optional coverages. Comparing quotes from different car insurance providers can help you to find the right policy at the best price.
- Use discounts: Many auto insurance companies offer discounts that can help lower your premium. You may be able to find affordable rates by finding a company with discounts that are applicable to your particular situation. Discounts that are common include multi-policy discounts, paperless, safe drivers, and paid-in full.
It’s exciting to find a cheap policy for car insurance. But, it is important that you keep your rates affordable. There are ways to keep your car insurance rates affordable. Car insurance rates change every year.
- Keep your driving record clean: Getting tickets, causing accidents or being convicted of DUIs could all lead to an increase in your premium. These incidents can be avoided and you will avoid paying high surcharges. A clean driving record could help you get a discount.
- Credit score can have an impact on your car insurance premiums. Because drivers with poor credit tend to file more claims, insurance companies charge them higher premiums to compensate for the risk. You can improve or maintain your credit score to help you keep affordable rates.
- You should shop your policy occasionally: Experts in insurance do not recommend changing providers or shopping your policy every year. This could lead to you missing out on loyalty discounts. You can still shop for the right insurance provider for you and your budget.
Questions frequently asked
Which Florida car insurance company is best?
The best car insurance company in Florida will be unique to your needs. Your car insurance needs should be customized to suit your particular circumstances. If you have a teenager to insure, it might not be the best company for you. You can find the best fit by understanding your needs and getting multiple quotes.
What happens if I don’t have insurance in Florida?
It is illegal to drive without insurance in Florida unless you have satisfied the state’s financial responsibility law with a surety bond. If you cause an accident, your insurance coverage may be canceled and your driver’s license suspended.
How can I find cheap Florida car insurance?
It is possible to compare quotes from multiple carriers to find affordable car insurance. Online or phone quotes are often available. You may also consider visiting a local agency. Name, date of birth, and drivers license numbers for each driver will be required. Also, the vehicle identification numbers (VINs), of each car you want to insure will be needed. It can speed up the process if you know what coverage you require. However, a licensed agent should be able help you choose the right options for you. After you’ve gotten quotes, you can compare coverages, premiums, and third-party rankings to determine which company is best for you.