Average car insurance cost in Orlando, FL

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According to data from Insure.com, the average annual cost of car insurance in Orlando, Florida is $2,835. The auto insurance rates in Orlando is $141 more than the state average and $940 more than the national average.

Car insurance premiums vary significantly based on where they are filed. Factors such as city demographics, population density and average resident age, accident rates, theft, and vandalism rates will influence the amount of premiums you pay.

This article talks in detail about the most affordable car insurance companies in Orlando, the average car insurance rates by age and gender, and how much car insurance cost in Orlando depending on coverage limits. Whether you’re a new driver or an experienced one, this article will help you to find the most affordable car insurance in Orlando. Keep reading to learn more.

Cheap car insurance companies in Orlando

Nationwide provides the best value for car insurance in Orlando with coverage limits of 100/300/100, costing $2,086 annually.

A close second is State Farm, which offers car insurance at $2,122 per year.

Read about the best car insurance companies.

Average car insurance cost in Orlando by coverage limits

In Orlando, the average car insurance rates the coverage levels are as follows:

• State minimum coverage: $1,096 per year (limits are 25/50/25)
• Liability only coverage: $1,817 per year (limits are 50/100/50)
• Full coverage: $2,835 per year (limits are 100/300/100)
• Non-owners coverage: $539 per year

In most states, drivers are required to have state minimum coverage to drive legally, although these requirements vary by state. However, it’s important to note that state minimum coverage does not provide coverage for any vehicles listed on your policy in the event of an at-fault accident.

To prevent compromising on coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage if you frequently borrow or rent a car but do not own one.

Average car insurance rates by gender in Orlando

The average car insurance rate for a female driver in Orlando, Florida, is $2,815 per year.

While the rate for a male driver is $2,853 per year, which is $38 more than what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Orlando

In Orlando, car insurance rates are highest for teens, averaging $7,166 per year or $597 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $4,238 annually for their car insurance, which is $2,928 less than what teens pay for their coverage.

In Orlando, adult drivers pay an average of $2,908 per year for car insurance, while senior drivers pay $2,816 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Orlando

If we look at the car insurance rates trends in Orlando, Florida, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 6%, or $162.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in Orlando, are higher than the average insurance cost in Florida. Shopping around and taking advantage of available discounts, drivers in Orlando can find affordable car insurance options. Many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.