The best, cheapest car insurance in Florida

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Best car insurance company in Florida

Drivers in Florida pay an average of $2,694 a year, or $224 per month, which is the 2^nd highest in the country, according to our research.

Actual car insurance rates vary by company, and State Farm, GEICO, and others continue to offer some of the most competitive premiums in Florida.

When it comes to the best cheap car insurance in Florida, State Farm is our No. 1 choice followed by GEICO and Travelers.

State Farm scores well with third-party rating organizations and it has an average premium in Florida of $2,119 a year, or $177 a month, which is roughly $575 less than the Florida average.

The best car insurance companies in Florida

How we picked the top auto insurance companies

When choosing the top car insurance companies in the state, we not only looked at the average cost of coverage but also J.D. Power customer satisfaction scores, AM Best financial strength ratings and National Association of Insurance Commissioners (NAIC) complaint rankings. National averages were used where state/regional data was not available.

For each of the four metrics, we gave companies in each state from 1 to 5 (5 being the best) based on how they performed in each category. Those components were then given the following weights to arrive at an overall star rating.

• Premiums: 25%
• JD Power: 30%
• AM Best: 25%
• NAIC: 20%

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Cheapest car insurance in Florida

State Farm is the cheapest option for car insurance in Florida.

Insurers consider a wide variety of factors when setting a premium including your driving record, credit score, age and marital status as well the vehicle. Where you live also affects rates.

“States that have a higher rate of severe weather that damages cars or helps cause accidents will typically have higher rates,” says Chong Gao, director of product management R&D at Mercury Insurance. “Florida, for example, is prone to extreme weather like hurricanes and its car insurance costs are consequently much higher.”

Insurance companies crunch all this data with proprietary algorithms, which can result in dramatic differences in premium quotes.

The numbers highlight these differences. Allstate is the most expensive insurer in Florida with an average premium of $3,569 a year.

On the other hand, as mentioned above, the average premium for State Farm policyholders in Florida is $2,119 a year. Nationwide had the second cheapest coverage in Florida at $2,150 and GEICO rounded out the top three cheapest at $2,214.

Below is a list of the cheapest full-coverage car insurance rates in Florida for a 40-year-old driver of a 2023 Honda Accord LX.

Cheapest full-coverage insurance in Florida

Auto insurance premiums vary significantly from city to city, so drivers need to be sure they’re getting the best deal. Insure.com has done the research for you. Get more information on auto insurance rates by city below.

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Full coverage car insurance in Florida

As noted, the rates above are for full coverage car insurance. Full coverage car insurance adds collision and comprehensive to your liability insurance coverage, so your vehicle is repaired or replaced after an incident.

Full coverage insurance includes collision and comprehensive which will pay to repair your vehicle. Collision covers damage caused by a collision with another vehicle or object while comprehensive repairs damage done by perils such as fire, theft, flooding, vandalism, and more.

Learn more about liability, collision and comprehensive coverage.

Shopping for car insurance in Florida

Shopping around for coverage is a great way to make sure you are getting the best rates on your auto insurance. Experts often tell consumers to shop for insurance yearly. But that doesn’t necessarily mean you should be looking to switch.

“I recommend that people stay with the same insurance company, as they tend to get a better rate when they have been with the same carrier for more than 12 months. The more tenure you have with a carrier, the more potential there is to earn benefits,” says Tim Bottini, a Country Financial insurance agent based in St. Louis. “The carrier can also review your claims history and provide information about applicable discounts.”

But make sure you are comparing like coverage levels and deductibles.

“It is extremely important to make sure you start off with an apples-to-apples comparison,” Bottini says. “However, if a person has low limits, say 25/50/25 – limit per person/per occurrence/limit for property damage – I am going to recommend and quote at least 50/100/100. Depending on their age, income and profession, I would quote higher limits to protect their net worth and earnings potential.”

Bottini also says people can save money on their car insurance by keeping their credit score up, following the speed limit and placing both home and auto insurance with the same carrier.

Cheapest car insurance in Florida by age

Car insurance rates will vary by age as reams of statistics show that teen and young adult drivers, because they are inexperienced on the road, take bigger risks and are more likely to get in anaccident and file a claim, which is why they pay more for coverage than older more experienced drivers.

State Farm turned out to be the best insurer in Florida for drivers of all ages. The numbers show the difference between young and old drivers with the lowest premium for a teen coming in at 91% more than the lowest premium for a senior driver.

Once a driver hits 25, rates will start to drop, assuming they keep their driving record clean, and will stay stable until their 70s when they will start climbing a bit.

Cheapest car insurance for senior drivers in Florida

Seniors in the state pay more for coverage than all other driver groups, except for teens. GEICO is the most affordable option for seniors with a yearly premium of $2,036 or $170 a month. State Farm was the second cheapest at $2,050 and Nationwide rounded out the top three at $2,169.

Seniors tend to pay more for coverage due to age. Many seniors suffer from vision and hearing issues as well as slowing reflexes. In addition, medications they may take can impact their driving. All of these factors combined lead to more accidents and claims which will result in a higher premium.

The chart below shows the average premium for senior drivers.

Average rates for seniors in Florida

Car insurance for young drivers in Florida

Young drivers (21-25) have seen their premiums drop from their teen years, but they still pay more than more experienced drivers. In Florida, Nationwide is the cheapest option for young adults with a yearly premium of $2,939 or $245 a month.

State Farm is the next most affordable with an average rate of $3,328 followed by Travelers at $3,657.

Young drivers who maintain a clean driving record can expect their rates to drop even more as they reach their late 20s.

The table below shows the best insurers for young drivers in Florida:

Average rates for young drivers in Florida

Car insurance for teen drivers in Florida

Adding a teen to a car insurance policy will always push up the rate. Teens are the least experienced drivers out on the road which leads to more accidents and claims and higher premiums.

“Teen drivers are statistically more likely to be involved in accidents due to their lack of driving experience and tendency to engage in risky behaviors like speeding,” says Eliezer Zupnick, founder of East Leads Group LLC. “Teens are involved in three times as many auto accidents per mile compared to drivers aged 20 and up, making them a high-risk category for insurers.”

For Florida teens, State Farm is the most affordable option with a premium of $5,541 a year or $462 a month. GEICO is the next most affordable at $6,075 a year or $506 a month followed by Nationwide running $6,724 a year.

If your teen has a B average or better, ask for a good student discount to help save a bit of money. Having your teen drive an older vehicle will also help save some money. If the car is old enough that you wouldn’t repair it after an accident, you may be able to drop collision and comprehensive.

The chart below shows average premiums for teens in Florida:

Average rates for teens in Florida

Average cost of car insurance in Florida

The average cost of car insurance in Florida is $2,694, which makes it the 2^nd most expensive state in the country behind Louisiana and Florida.

Metropolitan areas – and all states have them – equals lots of drivers, which often leads to car crashes and claims.

“States with a higher population density have more cars on the road and thus more accidents and claims, increasing insurance rates. A more rural state like Iowa will have significantly lower average yearly car insurance costs compared to a highly metropolitan state like Florida,” says Gao.

Below are the cheapest car insurance rates by state. To calculate these rates, we used data for a 40-year-old driver of a 2023 Honda Accord LX – one of the most commonly insured vehicles – to provide a consistent and realistic comparison across states.

Average rates for a 40-year-old in Florida

Which Florida ZIP codes are most expensive for car insurance?

Car insurance costs in Florida can vary significantly based on your location, as insurers consider the ZIP code where your vehicle is primarily parked when determining your premium.

Our data shows that the North Miami Beach area came out as the most expensive with an average annual premium of $3,570. Westview was No. 2 and Sweetwater was No. 3.

Here are the most expensive ZIP codes in Florida for car insurance:

Most expensive ZIP codes in Florida

Which Florida ZIP codes are the cheapest for car insurance?

The cheapest ZIP codes for car insurance in Florida tend to be in rural areas where there are fewer people and cars which leads to lower accident and claim rates. Paxton has the most affordable ZIP code in Florida with an annual premium of $2,286.

Least expensive ZIP codes in Florida

Cheapest car insurance for high-risk drivers in Florida

If you have an at-fault accident, DUI or speeding ticket on your driving record, your insurer may consider you a high-risk driver and will push up the cost of your coverage.

A speeding ticket increases the average premium to $3,942 and will stay on your record and impact your premium for three years.

If you are responsible for an accident, your rates will push the average cost of coverage to $4,722.

A DUI is considered a major violation and will raise the average premium to $4,914.

The table below shows the average increase for drivers with an incident on their record:

How much rates increase in Florida after a traffic incident

Minimum car insurance requirements in Florida

Unlike most states, Florida does not require bodily injury liability coverage to drive legally. Instead, drivers must carry:

• $10k in personal injury protection (PIP) to cover their own medical expenses, regardless of who is at fault
• $10,000 in property damage liability (PDL) to pay for damage caused to someone else’s property

Because Florida is a no-fault state, your own PIP coverage applies first after an accident, even if another driver is responsible. However, if you cause injuries to others and don’t carry optional bodily injury liability coverage, you could be held personally responsible for their medical costs and related damages.

That’s why insurance experts often recommend adding bodily injury liability and increasing your limits to at least 100/300/100, which provides stronger financial protection if a serious accident happens.

What our expert says

Q: How does a state’s population affect car insurance rates?

Chong GaoDirector of product management R&D at Mercury Insurance.

“States with a higher population density have more cars on the road and thus more accidents and claims, increasing insurance rates. A more rural state like Iowa will have significantly lower average yearly car insurance costs compared to a highly metropolitan state like Florida.”

Mark Vallet

Contributing Researcher

 

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Mark Vallet is a Denver-based insurance expert and journalist with 18 years of experience covering the car insurance industry. He specializes in breaking down complex insurance topics into clear, expert-backed insights that help drivers make smarter insurance coverage decisions.

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