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 and 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 has the lowest average rate in Florida at $2,119 a year or $177 a month.

Nationwide is the next most affordable at $2,150 annually and GEICO at $2,214. While these insurers had the cheapest average premiums, there are plenty of other options for coverage in the state.

Insurers consider a wide variety of factors when setting a rate and use proprietary algorithms which can result in dramatic differences in premium quotes. 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.”

The data shows how shopping around for coverage can result in savings. While State Farm had the lowest average rate at $2,119, Allstate was the most expensive at $3,569.

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.

Cheapest full-coverage insurance in Florida

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 pay more for car insurance than other drivers, excluding teens. GEICO is the best choice for seniors in Florida, according to our data, with an average premium of $2,036 annually, which translates to $170 a month.

State Farm was the second most affordable at $2,050 and Nationwide was next with a premium of $2,169.

“Seniors tend to have slower reaction times and may suffer from vision or hearing impairments, which can impair their driving ability. This makes them more prone to accidents and thus considered high-risk by insurance companies,” says Tariro Goronga, CEO of DriveSafe driving schools in Colorado.

The table below shows the average premium for senior drivers.

Average rates for seniors in Florida

Car insurance for young drivers in Florida

While rates start to drop for teen drivers as they become young adults, they still pay slightly higher rates than more experienced drivers. According to our data, Nationwide is the cheapest insurer for drivers in their early 20s with an average premium of $2,939 a year or $245 per month.

State Farm was the second cheapest insurer at $3,328 and Travelers will insure a young driver in Florida for $3,657 a year.

Rates will continue to drop (assuming a clean driving record) as drivers hit their late 20s and move into their 30s.

The chart below shows the average premiums for young drivers.

Average rates for young drivers in Florida

Car insurance for teen drivers in Florida

Although teen drivers always pay much higher premiums than other driver groups, State Farm offers teens the cheapest rate at $5,541. Teen drivers are inexperienced and are big risk takers which results in more accidents and claims, pushing up the cost of coverage.

“Teenagers are more likely to be involved in accidents than older drivers because of their lack of experience. This increased risk results in higher insurance rates because insurance companies regard them as high-risk drivers,” says Goronga. “Teenagers are also more likely to engage in risky driving behaviors, such as distracted driving or speeding, increasing their chances of being involved in an accident.”

GEICO has the second most affordable premium at $6,075 a year followed by Nationwide at $6,724 annually.

Our data clearly shows how dramatic premium differences can be for teens and how important shopping your coverage is when trying to find the best rate for your specific risk factors. While State Farm was the most affordable at $5,541, Farmers was the most expensive with an annual premium of $13,080.

There are a few ways to save some money when insuring a teen. Ask your insurer for a good student discount if they are carrying a B average or better. Putting your teen in an older vehicle that you wouldn’t repair after an accident can help save some money by dropping collision and comprehensive. Just keep in mind that doing so means you’ll be on the hook for any damage if they’re in a crash.

The chart below shows average premiums for teens in Florida:

Average rates for teens in Florida

Average cost of car insurance in Florida

Florida is the 2^nd most expensive state (Louisiana is number one) when it comes to car insurance with an average premium of $2,694.

The table below shows the average rate in each state for a 40-year-old driver of a 2023 Honda Accord LX.

Average rates for a 40-year-old in Idaho

Which Florida ZIP codes are the most expensive for car insurance?

Insurers consider the ZIP code where your car is parked when setting a premium. High crime rates or frequent severe weather will result in a higher premium.

According to our analysis, the following ZIP codes are the most expensive in Florida for car insurance. North Miami Beach tops the charts at $3,570 a year.

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?

When it comes to cheap car insurance in Florida, these ZIP codes have the most affordable coverage. The area around Paxton has the lowest premiums in Florida with an average premium of $2,286.

Least expensive ZIP codes in Florida

Cheapest car insurance for high-risk drivers in Florida

If you have an incident on your driving record, you may be considered a high-risk driver, and you will pay more for coverage. A speeding ticket, at-fault accident, or DUI can send your premium skyrocketing.

When we ran the numbers, we found that a speeding ticket in Florida will push the average rate to $3,942 and an at-fault accident will push it to $4,722.

An accident will stay on your record for at least three years so you will be paying a higher premium for quite a while after an accident.

A DUI will usually result in a massive increase and could push your premium into unaffordable territory. If you are convicted of a DUI, your rate on average will climb to $4,914 a year. A DUI will be reported to insurers for three years, and if you are a commercial driver, it stays on your record for 55 years.

The table below shows the average increase for drivers with various incidents 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.”

Explore other insurance options in Florida

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Average homeowners insurance cost in 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.