- Best car insurance companies in Florida: Travelers
- Cheapest car insurance companies in Florida: State Farm
- Average cost of car insurance in Florida
- Cheapest car insurance rates in Florida by driving record
- Cheap car insurance in Florida for drivers with bad credit
- Minimum car insurance requirements in Florida
- Cheapest car insurance companies for minimum liability coverage in Florida
- Why is car insurance so expensive in Florida?
- Florida car insurance recommendations
- How can you save on Florida auto insurance?
- Other things Florida drivers should know
- Compare auto insurance rates by city in Florida
- Methodology
- Compare auto insurance rates with other states
Best car insurance companies in Florida: Travelers
Travelers is the best car insurance company in Florida, based on an analysis by Insurance.com, with an overall rating of 3.75. Geico, Nationwide, State Farm, are Progressive are among the top car insurance companies in Florida.
Below is a full list of the top Florida car insurance companies based on price, NAIC complaint ratio, and AM Best financial ratings. The total Insurance.com score is calculated out of five using these factors.
| Company | AM Best | JD Power | NAIC | Insurance.com score | Average annual premium |
|---|---|---|---|---|---|
| Travelers | A++ | 798 | 0.49 | 3.75 | $2,356 |
| Geico | A++ | 812 | 0.91 | 3.72 | $2,214 |
| Nationwide | A+ | 810 | 0.64 | 3.64 | $2,150 |
| State Farm | A- | 833 | 0.70 | 3.51 | $2,119 |
| Progressive | A+ | 801 | 0.65 | 3.19 | $2,902 |
| National General Insurance | A+ | 866 | 1.52 | 3.13 | $3,103 |
| Farmers | A | 777 | 0.80 | 2.87 | $3,261 |
| Allstate | A+ | 821 | 0.65 | 2.80 | $3,569 |
| Mercury Insurance | A | 794 | 0.84 | 2.47 | $3,358 |
Cheapest car insurance companies in Florida: State Farm
Based on a rate analysis by Insurance.com, State Farm offers the cheapest full coverage car insurance in Florida open to all drivers, with an average annual rate of $2,119.
Geico is the cheapest company for state minimum liability, with an average annual rate of $561. At $1,150 annually, Travelers also offers the cheapest liability car insurance in Florida.
Don't just go with the first insurer you come across. Comparison shopping is the key when it comes to finding the best deal on auto insurance. Get quotes from several different insurers and compare their rates. You may be surprised at how much difference there can be in rates from one company to another.
We have gathered price quotes from all the major insurance providers and put together a list of the cheapest car insurance companies in Florida.
| Company | State minimum liability | 50/100/50 liability | 100/300/100 liability with $500 deductible |
|---|---|---|---|
| State Farm | $647 | $1,170 | $2,119 |
| Nationwide | $841 | $1,384 | $2,150 |
| Geico | $561 | $1,238 | $2,214 |
| Travelers | $715 | $1,150 | $2,356 |
| United Automobile Insurance | $1,702 | $2,150 | $2,796 |
| Progressive | $1,383 | $2,045 | $2,902 |
| National General Insurance | $1,166 | $1,912 | $3,103 |
| Farmers | $925 | $1,716 | $3,261 |
| Mercury Insurance | $1,020 | $2,007 | $3,358 |
| Allstate | $1,084 | $1,835 | $3,569 |
Average cost of car insurance in Florida
The average cost of car insurance in Florida is $2,694 a year for a full coverage policy with a coverage level of 100/300/100 for a driver age 40, according to a rate analysis by Insurance.com. For the state minimum coverage, the average annual cost in Florida is $993.
Cheapest car insurance rates in Florida by driving record
Drivers with accidents or tickets are considered high-risk drivers and will pay higher car insurance rates. In Florida, State Farm offers the cheapest car insurance in Florida for drivers with an accident, at $2,522 per year. However, the severity and frequency of the incidents will impact how much insurance rates increase.
On the other hand, State Farm is the cheapest option for drivers with speeding tickets on their driving record at $2,356 per year.
Below are average Florida rates by company for drivers with accidents and tickets on their driving record.
| Company | Clean record | Accident | Speeding Ticket |
|---|---|---|---|
| Geico | $1,674 | $2,549 | $2,777 |
| State Farm | $2,189 | $2,522 | $2,356 |
| Travelers | $2,573 | $3,837 | $3,825 |
| Nationwide | $2,610 | $3,897 | $3,898 |
| Mercury Insurance | $3,194 | $6,040 | $4,464 |
| Allstate | $3,233 | $5,354 | $3,314 |
| Progressive | $3,452 | $5,933 | $4,965 |
| National General Insurance | $3,805 | $5,740 | $4,391 |
| Farmers | $4,423 | $6,725 | $5,534 |
Cheap car insurance in Florida for drivers with bad credit
State Farm is the cheapest car insurance in Florida for drivers with bad credit among those surveyed by our experts. Compared to drivers with good credit, those in Florida with bad credit pay 74% more, on average. The good news is that you can still shave some money off your coverage costs if you compare car insurance companies. You'll see below that the difference among major insurers is nearly $2,618 for a full coverage policy for a driver with bad credit.
| Company | Average annual rate (poor credit) |
|---|---|
| Geico | $3,105 |
| National General | $3,769 |
| Nationwide | $3,942 |
| State Farm | $4,045 |
| Mercury | $4,660 |
| Travelers | $5,287 |
Minimum car insurance requirements in Florida
The minimum car insurance required in Florida is 10/20/10. The average cost of the state minimum liability insurance is $955 annually or $80 monthly.
Cheapest car insurance companies for minimum liability coverage in Florida
Insurance.com data show that Geico offers the most affordable state minimum liability coverage, costing an average of $525, or $44 a month.
The table below shows the cheapest car insurance companies for minimum coverage in Florida.
| Company | Liability insurance premium | Monthly liability insurance premium |
|---|---|---|
| Geico | $525 | $44 |
| State Farm | $647 | $54 |
| Travelers | $702 | $58 |
| Nationwide | $808 | $67 |
| Mercury Insurance | $954 | $80 |
| Farmers | $965 | $80 |
| Allstate | $1,071 | $89 |
| National General Insurance | $1,200 | $100 |
| Progressive | $1,312 | $109 |
| United Automobile Insurance | $1,742 | $145 |
How much car insurance do you need?
Florida minimums are extremely low. If you’ve ever had to repair a newer-model vehicle or pay for a hospitalization, $10,000 doesn’t get you far. You’ll have to pay for any amount over the $10,000 limit out of pocket. For the best auto insurance in Florida, you should bump up coverage limits to ensure you have enough financial protection in case of a serious accident.
If you have a loan or lease on your car, you will also be required to carry both comprehensive and collision insurance.
Why is car insurance so expensive in Florida?
Florida car insurance prices are much higher than the national average. The cost of a policy for the average Florida driver is $2,560, nearly $1,000 more than the national average of $1,682.
Some of the reasons Florida car insurance is higher than average include:
- The largest number of uninsured drivers in the country: Almost 27% of drivers in Florida don’t have car insurance. If you’re involved in an accident, you’ll have little recourse against an uninsured driver.
- No-fault insurance laws. No-fault insurance can lead to more insurance payouts and raise rates for everyone.
- Bad weather: Hurricanes and hail are a regular occurrence in Florida. Heavy rainfall and flooding are also hazards for drivers, causing frequent accidents.
- Demographics: Florida has a large population of senior drivers, who are statistically more likely to be involved in crashes.
- Traffic and tourists. Florida already has a large population and a lot of traffic. The many tourists who visit the state each year also contribute to traffic and can pose a risk on the roads since they don't know their way around.
Florida car insurance recommendations
While every driver's needs are individual, it's recommended that most drivers consider adding coverage above the state minimum. Some optional coverages you should include to make sure you have the best car insurance in Florida include:
Bodily injury liability
Bodily injury liability (BIL) pays for serious and permanent injury or death to others should you cause a crash. If you have BIL insurance, your insurance company will not only pay for injuries up to the limits of your policy but also provide legal representation should you get sued.
Uninsured/underinsured motorist
Uninsured/underinsured motorist (UM/UIM) coverage will provide extra coverage if the other party doesn’t have car insurance or is underinsured. It’s not mandatory coverage, but when you consider that one in four drivers don’t have car insurance in Florida, it's a good idea to have it.
Full coverage
Buying comprehensive and collision coverage is known as full coverage. If you’ve financed your car and making payments, you’re probably required to have full coverage. If you don’t owe money on your vehicle, having full coverage is still a good idea.
Comprehensive insurance will cover your vehicle for things like fire, theft, vandalism, hitting an animal, a tree branch falling on your vehicle, or severe weather damage. Collision will pay to repair your vehicle if you are in a single-vehicle crash or if you're at fault in an accident.
How can you save on Florida auto insurance?
There are a few ways to cut the cost of your premiums and still have the best auto insurance Florida coverage. Here are five tips.
1. Take advantage of auto insurance discounts
The best car insurance companies in Florida have a variety of ways you can save on your coverage. You may even be able to take advantage of more than one. Some discounts include:
- Payment discounts for prepayment, automatic payments and paperless billing
- Safety and security vehicle equipment
- Safe driver discounts for no claims or accidents
- Occupational discounts for the military, educators, doctors and more
2. Bundle your insurance
If you also own a home or have renter’s insurance, bundling all your policies with one insurance company can net you a nice discount. It will be much easier to manage them, too.
3. Compare quotes from multiple companies
Before you sign up for coverage, get three to five quotes. The same type of coverage could vary in price from one insurance company to another.
4. Raise your deductible
The deductible is the amount you’ll pay when you file a claim before the insurance company pays the rest. Consider raising the deductible to lower your monthly insurance premiums. Just make sure you can afford the higher deductible in the future.
5. Take a driving safety course
Many insurance carriers will give you a significant discount on your car insurance if you complete an approved defensive driving or driver safety course. The best part is, the discount will apply for the next three years.
Other things Florida drivers should know
If you’re new to Florida, it’s also important to be aware of the state’s rules and requirements.
Make sure you’re properly insured
If you move to Florida from another state, ask your insurance agent if your company writes in Florida (most do) and to transfer your insurance to Florida. You can look up insurance companies licensed to do business in Florida at the company directory on the Florida Office of Insurance Regulation.
Have proof of insurance with you at all times
Your insurance company will issue you a Florida insurance I.D. card. Keep this card with you and present it to law enforcement when asked. If you don't carry a valid car insurance policy and you’re stopped by the police or involved in a crash, you could lose your driver's license. The state of Florida could suspend your license for up to three years or until you prove you have purchased coverage. Driver’s license reinstatement fees in Florida are:
- $150 for the first offense
- $250 for a second offense within three years
- $500 for a third offense
Register your out-of-state vehicle when you move to Florida
You’ll need to trade in your out-of-state tags for a Florida one within 10 days of moving to Florida. To register your vehicle you'll need:
- Proof of identity
- Proof of Florida car insurance
- A signed and completed Application for Certificate of Title With/Without Registration
Auto insurance laws in Florida also apply to snowbirds
If you only live in Florida during the winter months, you need Florida registration and car insurance. If you leave your car in Florida while you head north, it still must be insured while you are away. Some car insurance companies in Florida provide seasonal coverage — be sure to ask your insurance carrier about it.
Discounts for drivers over 55
If you have a Florida driver's License and are 55 or older, you may complete a six-hour motor vehicle accident prevention course. You can take the course online. As long as the completed course is recognized by the Florida Department of Highway Safety and Motor Vehicles, you’ll be eligible to receive a discount on your automobile insurance, good for three years.
Florida's graduated licensing system for new drivers
Florida has graduated driver's licensing. You can apply for a learner's permit after you turn 15. You’ll need to pass:
- Traffic law and substance abuse course
- Written test
- Hearing exam
- Vision test
With a permit, you can drive as long as a licensed driver at least 21 years old is in the front passenger seat.
Once you're 16, you can earn an intermediate license and drive between the hours of 6 a.m. and 11 p.m. When you're 17, you can drive between 5 a.m. and 1 a.m. When you turn 18, all restrictions are removed.
Compare auto insurance rates by city in Florida
Auto insurance rates in your city can differ significantly from the state average due to factors such as population density, increased instances of auto theft or accidents, and a few other factors. It's best to compare quotes from various insurance providers to find the most competitive rates for your specific city in Florida.
Methodology
Insurance.com commissioned Quadrant Information Services in 2023 to field rates from major insurers in every state across most ZIP codes. Driver profile: male, age 40, driving a 2023 Honda Accord LX with full coverage of 100/300/100 with comprehensive and collision; $500 deductible.
The car insurance rates for drivers with accidents and tickets are averaged based on rates for the following accidents and tickets:
Accidents:
- 1 at-fault property damage accident over $2k
- 1 at-fault property damage accident under $2k
- At-fault bodily injury accident
- Single vehicle accident
Tickets:
- Distracted driving ticket
- Speeding ticket 1- 10 MPH over limit
- Speeding ticket 11- 29 MPH over limit
- Talking on cellphone ticket
- Texting ticket
Insurance.com analyzed rates from more than 34,000 ZIP codes, 56 million quotes, and 136 companies. Rates sourced from Quadrant Data Services are for comparison purposes only; your rates may differ.
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