State Farm offers the cheapest car insurance premiums in Florida with average monthly rates of $54 for minimum coverage and $151 for full coverage
Discover if you are overpaying for car insurance below
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State Farm offers the cheapest car insurance premiums in Florida with average monthly rates of $54 for minimum coverage and $151 for full coverage
Discover if you are overpaying for car insurance below
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Key Takeaways:
With rates on the rise and some insurers dropping out of the auto insurance market altogether, some Florida drivers are finding it harder to get affordable auto coverage in 2024. However, some of the best car insurance companies in the country offer manageable premiums, despite Florida having far more expensive coverage than the U.S. average, according to our rate data.
To help drivers in the Sunshine State find the lowest rates on quality auto policies, we at the MarketWatch Guides team created this guide to finding cheap car insurance. We used the most recent available data from Quadrant Information Services to highlight rate estimates from top providers in different risk categories. You’ll also learn a few ways to possibly lower your premium even more this year.
Learn more about our methodology and editorial guidelines.
State Farm offers the cheapest car insurance rates in Florida. On average, you can expect the rates from the company to be $650 per year for minimum liability policies and $1,813 per year for full coverage plans.
Rates for car insurance vary depending on many factors, so the cheapest rates for you will depend on your unique situation. Below we’ve broken down the lowest rates for each category of coverage.
Cheapest Car Insurance in Florida (by category) | Company | Average Monthly Premium |
Minimum Liability Coverage | State Farm | $54 |
Full Coverage | State Farm | $151 |
Young Drivers | State Farm | $324* |
Seniors | Geico | $144* |
After A Speeding Ticket | State Farm | $162* |
After An Accident | State Farm | $173* |
After A DUI | State Farm | $162* |
Bad Credit | National General | $310* |
Through our research, we’ve found the 5 cheapest companies in Florida are:
Click on any of our top providers listed to learn more about their offerings. Below, we break down the cheapest large and medium-sized insurance companies in Florida. Our average rates are based on the profile of an unmarried 35-year-old driving a 2022 Toyota Camry, as it is representative of a large group of drivers unaffected by factors that raise rates.
According to J.D. Power, a large insurer is one that has written $4.5 billion or more in direct premiums for personal auto lines. Among large insurance companies, State Farm, Geico, Travelers, Allstate and Progressive are the cheapest in Florida. You’ll find the lowest rates in the state overall with these providers.
*Our research team considers nationwide factors when scoring providers. The ranking of providers in this table is specific to car insurance in Florida.
Read more: Largest Auto Insurance Providers
A mid-sized insurer is one that has written between $1 and $4.4999 billion in direct premiums for personal auto lines, according to J.D. Power. Among mid-size providers, we found American INTL Group (AIG), National General and Mercury Insurance provide the cheapest rates for Floridians. You can compare their average premiums and our cost ratings below.
Cheapest Large Car Insurance Company In Florida | Minimum Coverage (Annual) | Full Coverage (Annual) | # Of Discounts | Cost Rating (Entire US)* | Visit Site |
---|---|---|---|---|---|
$1,418 | $3,718 | 8 | 7.6 | ||
$1,450 | $3,668 | 8 | 7.0 |
Cheapest Large Car Insurance Company In Florida | Minimum Coverage (Annual) | Full Coverage (Annual) | # Of Discounts | Cost Rating (Entire US)* | Visit Site |
---|---|---|---|---|---|
$1,418 | $3,718 | 8 | 7.6 | ||
$1,450 | $3,668 | 8 | 7.0 |
*Our research team considers nationwide factors when scoring providers. The ranking of providers in this table is specific to car insurance in Florida.
Florida drivers face some of the most expensive car insurance rates in the country, according to rate data. The average full-coverage premium in the state is $3,244 per year — that’s 61.6% more expensive than the national average. However, it’s possible to find rates as low as $151 per month or $1,813 per year for a full-coverage policy.
In the sections that follow, you’ll find premium estimates from Quadrant Information Services for Florida drivers.
At rates of $54 per month or $650 per year on average, State Farm typically offers the cheapest liability car insurance in Florida:
Company | Average Monthly Rate* | Average Annual Rate* |
State Farm | $54 | $650 |
Geico | $57 | $682 |
Travelers | $85 | $1,019 |
American International Group (AIG) | $97 | $1,162 |
National General | $118 | $1,418 |
Read more: Cheapest Liability-Only Auto Insurance
State Farm tends to offer the cheapest full coverage in Florida, costing an average of $151 per month or $1,813 per year:
Company | Average Monthly Rate | AverageAnnual Rate |
State Farm | $151 | $1,813 |
Geico | $171 | $2,057 |
Travelers | $177 | $2,121 |
Progressive | $266 | $3,196 |
Mercury | $306 | $3,668 |
Read more: Cheapest Full-Coverage Car Insurance
Young drivers tend to pay the most for car insurance coverage, and in 2024 they can find the best rates with State Farm and Geico, according to research done by the MarketWatch Guides team. The tables in these sections show the cheapest full-coverage car insurance options for Florida drivers aged 16 through 25.
Our research found that State Farm offers the cheapest rates on average for 16-year-old drivers in the state at $480 per month.
Cheapest Car Insurance in Florida | Average Monthly Rate | Average Annual Rate |
State Farm | $480 | $5,757 |
Geico | $505 | $6,055 |
National General | $624 | $7,486 |
Travelers | $660 | $7,915 |
United Automobile Insurance Group (UAIG) | $912 | $10,947 |
Read more: Best Cheap Car Insurance For 16-Year-Olds
According to our research, Geico tends to be the cheapest option on average at a cost of $319/mo for 17-year-old drivers.
Cheapest Car Insurance in Florida | Average Monthly Rate | Average Annual Rate |
Geico | $319 | $3,831 |
State Farm | $374 | $4,483 |
Travelers | $588 | $7,061 |
Farmers | $778 | $9,332 |
National General | $782 | $9,389 |
Read more: Best Cheap Car Insurance For 17-Year-Olds
Geico has the cheapest rates for 18-year-olds at $307 per month. Below you can view the lowest cost providers for this group:
Cheapest Car Insurance in Florida | Average Monthly Rate | Average Annual Rate |
Geico | $307 | $3,681 |
State Farm | $339 | $4,069 |
Travelers | $492 | $5,905 |
Progressive | $673 | $8,080 |
UAIG | $680 | $8,161 |
Read more: Best Cheap Car Insurance For 18-Year Olds
At a monthly cost of $290 per month on average, Geico offers the lowest rates for 19-year-olds in Florida.
Cheapest Car Insurance in Florida | Average Monthly Rate | Average Annual Rate |
Geico | $290 | $3,477 |
State Farm | $306 | $3,674 |
Travelers | $394 | $4,733 |
Progressive | $448 | $5,370 |
UAIG | $517 | $6,198 |
Read more: Best Cheap Car Insurance For 19-Year Olds
In the Sunshine State, Geico offers the cheapest rates on average for 21-year-old drivers at $219 per month.
Company | Average Monthly Rate | Average Annual Rate |
Geico | $219 | $2,630 |
State Farm | $251 | $3,010 |
Travelers | $294 | $3,528 |
Farmers | $307 | $3,686 |
Progressive | $394 | $4,724 |
Read more: Best Cheap Car Insurance For 21-Year-Olds
Our research shows State Farm costs $171 per month, which is the cheapest on average for 25-year-old drivers in Florida.
Company | Average Monthly Rate | Average Annual Rate |
State Farm | $171 | $2,049 |
Travelers | $185 | $2,214 |
Geico | $216 | $2,590 |
Progressive | $282 | $3,385 |
Allstate | $327 | $3,921 |
Read more: Best Cheap Car Insurance For 25-Year Olds
Geico offers the cheapest car insurance in Florida for seniors with average annual rates of $1,727 for full coverage. Below we’ll break down costs for auto insurance in the state for 65-75 year olds.
Read More: Cheapest Car Insurance For Seniors
At average rates of $141 per month for full coverage, Geico is the cheapest provider in Florida for 65-year-olds. This pricing is 48% lower than the state average of $270 per month.
Company | Average Monthly Rate | Average Annual Rate |
Geico | $141 | $1,689 |
State Farm | $150 | $1,805 |
Travelers | $165 | $1,979 |
Mercury | $207 | $2,478 |
Progressive | $219 | $2,622 |
Geico is the cheapest provider in Florida for 75-year-olds with an average monthly premium of $147. This sits at around 46% cheaper than the state average of $270.
Company | Average Monthly Rate | Average Annual Rate |
Geico | $147 | $1,766 |
State Farm | $170 | $2,037 |
Travelers | $195 | $2,336 |
Mercury | $250 | $3,002 |
Progressive | $264 | $3,166 |
State Farm offers the cheapest overall car insurance for bad driving records. If you have bad credit, National General has the cheapest rates. The sections below provide monthly and annual average rates for drivers who fall into one of these categories.
Read More: Best Cheap Car Insurance For High-Risk Drivers
State Farm offers the cheapest car insurance for Florida drivers with a speeding ticket, with an average full–coverage cost of $1,939 per year.
Company | Average Monthly Rate | Average Annual Rate |
State Farm | $162 | $1,939 |
Travelers | $218 | $2,613 |
Geico | $297 | $3,562 |
Allstate | $309 | $3,712 |
Progressive | $346 | $4,156 |
Read More: Best Speeding Ticket Car Insurance
State Farm offers the cheapest full coverage for drivers in Florida with a recent accident at an average of $2,075 per year or $173 per month.
Company | Average Monthly Rate | Average Annual Rate |
State Farm | $173 | $2,075 |
Travelers | $235 | $2,820 |
Geico | $245 | $2,942 |
Progressive | $384 | $4,608 |
Allstate | $535 | $6,417 |
Read More: What Is Accident Forgiveness Coverage?
State Farm offers the cheapest full coverage for drivers in Florida with a DUI at $1,939 per year or $162 per month on average.
Company | Average Monthly Rate | Average Annual Rate |
State Farm | $162 | $1,939 |
Travelers | $249 | $2,986 |
Progressive | $299 | $3,593 |
Geico | $308 | $3,693 |
Allstate | $397 | $4,759 |
National General offers the cheapest full coverage for drivers in Florida with bad credit at an average cost of $3,718 per year.
Company | Average Monthly Rate | Average Annual Rate |
National General | $310 | $3,718 |
State Farm | $314 | $3,768 |
Geico | $315 | $3,785 |
UAIG | $320 | $3,835 |
Travelers | $346 | $4,151 |
Read More: Cheapest Car Insurance For Bad Credit
One of the best ways to go about finding cheap car insurance in the state of Florida, like any state, is to compare multiple providers and look for deals in your area. We also suggest talking to an insurance agent to learn more about how to save on auto insurance in the state.
When getting a quote from an auto insurance provider, companies determine your rates based on set variables.
Here are some of the most significant factors insurance providers to determine premiums in Florida:
Read More: Compare Car Insurance
Below you can get personalized cheap auto insurance quotes for your location in Florida.
Below are some car insurance discounts available with our top picks for the cheapest car insurance in Florida:
Florida Car Insurance Discounts | State Farm | Geico | Travelers | Progressive | Allstate |
Multi-policy | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ |
Multi-vehicle | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ |
Safe driver | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ |
Good Student | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ |
Defensive driving | ✔️ | ✔️ | ✔️ | ||
Driver training | ✔️ | ✔️ | ✔️ | ||
New vehicle | ✔️ | ✔️ | ✔️ | ||
Car safety equipment | ✔️ | ✔️ | |||
Loyalty | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ |
Military | ✔️ |
Here’s more information on the standard types of discounts offered by the best car insurance companies:
The cheapest car insurance companies in Florida include State Farm, Geico, Travelers, Progressive and Mercury. Below, we go into more detail about each company’s offerings, reputation, customer ratings and history.
Like many parts of the country, Floridians have seen their rates go up significantly over the past few years. According to our rate data, the average premium for a full-coverage policy jumped by 10.1% to $3,244 in 2023, adding even more to some of the nation’s highest auto insurance rates. Minimum coverage in Florida averages around $1,385 per year or $115 per month, which is about 121% higher than the national average.
However, your rate will vary based on factors including your age and the city you live in. We’ll further break down how those factors impact your auto coverage costs below.
Read More: Average Car Insurance Cost
Below you can compare average rates for drivers from 16-55 in the state:
Age | Average Monthly Rate | Average Annual Rate |
---|---|---|
16 | $1,015 | $12,184 |
25 | $302 | $3,624 |
35 | $270 | $3,244 |
45 | $262 | $3,142 |
55 | $240 | $2,882 |
Typically, drivers in cities like Miami and Tampa pay more for coverage than drivers in more rural parts of the state. The table below shows the average full coverage rates for 25 cities in Florida, based on a married 35-year-old driver with good credit and a clean driving record:
City in Florida | Average Monthly Cost | Average Annual Cost |
Gainesville | $124 | $1,493 |
Tallahassee | $140 | $1,681 |
Cape Coral | $150 | $1,799 |
Lakeland | $157 | $1,880 |
Jacksonville | $159 | $1,903 |
Palm Bay | $159 | $1,903 |
Lehigh Acres | $162 | $1,942 |
Orlando | $162 | $1,947 |
Port St. Lucie | $165 | $1,978 |
Spring Hill | $170 | $2,045 |
Clearwater | $187 | $2,240 |
St. Petersburg | $189 | $2,262 |
Pembroke Pines | $190 | $2,278 |
Davie | $193 | $2,314 |
Brandon | $195 | $2,341 |
Fort Lauderdale | $200 | $2,395 |
Tampa | $205 | $2,465 |
Pompano Beach | $207 | $2,481 |
Hollywood | $209 | $2,504 |
Coral Springs | $209 | $2,511 |
Miramar | $210 | $2,514 |
Miami | $223 | $2,676 |
Miami Gardens | $227 | $2,725 |
Hialeah | $239 | $2,864 |
West Palm Beach | $244 | $2,928 |
According to our rate data, Florida is the second most expensive state to get full coverage car insurance and the most expensive state to get minimum coverage policies. Below you can compare average rates for each state:
State | Average Annual Minimum-Liability Premium | Average Annual Full-Coverage Premium |
Alabama | $502 | $1,775 |
Alaska | $486 | $1,685 |
Arizona | $635 | $2,008 |
Arkansas | $451 | $2,038 |
California | $602 | $2,313 |
Colorado | $566 | $2,173 |
Connecticut | $980 | $1,919 |
Delaware | $1,194 | $2,881 |
Florida | $1,385 | $3,244 |
Georgia | $680 | $1,973 |
Hawaii | $529 | $1,656 |
Idaho | $378 | $1,402 |
Illinois | $441 | $1,541 |
Indiana | $432 | $1,587 |
Iowa | $274 | $1,563 |
Kansas | $475 | $1,918 |
Kentucky | $682 | $2,522 |
Louisiana | $925 | $3,040 |
Maine | $380 | $1,238 |
Maryland | $901 | $1,833 |
Massachusetts | $754 | $2,430 |
Michigan | $1,360 | $3,643 |
Minnesota | $481 | $1,766 |
Mississippi | $453 | $1,658 |
Missouri | $560 | $2,104 |
Montana | $398 | $1,979 |
Nebraska | $356 | $1,871 |
Nevada | $1,283 | $2,788 |
New Hampshire | $415 | $1,362 |
New Jersey | $1,332 | $2,513 |
New Mexico | $536 | $1,943 |
New York | $870 | $2,088 |
North Carolina | $469 | $1,627 |
North Dakota | $445 | $1,916 |
Ohio | $536 | $1,599 |
Oklahoma | $516 | $2,278 |
Oregon | $953 | $1,925 |
Pennsylvania | $437 | $1,981 |
Rhode Island | $1,036 | $2,357 |
South Carolina | $701 | $1,845 |
South Dakota | $328 | $2,291 |
Tennessee | $404 | $1,524 |
Texas | $683 | $2,205 |
Utah | $732 | $1,928 |
Vermont | $310 | $1,199 |
Virginia | $545 | $1,781 |
Washington | $561 | $1,616 |
Washington D.C. | $686 | $2,218 |
West Virginia | $604 | $2,177 |
Wisconsin | $408 | $1,694 |
Wyoming | $308 | $1,702 |
Read More: Car Insurance Rates By State
In recent years, Florida has seen a great deal of change to its insurance industry over a short period of time. As a result, car owners are dealing with a brand new landscape for buying insurance in the state. In this section, we go over why these changes are happening and how you can adapt.
Car insurance companies typically base their rates on the relative risk of having to pay out claims and the projected cost of those claims. That means that as risk factors increase, premiums do too. And when it comes to Florida, several risk factors come into play.
Car insurance hasn’t just gotten more expensive over the last year in The Sunshine State, it’s also gotten harder to find. Over the course of 2023, a few major insurers such as Farmers and several midsize providers announced that they would stop offering auto insurance in Florida.
Hurricanes, flooding and other disasters related to climate have become a problem for insurance providers. According to National Oceanic and Atmospheric Association (NOAA) data, Florida has experienced an average of 5.7 natural disasters causing over $1 billion or more in damages over the past three years.
The increasing frequency of severe weather events has added to the risk of insuring vehicles in the state. This trend has likely changed the math for insurers and contributed to some deciding to leave the Florida auto insurance market.
Insurance companies in Florida have claimed that insurance claim litigation — often fraudulent or frivolous — has been a major contributing factor to higher rates in the state. Earlier this year, findings in a report by The Florida Office of Insurance Regulation supported those claims.
According to the report, Florida accounted for 14.9% percent of insurance claims in the country but 70.9% of claims litigation nationwide. Even if many or most of these lawsuits were dismissed, dealing with lawsuits is an expensive and resource-intensive process for insurers. The current environment of high rates of litigation has made the Florida market more difficult, more expensive and, as a result, less attractive for providers.
Some insurers are leaving Florida by choice, but others have simply been forced to shut their doors. In 2023, the Washington Post reported that United Property and Casualty (UPC) became the ninth insurance provider to become insolvent in Florida since 2021.
UPC was the largest insurer in Florida to become insolvent in 15 years. Some insurance companies may have taken this recent rash of closings as a sign that it was time to leave the market and avoid a similar fate.
Insurance providers leaving the Florida market or changing their offerings could leave hundreds of thousands of Floridians without an auto policy. That could potentially leave drivers in violation of state minimum insurance requirement laws and at risk of fines and other penalties.
Dr. Martin F. Grace, the Harry A. Cochran Professor of Risk, Insurance, & Healthcare Management at the Temple University Fox School of Business told MarketWatch Guides that while this can create a predicament, car owners have resources to help.
“This is a distressing event. In most states, there is an insurer who will provide a buyer with coverage. However, this insurer may not provide the kind of coverage the insured had in the past, and the price might not be acceptable. Deductible choices and the types of coverage options may also be limited. A call to a local independent insurance agent might also be valuable, as they represent many companies and are a good source of information. Consumers can also contact their state’s insurance regulator to obtain lists of insurers licensed in the state.”
Grace said drivers in Florida can go to the National Association of Insurance Commissioners (NAIC) website to find contact information for their insurance commissioner, currently which provides contact information for current Florida insurance commisisioner Michael Yaworsky. The NAIC website also provides links and other insurance information for Floridians.
Although car insurance is expensive in Florida compared to the rest of the country based on our team’s research, finding the lowest rates available to you can still save you considerable money on coverage. There are a few steps you can take to find some of your most affordable premiums:
The required auto insurance in Florida includes personal injury protection (PIP) and property damage liability insurance. The state doesn’t require bodily injury liability insurance, which covers other parties’ medical expenses, funeral expenses and lost wages if you cause an accident.
The minimum Florida car insurance coverage requirements under state law are as follows:
We typically recommend carrying more auto insurance than the state minimum coverage. Though the insurance premium may be burdensome, having full coverage with higher coverage limits can save you money in the long run.
If you have a business vehicle, you’re required commercial auto insurance coverage that depends on the weight of the vehicle and its use:
Driving a car without insurance is illegal in Florida, and the state has severe penalties for doing so. If you’re caught driving without the required insurance, the state can suspend your registration and driver’s license for up to three years. Getting these reinstated can cost up to $500, and Florida doesn’t have a temporary licensing program or make exceptions for hardships.
The safety of Florida roads also plays a role in auto insurance premiums. According to the Florida Department of Highway Safety and Motor Vehicles, there were 393,304 crashes in Florida in 2023. Out of those collisions, 3,157 were fatal.
With the cost of coverage going up and the number of providers in the state dwindling, drivers in Florida have fewer and fewer options for an affordable auto policy. But that doesn’t mean they don’t exist. By using our rate estimates for drivers in similar risk categories and comparing car insurance rates from multiple providers, you can find the cheapest coverage for you and your vehicle.
If you need to bring those rates down even more, you can consider some of the suggestions we listed above, such as increasing your premium or going without less essential coverage options.
When shopping for the cheapest car insurance in Florida, we recommend getting quotes from multiple providers in order to get the lowest rate and best coverage for your situation.
Below are some frequently asked questions about cheap car insurance in Florida:
Based on data from Quadrant Information Services, we found that a full-coverage policy in Florida costs an average of $270 per month. Floridians who opt to only carry the state’s minimum coverage pay $115 per month on average. These rates apply to the profile of a married 35-year-old with a good driving record and good credit.
Car insurance in Florida costs an average of $3,244 per year for full coverage and $1,385 for minimum liability coverage. However, your rate will be determined by factors including your age, driving record and credit score and the city you live in.
Geico tends to have cheaper car insurance policies than Progressive, according to data from Quadrant Information Services. However, insurance rates are highly personalized, so while Geico may be cheaper than Progressive on average, you may find Progressive to be a cheaper option based on your driving profile.
Yes, since Florida is a no-fault state, drivers are required to carry at least $10,000 in PIP coverage.
Most forms of insurance follow the car in Florida. However, the required personal injury protection (PIP) coverage follows the driver and not the car in the state.
In Florida, license plates belong to the state, so you must return yours when you cancel your insurance. Failure to do so could result in your license being suspended.
Car insurance can be expensive in Florida due to a variety of reasons that include the state’s no-fault auto insurance laws, environmental factors, weather risks and driver profiles. About 20% of Florida’s drivers were uninsured in 2019, according to the Insurance Research Council. This makes coverage more expensive for Floridians who do buy insurance.
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
Our credentials:
**Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team at editors@marketwatchguides.