Florida Auto Insurance: How Much?

Florida is one of the most expensive states for auto insurance. The average cost of car insurance in Florida is $224 per month or $2,694 per year for a full coverage policy with limits of 100/300/100. The state's minimum car insurance requirements include $10,000 of bodily injury liability per person, $20,000 of bodily injury liability per accident, and $10,000 of property damage liability. The average cost of a minimum coverage policy in Florida is $993 a year.

Average cost of auto insurance in Florida

The cost of auto insurance in Florida is dependent on several factors, including age, gender, location, driving record, credit score, and the level of coverage. The average cost of auto insurance in Florida is $224 per month or $2,694 per year, which is significantly higher than the national average.

Average Cost by Coverage Level

The cost of auto insurance in Florida varies depending on the level of coverage. The state's minimum coverage requirements include $10,000 of personal injury protection (PIP) and $10,000 of property damage liability. The average cost of a minimum coverage policy is $953 per year or $79 per month. On the other hand, the average cost of a full coverage policy is $1,947 per year or $162 per month. Full coverage includes comprehensive and collision insurance, which provides additional protection in the event of an accident, theft, or natural disaster.

Average Cost by City

The cost of auto insurance in Florida also varies by city. North Miami Beach is the most expensive city, with an average annual rate of $3,570, while Paxton is the cheapest, with an average rate of $2,286. Traffic congestion, the number of uninsured drivers, the cost of repairs and medical bills, and the crime rate are some of the factors that influence rates by city.

Average Cost by Age

Age is a significant factor in determining auto insurance rates in Florida. Teen drivers and young adults tend to pay higher rates than older, more experienced drivers. The average annual cost for drivers aged 16-19 is $7,264, while drivers aged 20-25 pay an average of $3,933. The lowest rates are for drivers aged 30-60, who pay an average of $2,645 per year. Senior drivers, aged 60 and above, pay an average of $2,636 per year.

Average Cost by Driving Record

A clean driving record can help keep auto insurance rates low. Traffic violations, such as speeding tickets and DUI convictions, will increase rates significantly. A DUI conviction can raise rates by 35%, while an at-fault accident can increase rates by up to 46%.

Average Cost by Credit Score

Credit score also plays a role in determining auto insurance rates in Florida. Drivers with excellent credit scores can expect to pay an average of $1,352 per year, while those with poor credit scores will pay an average of $2,804. A good credit score indicates financial responsibility and lowers insurance risks, resulting in more affordable rates.

Factors affecting auto insurance rates in Florida

Several factors influence auto insurance rates in Florida. Here are some key considerations:

Geographical Location

The cost of auto insurance in Florida varies depending on your ZIP code and city. Accident frequency and crime rates differ between cities, impacting insurance premiums. For example, living in Orlando or St. Petersburg may result in savings compared to Tampa or Miami.

Driving Record and History

Insurance companies consider your driving record when calculating premiums. Accidents, speeding violations, or driving under the influence (DUI) convictions on your record will lead to higher insurance rates. Safe driving habits and accident-free years can help lower your premium over time.

Age, Gender, and Marital Status

Age is a significant factor, with younger and older drivers often paying more for coverage. Additionally, male drivers typically face higher insurance costs than female drivers, although this gap tends to narrow around age 30 in Florida. Being married can also result in lower auto insurance rates.

Vehicle Type and Safety

The type of vehicle you drive and its safety features can impact your insurance rates. Safer vehicles with better protection for drivers and passengers may qualify for lower premiums. On the other hand, cars that are more susceptible to damage, occupant injury, or theft will likely have higher insurance costs.

Credit History

Insurance companies often use credit history as a factor in determining insurance rates. Maintaining a good credit score can positively influence your auto insurance costs.

Mileage and Usage

The more miles you drive annually, the higher your insurance premium is likely to be due to an increased chance of collisions. Business use of a vehicle also contributes to higher insurance rates. Usage-based insurance programs, such as pay-per-mile insurance or telematics programs, can help offset high mileage by offering discounts for low mileage or safe driving habits.

Environmental Factors

Florida's environmental factors, such as traffic density and weather risks, contribute to higher insurance rates. The state's busy roads and highways increase the likelihood of accidents. Additionally, extreme weather conditions like hurricanes and tornadoes can result in comprehensive insurance claims and total vehicle losses, leading to higher insurance costs.

State Requirements and Healthcare Costs

Florida's no-fault auto insurance laws and additional insurance requirements, such as personal injury protection (PIP), impact insurance rates. The state's high healthcare costs also play a role, as insurance providers use premiums to cover medical expenses for drivers and their passengers.

Number of Uninsured Drivers

Florida has a relatively high rate of uninsured drivers, which can increase insurance costs for those who are insured. Purchasing uninsured motorist insurance is encouraged to protect against accidents with uninsured drivers, but this additional coverage further increases insurance costs.

Cheapest auto insurance companies in Florida

The cost of car insurance in Florida is higher than the national average. The average cost of car insurance in Florida is $2,694 a year, or $224 a month, while the national average is $1,895 a year. However, there are a few insurance companies that offer cheaper rates.

State Farm

State Farm is the cheapest car insurance company in Florida, according to multiple sources. The average cost of a full-coverage policy in Florida is $233 per month, but State Farm offers coverage for $134 per month — 42% less than the state average. State Farm also has the cheapest rates for drivers with a speeding ticket on their record.

Geico

Geico is another one of the cheapest car insurance companies in Florida, with rates 36% cheaper than the statewide average. They also have the cheapest rates for drivers with poor credit and are the best option for minimum-coverage auto insurance.

Travelers

Travelers has the cheapest rates for full-coverage car insurance in Florida, with rates 30% cheaper than the statewide average. They also have a low level of consumer complaints and offer a range of useful coverage add-ons.

Nationwide

Nationwide has the fourth cheapest rates in Florida, 10% cheaper than the statewide average. They also have low rates for families with young drivers and offer add-ons like gap insurance and accident forgiveness.

Auto insurance rates in Florida by age

Auto insurance rates in Florida vary depending on age, gender, driving history, and location. In general, younger drivers pay higher insurance rates than older drivers. Here is a breakdown of auto insurance rates in Florida by age:

Auto Insurance Rates for Teen Drivers in Florida

Based on data from May 2024, teen drivers in Florida can find the best rates with Geico, State Farm, and Travelers. The average monthly cost of car insurance for a 16-year-old in Florida is $449 with Geico, compared to the statewide average of $622. For 17-year-olds, Travelers offers the cheapest rates at an average of $435 per month, while for 18-year-olds, Travelers has the lowest rates at $400 per month.

Auto Insurance Rates for Young Adults in Florida

Geico and Travelers offer the cheapest auto insurance rates for young adults in Florida. For 19-year-olds, Travelers is the most affordable option, with an average monthly cost of $353. Geico is the cheapest for 21-year-olds, with an average monthly rate of $299. For 25-year-olds, Geico again offers the lowest rates at an average of $214 per month.

Auto Insurance Rates for Seniors in Florida

Geico offers the cheapest auto insurance rates for seniors in Florida, with an average annual cost of $1,891 for full coverage. The average monthly cost of car insurance for 65-year-olds in Florida is $149 with Geico, compared to the state average of $300. For 75-year-olds, Geico is again the most affordable option, with an average monthly rate of $166.

Auto Insurance Rates for Different Age Groups in Florida

Age significantly impacts auto insurance rates in Florida. Younger drivers, especially those aged 22 to 29, typically face higher insurance rates. As drivers mature, premiums generally decrease. Here are the average annual costs for different age groups in Florida:

• 22 to 29 years old: $2,409
• 30 to 59 years old: $1,947
• 60 years old and above: $1,912

When it comes to auto insurance rates in Florida, age is a significant factor. Younger drivers tend to pay higher rates, while older drivers benefit from more affordable premiums. It's important to compare quotes from multiple providers and consider factors such as driving history, location, and available discounts to find the best rates for your specific situation.

Auto insurance rates in Florida by city

Auto insurance rates in Florida vary depending on the city and the company providing the insurance. The city you live in has a significant impact on how much you pay for car insurance. Here is a look at the average rates for full-coverage car insurance in Florida cities of various sizes. These rates are for 35-year-old drivers with good credit and clean driving records.

Miami

Miami is one of the most expensive cities in Florida for car insurance. The average monthly cost of full coverage in Miami is $315, and the average annual cost is $3,780.

Jacksonville

Jacksonville is another expensive city for car insurance in Florida. The average monthly cost of full coverage in Jacksonville is $298, and the average annual cost is $3,576.

Tampa

Tampa is slightly more affordable than Miami and Jacksonville for car insurance. The average monthly cost of full coverage in Tampa is $285, and the average annual cost is $3,420.

Orlando

Orlando has some of the lowest car insurance rates in Florida. The average monthly cost of full coverage in Orlando is $250, and the average annual cost is $3,000.

St. Petersburg

St. Petersburg has slightly higher car insurance rates than Orlando. The average monthly cost of full coverage in St. Petersburg is $265, and the average annual cost is $3,180.

Florida drivers pay some of the highest car insurance rates in the country. The average cost of full coverage in Florida is $3,244 per year, which is about 62% more expensive than the national average. The high cost of car insurance in Florida is due to several factors, including the state's no-fault auto insurance laws, environmental factors, weather risks, and a high number of uninsured drivers.

The cheapest car insurance companies in Florida include Geico, State Farm, and Travelers. The average monthly cost of full coverage from these companies is around $200, and the average annual cost is around $2,400.

Frequently asked questions