Auto Insurance Coverage: Florida's Average Explained

Florida is one of the most expensive states for auto insurance, with several factors influencing the cost of car insurance in the state. The average cost of car insurance in Florida is $2,694 per year or $224 per month, which is significantly higher than the national average. The cost of car insurance in Florida also varies depending on age, gender, driving history, credit score, and location. For example, the average annual cost for a male driver aged 16-19 is $4,321, while for a female driver in the same age group, it is $3,848. Additionally, drivers with a clean driving record and good credit history will typically pay less for car insurance than those with violations or a poor credit score.

Average cost of auto insurance in Florida by coverage level

The cost of car insurance in Florida is influenced by the level of coverage you choose. The average monthly cost of minimum coverage in Florida is $82, while full coverage with a $1,000 deductible averages $170 per month. Although more expensive, full coverage insurance is often recommended for its comprehensive protection.

Full coverage insurance offers peace of mind by including comprehensive and collision coverage, protecting you against a wider range of incidents. However, you can opt for deductibles to balance the higher premium that comes with this level of coverage.

• State Minimum Liability Only: $988 annual premium/$82 monthly premium
• State Minimum Liability with Full Coverage and $1,500 Deductible: $1,486 annual premium/$124 monthly premium
• State Minimum Liability with Full Coverage and $1,000 Deductible: $1,497 annual premium/$125 monthly premium
• 100/300/100 Liability Only: $1,535 annual premium/$128 monthly premium
• State Minimum Liability with Full Coverage and $500 Deductible: $1,584 annual premium/$132 monthly premium
• 300/500/300 Liability Only: $1,784 annual premium/$149 monthly premium
• 100/300/100 Full Coverage with $1,500 Deductible: $2,033 annual premium/$169 monthly premium
• 100/300/100 Full Coverage with $1,000 Deductible: $2,044 annual premium/$170 monthly premium
• 100/300/100/500 Comprehensive and Collision: $2,131 annual premium/$178 monthly premium
• 300/500/300 Full Coverage with $1,500 Deductible: $2,276 annual premium/$190 monthly premium
• 300/500/300 Full Coverage with $1,000 Deductible: $2,287 annual premium/$191 monthly premium
• 300/500/300 Full Coverage with $500 Deductible: $2,375 annual premium/$198 monthly premium

While the above figures provide a general idea of costs, it's important to remember that car insurance premiums can vary widely depending on individual factors such as age, gender, driving record, and credit score.

Average car insurance cost in Florida by age of the driver

The average cost of car insurance in Florida varies depending on the age of the driver. Age is a significant factor in determining car insurance rates, with younger and less experienced drivers typically facing higher premiums due to the increased risk associated with their lack of driving history.

Here's a breakdown of the average cost of car insurance in Florida by the age of the driver:

For Teen Drivers:

In Florida, a 16-year-old male driver added to a family policy can expect to pay an average of $5,673 per year for car insurance. If the 16-year-old male driver opts for an individual policy, the premium increases significantly to $10,916 per year. Female teen drivers typically pay lower premiums than their male counterparts.

For Young Adults:

Drivers in their 20s, especially those aged 22-29, often face higher insurance rates in Florida. The average cost of car insurance for a 22-year-old in the state is $2,540 per year for full coverage and $1,149 per year for minimum coverage. For a 25-year-old driver, the average annual premium is around $1,533 for full coverage and $824 for minimum coverage.

For Middle-Aged Adults:

Drivers in their 30s to 50s typically see a decrease in their car insurance premiums. In Florida, the average cost of full coverage car insurance for a 30 to 59-year-old driver is $2,044 per year, while minimum coverage costs around $988 per year.

For Senior Drivers:

In Florida, car insurance rates tend to increase again for drivers in their 70s due to concerns about decreased reaction time and poorer eyesight. For drivers aged 60 and above, the average cost of full coverage car insurance is around $2,010 per year, while minimum coverage costs approximately $1,000 per year.

It's important to note that these averages may vary depending on other factors such as gender, driving record, location, and credit history. Additionally, the cost of car insurance can differ significantly between insurance providers, so it's always a good idea to shop around and compare quotes to find the best rate for your specific situation.

Average car insurance cost in Florida by city

The average cost of car insurance in Florida is $3,451 for full coverage and $1,055 for minimum coverage, which is significantly higher than the national average. The average cost of car insurance in the US is $2,348 per year for full coverage and $639 for minimum coverage.

The cost of car insurance in Florida varies depending on the city. Gainesville has the cheapest car insurance in the state, with an average cost of $1,367 for full coverage. Hialeah has the most expensive car insurance, with an average cost of $2,579 for full coverage.

Several factors affect the cost of car insurance in Florida, including age, level of coverage, location, driving record, and credit history.

Average car insurance cost in Florida for young drivers

The average cost of car insurance in Florida is $3,451 for full coverage and $1,055 for minimum coverage. This is significantly higher than the national average.

The average cost of car insurance for young drivers in Florida depends on their age. For instance, a 16-year-old male driver in Florida, added to a family policy, would pay an average of $5,673 per year. If that same 16-year-old boy were to opt for an individual policy, the premium would skyrocket to $10,916.

Young drivers in their late teens and early twenties typically face the highest insurance rates. In Florida, 22-29-year-olds pay an average of $2,540 per year for car insurance.

As drivers mature, premiums tend to decrease. In Florida, drivers over 60 benefit from the most affordable rates, at $2,010 per year.

Average car insurance cost in Florida for senior drivers

Florida is one of the most expensive states for auto insurance, with a range of factors influencing the cost of premiums. The average cost of car insurance in Florida is $3,451 for full coverage and $1,055 for minimum coverage, according to Bankrate's research. The average cost for full coverage is $2,044 per year, or $170 per month, while the cost for a minimum coverage policy is $988 per year, or $82 per month.

Age is a significant factor in determining car insurance costs in Florida, with younger drivers paying higher premiums than older, more experienced drivers. For instance, a 16-year-old driver in Florida would pay $5,984 per year, while a driver aged 50-60 would pay $1,641. Senior drivers in their 60s can expect to pay around $34 less per year than drivers in their 40s and 50s. However, rates tend to increase as drivers reach their 70s and 80s.

The cost of car insurance in Florida is also influenced by factors such as gender, driving record, credit score, and location. Men tend to pay more than women, especially at younger ages. A clean driving record and a good credit score can help reduce premiums. Additionally, car insurance costs can vary depending on the city, with Gainesville offering the cheapest rates and Hialeah being the most expensive.

Frequently asked questions