Cheapest Car Insurance in Florida (June 2024)

GEICO offers the cheapest minimum coverage, while Travelers offers the cheapest full coverage car insurance in Florida. Depending on your risk factors, State Farm and Nationwide offer affordable rates for many other drivers.

If you’re looking for a blend of affordability and quality service, consider MoneyGeek’s breakdown of the best car insurance companies in Florida.

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The most affordable car insurance providers in Florida for a minimum coverage policy are:

• GEICO: $635 per year
• Travelers: $642 per year

Direct General Insurance is the most expensive car insurance company in Florida for minimum coverage, with an average annual premium of $1,490. Auto insurance that meets Florida’s minimum insurance requirements only covers property damage liability (PDL) and personal injury protection (PIP).

A minimum coverage policy only covers the cost of damages or injuries you cause to others. If you want broader financial protection, consider a full coverage policy with comprehensive and collision insurance. Full coverage extends to damages to your own vehicle.

On average, the cheapest full coverage car insurance in Florida is offered by:

• Travelers: $1,360 per year
• State Farm: $1,381 per year

Direct General Insurance charges the most for full coverage in Florida, at roughly $2,958 per year. Adding comprehensive and collision coverage to your auto insurance can increase your annual premium. Full coverage insurance from Travelers is $718 more expensive than its minimum coverage policy.

Full coverage car insurance offers more financial protection if you need to file a claim. It covers damages due to on-road accidents (hitting another vehicle or object) and off-road incidents (like theft, fire, vandalism or flooding).

How much car insurance you need will significantly impact your rates. MoneyGeek's sample full coverage policy features liability protection with the following limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident

Lowering your liability limits, removing comprehensive and collision coverage or raising your deductible could help you reduce your insurance payments. However, you risk paying more out of pocket in case of an accident or other event. You could be financially devastated by an at-fault accident, including property damage and injuries.

Many auto insurance companies generate quotes online, but the process can take up to 15 minutes and requires that you submit personal information. To compare rates, you’ll have to submit your information to multiple insurer websites, which requires additional time. Another option is to obtain quotes through local insurance agents.

Instead, MoneyGeek offers a car insurance calculator to help you get a quick estimate without providing personal information to multiple insurers. Get started by selecting your age, sex and driving record below.

On average, Nationwide, Travelers and State Farm have the lowest prices for various age groups in your family.

The following companies tend to offer the cheapest car insurance for teens on a parent’s policy in Florida:

• Nationwide: $3,267 per year for male teens and $2,896 per year for female teens
• State Farm: $3,955 per year for male teens and $3,214 per year for female teens

As the teen policyholder's age increases, car insurance premiums decrease significantly. In Florida, the cheapest car insurance provider for 19-year-old males is Nationwide ($2,795 per year).

On the other hand, Farmers charges the most for male teens, with an average cost of $5,063; Progressive charges the most for females, with an average cost of $5,035. These rates are for a 16-year-old on their parent’s policy.

On average, it's much cheaper to add a teen to your policy than to buy a separate one for them. Usually, teens under age 18 cannot legally purchase their own auto insurance policy — the law requires a parent or guardian to co-sign on the policy. A 16-year-old Floridian might pay $9,389 per year if they buy their own policy vs. $4,449 if their parents add them to an existing policy — a $4,940 difference.

Most of these insurers offer discounts for students away from home and with good grades. GEICO and Nationwide only offer discounts for strong academic performance.

The cheapest car insurance companies for Florida drivers in their 20s are:

• Travelers: $1,555 per year
• State Farm: $1,637 per year

Direct General Insurance is the most expensive car insurance provider for young adults at $3,803 per year on average. Twenty-five-year-old drivers in Florida pay roughly $485 more for car insurance each year than middle-aged drivers.

The cheapest car insurance companies in Florida for senior drivers are:

• State Farm: $1,268 per year
• Travelers: $1,297 per year

Farmers has the most expensive car insurance rates for seniors, at approximately $2,961 per year.

On average, Floridians in their 60s pay about $31 less per year for auto insurance than drivers in their 40s and 50s. However, rates tend to increase as drivers reach their 70s and 80s due to a higher volume of accident frequency and severity.

Allstate, GEICO and Farmers all offer discounts for Florida seniors. Since age is just one of many factors providers use to calculate rates, comparing companies is the best way to find cheap, competitive coverage.

In Florida, Nationwide charges the least for people with poor credit. State Farm is cheapest provider for those with an at-fault accident, a DUI or a speeding tickets on their record. Travelers is the most affordable for drivers of sports cars.

To further reduce insurance costs, drivers should consider taking state-approved driving courses and regularly checking their records for errors. These steps can improve their profile and allow them to access more affordable insurance options.

The following car insurance companies provide the cheapest full coverage policies in Florida for drivers with a speeding ticket:

• State Farm: $1,556 per year
• Travelers: $1,890 per year

Farmers is the most expensive provider at $3,497 per year. On average, you might pay about $571 more on car insurance in Florida after getting a speeding ticket.

For Florida drivers with an at-fault accident on their driving records, the most affordable full coverage car insurance companies are:

• State Farm: $1,688 per year
• Travelers: $1,977 per year

Mercury charges the most for drivers with at-fault accidents — approximately $4,357 per year. Our average rate calculations show that being at fault in a car accident could increase your annual premium by $1,171 in Florida.

If you have a DUI on your record, the cheapest options for full coverage car insurance in Florida are:

• State Farm: $1,556 per year
• Progressive: $2,242 per year

At roughly $4,251 per year, Nationwide is the most expensive auto insurance provider for drivers with a DUI. On average, a DUI raises your annual premium by $912 in Florida.

The most affordable car insurance companies in Florida for drivers with poor credit are:

• Nationwide: $2,582 per year
• Travelers: $2,733 per year

If you have a low credit score, Allstate charges more than any other insurer for car insurance at $4,064 per year.

Credit score is an important factor when insurers calculate your rate since they use a credit-based insurance score to predict insurance losses. If your credit score is below 580, you might pay approximately $1,138 more for car insurance in Florida than someone with a credit score above 750.

Auto insurers found that drivers with poor credit scores are more likely to file claims, so some charge higher insurance premiums in these cases. Like many other states, Florida allows companies to consider your credit-based insurance score when determining rates.

Improving your credit score and money management over time can help you lower your insurance rate. Still, you can also seek insurers that offer safe-driver or other discounts to help offset rate increases based on your credit score.

The least expensive car insurance companies in Florida for drivers with sports cars are:

• Travelers: $1,208 per year
• State Farm: $1,532 per year

With an average annual premium of $2,854, Farmers is the most expensive company to insure a sports car.

Since sports cars have higher repair and replacement costs, auto insurance is usually more expensive than a policy for a standard vehicle. But this is not the case in Florida. Compared to Toyota Camry LE drivers, sports car drivers pay about $84 less on car insurance premiums.

MoneyGeek used a Ford Mustang for the quotes in this study, but car insurance rates can vary widely depending on the car model. Luxury, electric and sports cars are typically more expensive to insure than other model types.

For active military members and veterans, the most affordable car insurance provider in Florida is Travelers at an average rate of $1,360 per year.

USAA also provides inexpensive car insurance policies for military families. This company is available in all states to customers who are members of the military community.

GEICO is another option for military-affiliated drivers. It offers a discount for them and military-focused coverage.

The cost of car insurance in Florida depends on multiple factors, including the city where you live. Drivers who live in neighborhoods with higher rates of theft, vandalism or accidents are more likely to file insurance claims and tend to pay higher premiums.

We found that Cape Coral has the most affordable car insurance in Florida, offered by Travelers at approximately $1,360 per year. Travelers is also the cheapest option in West Palm Beach, where a full coverage policy costs about $2,239. Car insurance is most expensive in Tampa, where an annual full coverage policy from Travelers costs an average of $2,356.

Use our list of Florida cities below to compare the average auto insurance costs by location.

Florida requires drivers to purchase property damage liability and personal injury protection, but it doesn't require bodily injury liability insurance. Drivers also have the option to self-insure in Florida.

Florida law only requires drivers to carry a car insurance policy that meets the state minimum requirements for property damage liability insurance and personal injury protection. Although a minimum coverage policy will help you save money, it offers less financial protection in case of an incident.

Florida requires SR-22 insurance for most serious driving offenses — such as reckless driving, driving without insurance coverage or driving with a suspended license — and FR-44 insurance for a DUI. For the latter, you’ll be required to increase coverage limits to $50,000 in property damage and $100,000 in bodily injury per person and $300,000 in bodily injury per accident.

For additional protection, MoneyGeek recommends buying liability insurance of at least $100,000 per injury and $300,000 per accident, and increasing property damage coverage to $100,000. You may also need comprehensive and collision insurance if you either financed your car purchase or leased your vehicle.

Comprehensive insurance covers repairing or replacing your vehicle if it gets damaged by off-road incidents. Scenarios include theft, fire, vandalism, animal damage and weather-related events, including floods. Collision insurance pays to repair or replace your car if it’s damaged by another vehicle or an object like a telephone pole or tree.

Even if you didn't take out a loan or lease your car, comprehensive and collision insurance can be worth it if you have a valuable vehicle.

You can also meet Florida’s minimum car insurance requirements with a certificate of self-insurance. This means you are liable to pay out of pocket for any expenses related to a vehicular accident, including damages and medical treatments.

To qualify for self-insurance in Florida, you must submit the following documents to the appropriate department of Florida Highway Safety and Motor Vehicles (FLHSMV):

• A notarized financial statement confirming that your net worth is at least $40,000.
• Your driver’s license and Social Security number.
• A list of all the Florida-registered vehicles you own, including the make, model, year, vehicle identification and tag number.

This certificate is valid for one year, and renewing it involves submitting an updated notarized financial statement and a current list of all vehicles you own.

It’s common to have concerns about cost and quality when it comes to car insurance. Our answers to frequently asked questions can help you learn more about car insurance in Florida.