Cheapest Car Insurance in Florida in September 2024 | Bankrate (2024)

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Updated Sep 01, 2024

Sunshine State drivers tend to have to budget more for auto insurance than drivers in many other states. The average cost of minimum coverage in Florida is $1,055 per year, while full coverage averages $3,451, 48 percent more than the national average of $2,348. There are multiple reasons for these high rates, from accident-prone urban areas to hurricane risk and uninsured drivers, and it's important to note that premiums aren't likely to drop in the near future. You may be able to find affordable coverage in Florida, however, with a little help from Bankrate.

Key takeaways

• Cheapest company for minimum coverage: Geico
• Cheapest company for full coverage: Progressive
• Cheapest company for drivers with prior incidents: Allstate
• Cheapest company for young drivers: Allstate

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Minimum coverage requirements for Florida drivers

Based on proprietary rate data provided by Quadrant Information Services, the average annual premium for a minimum coverage policy in Florida is $1,055. Drivers in Florida have to carry at least a minimum amount of coverage to drive legally. As Florida is a no-fault state, this includes:

• $10,000 personal injury protection (PIP)
• $10,000 property damage liability per accident

While bodily injury liability is not a state requirement in Florida, insurance experts recommend that drivers carry higher levels of liability for better financial protection. For example, you might do this without purchasing bodily injury coverage by filing a self-insurance certificate if your net worth is high enough to qualify. However, insurance is generally the easiest way to satisfy this financial responsibility law.

Drivers could face harsh penalties if they cause injuries in an at-fault accident without maintaining insurance that meets Florida’s minimum requirements. In these situations, the state may require you to file an SR-22 form, issue a fine and suspend your driver's license until you can prove financial responsibility by purchasing car insurance that includes bodily injury coverage.

If you choose to purchase bodily injury coverage or need it to maintain your SR-22, the minimum requirements are:

• $10,000 bodily injury liability per person
• $20,000 bodily injury liability per accident

Aside from Virginia, Florida is the only state that can mandate drivers convicted of severe infractions, such as DUIs, to acquire an FR-44 form. Like the SR-22, this form is needed to reinstate a driver's suspended license but requires even higher liability limits. The provisions for an FR-44 are:

• $100,000 in bodily injury liability per person
• $300,000 in bodily injury liability per accident
• $50,000 in property damage liability per accident

Additionally, minimum coverage does not include comprehensive or collision coverage, which pays for damage to your vehicle. Policies with these coverage options are often referred to as full coverage policies. If you finance or lease your vehicle, your financial institution will likely require you to carry full coverage.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

In general, Florida's cheapest car insurance rates will go to those who have a clean driving record. Insurers tend to reward good drivers with low rates because they consider them less likely to file claims, making them a lower risk for coverage. If you have an infraction or two on your license, your insurer will assume that you may engage in risky behavior when driving, and thus will charge more for coverage.

• Cheapest car insurance for drivers with a ticket: Geico and State Farm
• Cheapest car insurance for drivers with an at-fault accident: Geico and State Farm
• Cheapest car insurance for high-risk drivers: Allstate

Cheapest insurance companies for drivers in Florida with a speeding ticket: Geico and State Farm

Drivers in Florida who have received a speeding ticket conviction could expect to pay more for insurance rates. This is because insurers may see speeding as an indication of unsafe driving habits. Fortunately, a Florida speeding ticket typically only increases your insurance premiums for three to five years, depending on the carrier. If you maintain a clean driving record after your ticket, your rates may eventually decrease. Florida cheap car insurance for those with a speeding ticket on their record can be found at companies including Geico and State Farm, which has the lowest average rate for minimum coverage, and Allstate, with the lowest average rate for full coverage.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Cheapest car insurance for drivers in Florida with an at-fault accident: Geico

If you have been found to be at fault in an accident, you may face civil penalties, but you are also likely to see an insurance premium increase. When looking for cheap Florida car insurance following an accident, you may want to consider one of the following companies. The rates in the table below are for a driver with one at-fault accident on their record.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Cheapest car insurance in Florida for high-risk drivers: Allstate

Being deemed a high-risk driver may make it more difficult to find cheap insurance in Florida. High-risk drivers include those with multiple speeding tickets, at-fault accidents or a DUI on their record. It’s likely not impossible to find cheaper rates following a high-risk incident, but it may require diligence to find adequate coverage and an affordable premium. The table below demonstrates the average premiums offered by some of the major carriers in Florida for those with a DUI. However, please note that not all companies will offer a policy to all drivers with a DUI on their record, so please contact the company directly for more information. Once again, Allstate came in with the lowest average rates.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Bankrate’s take:If you are a high-risk driver in Florida, you may be required to carry SR-22 insurance. This is actually not a type of insurance, but is instead a certificate that testifies that you have the minimum required car insurance to drive legally in the state. You are likely to need this certificate for a few years, after which it can be dropped. An SR-22 indicates to your insurance company that you are at a higher risk of infractions, and it may impact your premium rate. Florida also has the FR-44, which is required for major infractions such as a DUI.

Florida insurers are allowed to consider the age of the driver when determining premium rates, and generally, they assign higher costs to young drivers. This is because they have less experience behind the wheel and are at a higher risk for accidents and risky driving. It is possible, however, to find reasonably priced car insurance for young adults. Consider the following companies, which have lower average rates for teens in a variety of circ*mstances.

• Cheapest car insurance for insuring a teen driver: Allstate
• Cheapest car insurance for teens with a ticket: Geico
• Cheapest car insurance for teens with an at-fault accident: Geico
• Cheapest car insurance for young drivers with a DUI: Progressive

Cheapest Florida car insurance for insuring a teen driver: Allstate

Adding a teen driver to your policy could have a sizable impact on the amount you pay for car insurance rates in Florida. Teen drivers have the highest crash rate of any age group on the road. Car insurance providers tend to charge higher premiums for teen drivers due to this higher risk and their lack of experience behind the wheel. Their rates may be even higher if they have incidents on their record such as an at-fault accident or DUI. Below you can see which carriers offer some of the cheapest average rates for a teen added to their parent’s policy. More affordable rates may be found by using student discounts and other discounts for young drivers.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Bankrate’s take:Age and driving experience are two of the many factors used to rate car insurance policies in Florida. Statistics show that young drivers have more accidents and engage in distracted driving than any other age group. Insurers compensate for this by charging teen drivers more for their coverage, since they are more likely to file costly claims after an accident or other vehicle mishap. The good news? As drivers enter their 20s, their rates will begin to decline, especially if they show that they are safe and careful drivers.

Cheapest Florida car insurance for teens with a ticket: Geico

A teen who has earned a moving violation while behind the wheel is likely to pay more for their policy in Florida. Whether they are still on their parents' policy or have a policy in their own name, they may pay rates that are above average for several years, until the infraction drops off their license.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Cheapest Florida car insurance for teens with an at-fault accident: Geico

If a teen driver is found to be fully or partly at fault in an accident, they will almost certainly see an increase in their premium rate when they renew their policy. Average rates from a range of carriers show premiums for minimum and full coverage to be well above the state averages, with Geico's average rates being the lowest among Florida's major insurers.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Bankrate’s take:Florida is one of a handful of states in the U.S. that are considered no-fault. In no-fault states, drivers purchase personal injury protection (PIP) coverage, which pays out after an accident for injuries, lost wages and other related costs to you or your passengers, regardless of who is at fault in the accident and up to your policy's limits. This helps to expedite claims and reduce lawsuits, but it may not fully cover all costs related to an accident, including property damage liability.

Cheapest Florida car insurance for young drivers with a DUI: Progressive

Getting a DUI in Florida can come with some serious consequences. While one offense may lead to fines, multiple offenses could lead to jail time. In addition, drivers convicted of a DUI may see increases in their car insurance costs for a minimum of three to five years. For young drivers with a DUI in Florida, Geico offers some of the cheapest rates.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Car insurance companies use an array of rating factors to determine how much to charge you for auto insurance. Some of these factors could include your age, gender, credit history, the type of vehicle you drive and, in Florida, your ZIP code. In general, more populated areas have higher rates of accidents and vehicle theft and, therefore, higher average premiums. Coastal areas with high exposure to hurricanes may also see higher rates in Florida.

Bankrate’s insurance editorial team closely examined average premiums across the Sunshine State.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Many car insurance companies offer discounts to help their policyholders take advantage of Florida car insurance savings. Some of the opportunities that may be worth exploring include:

• Telematics discount: Many carriers offer a telematics discount, which could net you hefty savings on your car insurance premium. Generally, to enroll in a usage-based telematics program, you must install a small device in your vehicle or download a mobile app. The device (or app) then records your driving habits and reports that data to your insurance company, which may grant you a discount based on your driving habits and mileage. It's important to note some companies could raise your rates if they track bad driving habits via telematics.
• Defensive driver discount: Some car insurance companies in Florida will give you a discount for completing an online defensive driving course, but each company sets its own eligibility guidelines. For example, some carriers require that you are at least 50 years old to qualify. You may want to speak with your agent for specifics to see if you qualify.
• Bundling discount: You might earn a discount for bundling your Florida car insurance and your Florida homeowners insurance with the same company. If you aren’t a homeowner, some companies offer bundling discounts for other types of coverage, such as renters or motorcycle policies. However, it’s important to note that this discount is less readily available in Florida than most other states because the majority of residential insurers in the state do not write auto coverage.
• Military discounts: If you are affiliated with the military, you may qualify for additional savings with some companies.

In addition to these popular discounts, some common savings opportunities could include a pay-in-full discount, paperless discount, a student away at school discount and good student discount. It may be a good idea to ask your agent for a full policy review to ensure that you take advantage of all the discounts you may be eligible for.

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These are sample rates and should only be used for comparative purposes.