How Much Is Car Insurance in Florida? (2023)

Your age, city, coverage, credit score and driving record are just a few variables that may affect how much your car insurance will cost. The most expensive and cheapest full coverage rates in Florida, respectively, are $2,289 from Direct General Insurance and $1,058 from State Farm. There is a $405 price difference between Florida drivers in their 20s ($2,006 annually) and drivers in their 60s ($1,601 annually).

The average annual cost of auto insurance in Florida is $1,628; however, your rates may vary according to different aspects of your driving profile. The average rates for drivers with various records are as follows:

• Clean record: $1,628 per year
• Speeding ticket: $2,083 per year
• DUI: $2,353 per year
• At-fault accident: $2,572 per year

The prices listed above are for full coverage insurance. Minimum coverage insurance rates are typically more affordable.

The average annual cost of auto insurance in Florida is $1,628, much higher than the $1,054 national average. These more expensive rates may be due to heavier traffic, dense urban populations and higher car theft levels. Rates in Florida may also be higher due to its personal injury protection requirements.

It’s also likely that specific factors like your driving record or age are some reasons why auto insurance premiums in Florida are expensive.

The average cost of auto insurance may be misleading because of the price variation between companies. GEICO offers the cheapest car insurance in Florida at $485 annually for a minimum coverage policy ($1,217 for full coverage). State Farm provides the lowest average full coverage policy rates at $1,058 annually. Direct General Insurance is the most expensive, with minimum coverage costing an average of $1,250 annually ($2,289 for full coverage).

Liability-only insurance is cheap, but shopping around could enable you to identify the cheapest full coverage insurance.

The cost of insurance will generally rise with increasing liability limits. Drivers in Florida typically pay $1,909 for full coverage with maximum liability limits, as opposed to $804 for the legally mandated minimum level of coverage. However, you can lower your monthly rates by increasing your deductible on a full coverage car insurance policy, leading to potential long-term savings.

Florida's cheapest minimum coverage policies cover the lowest liability limits. However, these policies may be more expensive than average due to the state’s personal injury protection requirement.

Insurers provide policies with higher liability limits, such as 100/300/100 or 50/100/50. Liability limits of 100/300/100 cover the following:

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

Generally, a company's maximum liability policy is 300/500/300. While liability insurance covers harm or injury toward others, comprehensive and collision insurance covers the costs of damages to you and your vehicle. These coverage selections constitute a full coverage policy.

Your age could significantly impact the cost of your auto insurance, especially if you are a new driver. Below are Florida’s average full coverage rates by age:

• 22–29: $2,006 per year
• 30–59: $1,628 per year
• 60+: $1,601 per year

Rates for drivers between the ages of 30 and 59 are generally stable until they reach the age of 60, whereas premiums are frequently expensive for drivers in their 20s or those who have just started driving.

Insurance costs are higher for teens compared to other age groups. A family plan in Florida costs an average of $5,673 annually for a 16-year-old male driver, whereas an individual policy for the same teen costs $10,916 annually.

As teen drivers age, rates tend to drop. A family plan typically costs $4,638 annually for a 19-year-old compared to $3,843 for a 22-year-old. You can find Florida’s cheapest teen car insurance by comparing rates from several providers.

In Florida, rates between genders tend to vary considerably. A family policy costs a 16-year-old female driver an average of $5,234 per year, approximately $439 cheaper than for males.

In Florida, the average yearly insurance cost for a new car is $1,670, 8% more expensive than the average annual rate for an older vehicle ($1,538). Insurance costs may rise due to a new car's increased actual cash value (ACV) and higher repair costs.

Insurers calculate collision and comprehensive claims using your car's ACV. Your older car will cost less to insure because less expensive claims will result in lower payouts from insurance providers. If you drive a newer vehicle, MoneyGeek recommends full coverage insurance since it includes liability for other people's injuries and damages to your car.

Auto insurance costs more for drivers with offenses on their record than people who have spotless driving histories. Drivers in Florida who hold the following records are responsible for these average annual insurance costs:

• Clean record: $1,628 per year
• Speeding ticket: $2,083 per year
• DUI: $2,353 per year
• At-fault accident: $2,572 per year

Rates frequently rise in direct relation to the severity of the infraction. For example, the typical rate increase for a DUI will be more than for a speeding ticket. By evaluating prices from several providers, you can find Florida’s most affordable car insurance for drivers with a record.

Your credit score significantly influences the price of your car insurance. Florida drivers with poor credit typically pay $2,804 annually, while those with excellent credit pay $1,352. Based on your credit rating, you can anticipate paying the following average rates:

• Excellent: $1,352 per year
• Good: $1,632 per year
• Fair: $1,993 per year
• Below fair: $2,304 per year
• Poor: $2,804 per year

Companies may assess rates differently depending on the drivers' credit. Florida drivers with poor credit should shop around and compare quotes to find the most affordable auto insurance.

Your car insurance premiums may differ significantly depending on where you live. For instance, drivers in Gainesville pay the cheapest rates for full coverage insurance at an annual average of $1,367. Those in Hialeah spend a yearly average of $2,579, the most expensive rate in Florida.

Car insurance rates are often higher in areas like Hialeah and Miami due to denser populations and heavier traffic. These factors result in the filing of more insurance claims.

With insurance rates in Florida depending on so many different factors, it may be challenging to find the best provider for you. We responded to your most frequently asked questions.