Car insurance in Lakeland, Florida, costs an average of $1,681 per year, which is 23.9% less than the state average of $2,208. GEICO offers the cheapest and most widely-available insurance at an average of $1,142 per year. MoneyGeek analyzed the cheapest insurers by coverage amount to help you find the best policy. We also evaluated companies that offer the best car insurance in Lakeland.
Compare the Cheapest Car Insurance Quotes in Lakeland
The Cheapest and Best Car Insurance in Lakeland
The Cheapest Car Insurance Companies in Lakeland
On average, the companies offering the most affordable full coverage car insurance in Lakeland are the following:
- USAA: $843 per year (only available for current and former military members and their families)
- GEICO: $1,142 per year
USAA policies cost roughly 164.9% less than Progressive, the most expensive insurer in the city, while GEICO policyholders pay about 95.5% less. Progressive’s policies with similar coverages cost an average of $2,233 per year, which is why it’s important to compare quotes from various providers before making a decision. Also, keep in mind that the best car insurance policy might not always be the most expensive option.
Rates were collected based on a 40-year-old male driver’s profile who is looking for a full coverage policy, including liability insurance and comprehensive and collision insurance.
Scroll for more
Average Cost of Car Insurance in Lakeland
Individuals who intend to buy a car should note that auto insurance is a legal requirement in most areas. That said, it doesn’t have to be costly. Understanding the average car insurance rates in Lakeland can help drivers get the best option for their needs.
In Lakeland, drivers pay an average of $1,681 per year for car insurance. This is 23.9% lower than the average cost of car insurance in Florida, which is $2,208. However, compared to the national average, Lakeland residents pay 18.0% more.
The Best Car Insurance Companies in Lakeland
While cost is important, the quality of service is as well. For drivers who want a balance of both, MoneyGeek ranked the best car insurance companies in Lakeland:
- Esurance: MoneyGeek score of 95 out of 100
- GEICO: MoneyGeek score of 85 out of 100
In Lakeland, the actual top scorer is USAA, earning a MoneyGeek score of 100 out of 100. However, their services are only available to current and former military members as well as their families.
MoneyGeek’s unique scoring system examined each company based on three criteria, including J.D. Power user satisfaction, affordability and financial stability.
Personalized Quotes to Get You the Cheapest Car Insurance in Lakeland
To find cheap car insurance, Lakeland drivers need to get and compare car insurance quotes regularly, as some individuals may get discounts, rebates or savings due to their circumstances. Rates can also change based on personal information such as age, gender and credit score, along with driving-related information such as driving history, experience and records.
Shopping around for car insurance in Lakeland could save you $539, which is enough to buy:
Cheapest Car Insurance in Lakeland by Coverage Amount
Coverage limits are a significant factor that can affect annual premiums. Liability-only policies that meet Florida state minimums cost $846 per year on average. However, this only protects others from any damages. On the other hand, a full coverage policy costs $1,681 per year on average, providing additional protection for $836 more.
Florida Minimum Liability Requirements
- Property Damage$10,000 for property damage. A more protective level is 100/300/100.
- Personal Injury Protection$10,000 per person.
While it’s important to have affordable car insurance, it’s equally important to get the right coverage limits. GEICO offers state minimum liability-only policies at $509 per year on average, but these only cover third-party damages and will not protect the driver’s assets. You could also opt for a 50/100/50 liability-only policy for roughly $241 more per year.
On the other hand, their full coverage policies cost roughly $1,010 per year and include 50/100/50 limits and comprehensive and collision coverage. This means that there is $100,000 in coverage per accident with a $50,000 limit per person and $50,000 in property damage. If you want to increase your coverage to 100/300/100, the cost is roughly $132 more annually.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in Lakeland if You Have Driving Violations
A driver’s record is a significant factor that can affect annual premiums. For example, drivers in Lakeland insured by State Farm who have one to two violations, such as speeding tickets, might pay $93 more than those with a clean record, while a driver who has had accidents and is at fault may pay $186 more.
Car insurance rates also increase for those who have a DUI. A driver with a clean record may pay an average of $1,236 per year for car insurance, but drivers with a DUI could pay an average of $93 more.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
The neighborhood where a driver lives is also a factor that car insurance companies in Lakeland consider when determining the annual premiums for auto insurance. The number of accidents, car-theft incidents and other factors varies by location. In Lakeland, a driver’s ZIP code can lead to a small difference of $17.
It costs an average of $1,673 per year for drivers living in ZIP code 33801, while drivers in ZIP code 33180 pay an average of $1,690 annually.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Lakeland
In addition to individual driver needs and history, location-specific factors like personal injury protection coverage requirements and the percentage of uninsured motorists also contribute to car insurance rates in Lakeland. How Lakeland ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Lakeland are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author
- Kaiser Family Foundation. "2019 Employer Health Benefits Survey." Accessed January 16, 2020.