Compare the Cheapest Car Insurance Quotes in Palm Bay

Compared to the state average of $2,208, Palm Bay has a lower car insurance premium of $1,670 per year. The cheapest widely available policy is from GEICO, which costs an average of $1,141 annually. Compare quotes from multiple providers using MoneyGeek's data on various driving histories and coverage levels. We have also rated the best car insurance companies in Palm Bay by balancing affordability and quality.

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Last Updated: 11/21/2022
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Your driving history and coverage level will determine if GEICO or another Palm Bay insurance company is the cheapest for you. According to MoneyGeek, the most affordable widely available providers for state minimum insurance and those with a traffic ticket are:

  • Cheapest For State Minimum Policy: GEICO at $495 per year
  • Cheapest For Ticketed Drivers: State Farm at $1,587 per year

Military families can qualify for coverage from USAA, which may offer even steeper discounts. Furthermore, MoneyGeek rated Esurance as the city’s best auto insurance provider, based on affordability and customer service.

iconribbonbestauto insurancePalm Bay2022

The Cheapest and Best Car Insurance in Palm Bay

The Cheapest Car Insurance Companies in Palm Bay

The following companies offer the cheapest widely available car insurance in Palm Bay for drivers seeking full-coverage insurance plans:

  • GEICO: $1,141 per year
  • Travelers: $1,427 per year

For military families, USAA is the cheapest company. Due to this eligibility requirement, we did not include this company in our rankings.

On average, GEICO's policy only costs half as much as the average policy from Progressive — Palm Bay's most expensive car insurance company. A full-coverage policy, in addition to the liability coverage needed by state law, includes comprehensive and collision insurance. Your premiums, however, may vary depending on the amount of liability coverage you select.

Cheapest Car Insurance in Palm Bay
Full Coverage 100/300/100
  • Company
    100/300/100per year
  • 1.
    USAA
    $813
  • 2.
    GEICO
    $1,141
  • 3.
    Travelers
    $1,427
  • 4.
    MetLife
    $1,481
  • 5.
    State Farm
    $1,489
  • 6.
    Allied
    $1,648
  • 7.
    Allstate
    $1,775
  • 8.
    Mercury
    $2,011
  • 9.
    Progressive
    $2,385

MoneyGeek's methodology considered the average insurance premiums for a 40-year-old sample male driver purchasing a full-coverage insurance policy. A full-coverage insurance policy will cost more because, in addition to liability insurance, it will cover the following two coverages:

  • Comprehensive Coverage: Provides coverage for damages caused by non-accident-related disasters, such as storms, fire, theft and vandalism.
  • Collision Coverage: If your car collides with another vehicle or object, collision coverage will compensate for related losses and damages.

For drivers with older vehicles, liability insurance or the state's basic minimum coverage may be a better financial option, as comprehensive insurance may cost more than the worth of your car.

Compare Car Insurance Rates in Palm Bay

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

Cheapest Car Insurance in Palm Bay for Minimum Coverage

The cheapest car insurance in Palm Bay provides only the minimum necessary protection. The following companies offer the city's cheapest minimum liability insurance:

  • GEICO: $495 per year
  • Travelers: $687 per year

Low-coverage insurance policies are the most cost-effective option because they offer limited liability coverage. In the event of an accident, however, a full-coverage insurance policy with comprehensive and collision coverage can offer complete protection.

At an average of $1,377 a year, Progressive's quote costs $882 more than GEICO's. Only military personnel and their families qualify for USAA's state minimum policy at $450 per year, which is the city's cheapest.

Cheapest Minimum Liability Car Insurance in Palm Bay
State Minimum

Drivers in Florida are required by law to have at least $10,000 in personal injury protection (PIP) and $10,000 in property damage liability insurance. While policies with this coverage may be the cheapest insurance in Palm Bay, you may end up spending a lot out of pocket after an accident.

For instance, if you cause another driver $15,000 in property damage and your insurance policy just covers $10,000, you must pay the remaining $5,000. Having a full-coverage insurance policy can help you avoid this.

Florida Minimum Liability Requirements

  • Item
    Description
  • Property Damage
    $10,000 for property damage. A more protective level is 100/300/100.
  • Personal Injury Protection
    $10,000 per person.

Cheapest Car Insurance in Palm Bay if You Have Driving Violations

Car insurance quotes in Palm Bay may increase if you have a traffic ticket for speeding, hitting another car or driving under the influence (DUI). Based on the city's most common traffic violations, the following are the cheapest widely available insurance in the city:

  • Cheapest After A Ticket: State Farm, $1,587 per year
  • Cheapest After An At-Fault Accident: GEICO, $1,566 per year
  • Cheapest After A DUI: State Farm, $1,587 per year

USAA has the cheapest insurance rates for all of the above offenses. However, its policies are only sold to veteran and active military members and their families.

If you keep a clean driving record in the future, your insurance costs may decrease, even if you've had a traffic ticket in the past. During this time, you can look for the best cheap car insurance for people who have bad driving records by comparing prices from different providers.

Cheapest Car Insurance in Palm Bay With a Violation
Speeding Ticket

Average Cost of Car Insurance in Palm Bay

Palm Bay$1,670
Florida$2,208
U.S.$1,424

Palm Bay's average car insurance premium is $1,670 per year, which is lower than the state average but higher than the national average. Palm Bay drivers pay around 24.4% less than the state's average premium and 17.3% more than the national average.

Personalized Quotes to Get You the Cheapest Car Insurance in Palm Bay

Car insurance companies in Palm Bay compute insurance rates based on factors such as the driver's gender and age, vehicle make and model and ZIP code. For example, an 18-year-old usually pays higher insurance premiums than a 40-year-old driver. To get the best possible rates, you should regularly compare quotes from multiple providers.

Compare Car Insurance Rates in Palm Bay

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

The Best Car Insurance Companies in Palm Bay

MoneyGeek evaluated the average rates, claims ratings and customer satisfaction scores of different insurers and found the following ones offering the best car insurance in Palm Bay:

  • GEICO: MoneyGeek score of 84 out of 100
  • State Farm: MoneyGeek score of 72.4 out of 100

Since USAA only offers policies to military drivers, it was excluded from this analysis. However, the company received a MoneyGeek score of 100 out of 100, making it the best car insurance company in Palm Bay, Florida.


1
GEICO
Score:84

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

Geek Quick Take
Geek Quick Take

GEICO’s full coverage policy costs an average of $1,141 per year in Palm Bay. The company ranked highly in affordability, claims and satisfaction. It offers mechanical breakdown insurance.

More About GEICO

GEICO offers many common coverages to policyholders in Palm Bay, including accident forgiveness, rental car and/or travel reimbursement and roadside assistance. It also provides mechanical breakdown insurance, a unique coverage rarely offered by most insurers. GEICO’s mechanical breakdown insurance coverage is a lot cheaper than the standard dealer’s extended warranty and includes all the systems and parts, offering better coverage. It’s available for new or leased cars that are less than 15 months old with less than 15,000 miles.

Read MoneyGeek's GEICO auto Insurance Review
2
State Farm
Score:72

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A-

Financial Stability

Geek Quick Take
Geek Quick Take

State Farm charges an average of $1,489 per year for a policy in Palm Bay. The company scored highly in affordability, claims and satisfaction. It offers rideshare insurance.

More About State Farm

State Farm offers different coverages to policyholders in Palm Bay, including rental car and/or travel reimbursement and roadside assistance, which are common coverages. It also provides rideshare insurance, a unique coverage. With State Farm’s rideshare insurance coverage, drivers working for ridesharing companies like Uber or Lyft have protection while waiting for a ride. It extends their personal auto policy coverages like medical, emergency roadside assistance and rental car reimbursement and puts their policy deductible in effect. When the drivers start the ride, all coverages except liability insurance remain.

Read MoneyGeek's State Farm auto Insurance Review

Average Cost of Car Insurance by Postal Code

The location of your home affects the amount of money you pay for auto insurance in Florida’s Palm Bay. For instance, people who live in the 32909 ZIP code spend roughly $21 less on annual auto insurance premiums than drivers in the 32907 ZIP code.

  • Zip Code
    State Minimumper year
  • 32909
    $1,659
  • 32907
    $1,680

Factors That Impact Insurance Costs in Palm Bay

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 Palm Bay. How Palm Bay ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities51st/300
handcuffs2 icon
Most Car Thefts44th/300
uninsured icon
Most Uninsured Motorists by State1st/50
insurance2 icon
Personal Injury Protection RequiredYes
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Most Annual Rainfall36th/300
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Most Rainy Days63rd/300

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.