Car insurance in Tampa costs an average of $2,546 per year, which is about 15.3% higher than the state average in Florida. For the average driver, the cheapest widely available insurer is GEICO. MoneyGeek analyzed the cheapest options for different driver profiles and coverage levels. If you want a balance of low costs and high-quality service, MoneyGeek ranked the best auto insurance companies in Tampa.
Compare the Cheapest Car Insurance Quotes in Tampa, FL
The Cheapest and Best Car Insurance in Tampa
The Cheapest Car Insurance Companies in Tampa
The insurance providers with the most affordable average rates for a full coverage car insurance policy in Tampa are:
- USAA: $987 per year (available only to current and former military members)
- GEICO: $1,649
For this study, MoneyGeek collected average insurance rates in Tampa for a sample 40-year-old male driver with a full coverage policy, which includes both liability insurance and comprehensive and collision insurance.
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Average Cost of Car Insurance in Tampa
Annual car insurance costs are quite expensive in Tampa. The average yearly rate is $2,546, which is about 15.3% more than the Florida average and around 78.8% higher than the U.S. average.
The Best Car Insurance Companies in Tampa
For drivers in Tampa looking to strike a balance between quality service and affordability, MoneyGeek ranked the best options. Based on MoneyGeek’s research, the best car insurance companies in Tampa for most drivers are:
- Esurance: MoneyGeek score 95 out of 100
- GEICO: MoneyGeek score 85 out of 100
USAA received the highest score in Tampa by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
To calculate the final score out of 100, MoneyGeek considered several factors, including J.D. Power’s user satisfaction, financial stability and affordability.
Personalized Quotes to Get You the Cheapest Car Insurance in Tampa
Car insurance providers consider a wide array of elements to decide car insurance quotes and to analyze the risk factors associated with each driver. These aspects include your gender and age, car make and model, insurance coverage level and more.
In Tampa, GEICO’s coverage for an 18-year-old driver is more than twice as expensive as its policy for a 40-year-old driver. Therefore, it’s an intelligent move to get tailored quotes regularly to find affordable coverage that takes into consideration your changing circumstances.
Shopping around for car insurance in Tampa could save you $897, which is enough to buy:
Cheapest Car Insurance in Tampa by Coverage Amount
In Tampa and other cities, one factor that plays an important role in determining the cost of car insurance is the coverage level you choose. For example, a state minimum policy in Tampa costs an average of $1,288 per year, while a full coverage policy with higher liability limits costs $2,546 on average. That is a difference of $1,258.
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.
GEICO offers both 50/100/50 liability-only and full-coverage policies in Tampa. To explain the 50/100/50 limit, the policy will cover $50,000 in medical bills per person, totaling $100,000 per vehicle, as well as $50,000 worth of property damage repair. GEICO’s full-coverage package is an average of $399 more than its liability-only policy, but the extra cost is worth it considering that full coverage means your own costs are covered as well.
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 Tampa if You Have Driving Violations
Being a safe driver also benefits your insurance premium. Moving violations on your driving record will hike up the cost of your auto insurance. Consider GEICO’s example in Tampa. Their policyholders with a speeding ticket on their record will need to pay an average of $1,225 more per year for their coverage compared to drivers with a clean record, while drivers with a DUI will pay an average of $1,946 more.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
Localities that experience higher rates of accidents, car thefts and uninsured drivers are more expensive in terms of auto insurance premiums. In Tampa, residents of the 33647 ZIP code will pay an average of $508 less in yearly insurance premiums compared to people who live in ZIP code 33614.
- Zip CodeState Minimumper year
Top Agents Offering Affordable Car Insurance in Tampa
Factors That Impact Insurance Costs in Tampa
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 Tampa. How Tampa 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 Tampa 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.
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