Travelers offers the cheapest minimum and full coverage car insurance in Florida. State Farm is the most affordable for many other drivers. But depending on your risk factors, Nationwide might have better rates.
If you’re looking for a blend of affordability and quality service, consider MoneyGeek’s breakdown of the best car insurance companies in Florida.
Table of Contents
Cheapest Minimum Liability Car Insurance in Florida (November 2023)
The most affordable car insurance providers in Florida for a minimum coverage policy are:
- Travelers: $642 per year
- GEICO: $645 per year
Direct General Insurance is the most expensive car insurance company in Florida for minimum coverage, with an average annual premium of $1,434.
Auto insurance that meets Florida’s minimum insurance requirements only covers property damage liability (PDL) and personal injury protection (PIP).
A minimum coverage policy only covers the cost of damages or injuries you cause to others. If you want broader financial protection, consider a full coverage policy with comprehensive and collision insurance. Full coverage extends to damages to your own vehicle.
Compare Auto Insurance Rates
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Cheapest Full Coverage Car Insurance in Florida (November 2023)
On average, the cheapest full coverage car insurance in Florida is offered by:
- Travelers: $1,360 per year
- State Farm: $1,380 per year
Farmers charges the most for full coverage in Florida, at roughly $2,785 per year.
Adding comprehensive and collision coverage to your auto insurance can increase your annual premium by around $718.
Full coverage car insurance offers more financial protection if you need to file a claim. It covers damages due to on-road accidents (hitting another vehicle or object) and off-road incidents (like theft, fire, vandalism or flooding).
How much car insurance you need will significantly impact your rates. MoneyGeek's sample full coverage policy features liability protection with the following limits:
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage per accident
Lowering your liability limits, removing comprehensive and collision coverage or raising your deductible could help you reduce your insurance payments. However, you risk paying more out of pocket in case of an accident or other event and could be financially devastated by an at-fault accident that includes property damage and injuries.
How to Compare Cheap Florida Car Insurance Quotes Online
Many auto insurance companies generate quotes online, but the process can take up to 15 minutes and requires that you submit personal information. To compare rates, you’ll have to submit your information to multiple insurer websites, which requires additional time. Another option is to obtain quotes through local insurance agents.
Instead, MoneyGeek offers a car insurance calculator to help you get a quick estimate without providing personal information to multiple insurers. Get started by selecting your age, sex and driving record below.
Auto Insurance Calculator
See how the Average Annual Auto Insurance Rates vary with the options chosen.
Cheapest Car Insurance in Florida by Age (November 2023)
Your age is a key factor that determines how much you pay for car insurance in Florida. Travelers, Nationwide and State Farm have the lowest prices on average for various age groups in your family.
Cheapest Car Insurance in Florida for Teens and Their Families (November 2023)
The following companies tend to offer the cheapest car insurance for teens on a parent’s policy in Florida:
- Nationwide: $3,267 per year for male teens and $2,896 per year for female teens
- State Farm: $3,955 per year for male teens and $3,214 per year for female teens
As the teen policyholder's age increases, car insurance premiums decrease significantly. In Florida, the cheapest car insurance provider for 19-year-old males is Nationwide ($2,795 per year).
On the other hand, Farmers charges the most for male teens, with an average cost of $5,063 and Progressive charges the most for females with an average cost of $5.035. These rates are for a 16-year-old on their parent’s policy.
On average, it's much cheaper to add a teen to your policy than to buy a separate one for them. And usually, teens under age 18 cannot legally purchase their own auto insurance policy — the law requires a parent or guardian to co-sign on the policy. A 16-year-old Floridian might pay $9,389 per year if they buy their own policy versus $4,449 if their parents add them to an existing policy — that’s a $4,940 difference.
On average, car insurance rates for male teens tend to be significantly more expensive than for female teens. That is because teen boys pose a greater risk because they have a higher rate of accident frequency and moving violations than teen girls. The rate difference is not as notable when drivers reach their 20s and beyond. — Mark Friedlander, Director, Corporate Communications, Insurance Information Institute
Most of these insurers offer discounts for both students away from home and students with good grades. GEICO and Nationwide only offer discounts for strong academic performance.
Cheapest Car Insurance in Florida for Young Adults (November 2023)
The cheapest car insurance companies for Florida drivers in their 20s are:
- Travelers: $1,555 per year
- State Farm: $1,636 per year
Farmers is the least affordable car insurance provider for young adults at $3,406 per year on average. Twenty-five-year-old drivers in Florida pay roughly $195 more for car insurance each year than middle-aged drivers.
Cheapest Car Insurance in Florida for Seniors (November 2023)
The cheapest car insurance companies in Florida for senior drivers are:
- State Farm: $1,267 per year
- Travelers: $1,297 per year
Farmers has the most expensive car insurance rates for seniors, at approximately $2,961 per year.
Floridians in their 60s pay slightly less on average for auto insurance than drivers in their 40s and 50s, about $93 per year. However, rates tend to increase as drivers reach their 70s and 80s due to a higher volume of accident frequency and severity.
Allstate, GEICO and Farmers all offer discounts for Florida seniors. Since age is just one of many factors providers use to calculate rates, comparing companies is the best way to find cheap, competitive coverage.
Cheapest Car Insurance for Higher Risk Drivers (November 2023)
In Florida, Nationwide charges the least for people with poor credit. State Farm is cheapest for those with at-fault accidents, tickets and DUIs on their record. Drivers of sports cars will find Travelers most affordable.
Car insurance companies often charge higher premiums for drivers with traffic violations on their records. Taking state-approved driving courses and regularly examining your record for errors can help improve your profile over time and open access to cheaper insurance options.
Cheapest after a ticket: State Farm ($1,555 per year)
Cheapest after an accident: State Farm ($1,687 per year)
Cheapest after a DUI: State Farm ($1,555 per year)
Cheapest for poor credit: Nationwide ($2,038 per year)
Cheapest for sports cars: Travelers ($1,208 per year)
Cheapest Car Insurance in Florida After a Ticket
The following car insurance companies provide the cheapest full coverage policies in Florida for drivers with a speeding ticket:
- State Farm: $1,555 per year
- Nationwide: $1,761 per year
Farmers is the most expensive provider at $3,497 per year. On average, you might pay about $558 more on car insurance in Florida after getting a speeding ticket.
Cheapest Car Insurance in Florida After an Accident
For Florida drivers with an at-fault accident on their driving records, the most affordable full coverage car insurance companies are:
- State Farm: $1,687 per year
- Travelers: $1,977 per year
Farmers charges the most for drivers with at-fault accidents — approximately $4,234 per year. Our average rate calculations show that being at fault in a car accident could increase your annual premium by $1,111 in Florida.
Cheapest Car Insurance in Florida After a DUI
If you have a DUI on your record, the cheapest options for full coverage car insurance in Florida are:
- State Farm: $1,555 per year
- Progressive: $2,242 per year
At roughly $3,451 per year, Mercury is the most expensive auto insurance provider for drivers with a DUI. On average, a DUI raises your annual premium by $840 in Florida.
Cheapest Car Insurance in Florida for Drivers With Poor Credit (November 2023)
The most affordable car insurance companies in Florida for drivers with poor credit are:
- Nationwide: $2,038 per year
- Direct General: $2,641 per year
If you have a low credit score, Allstate charges more than any other insurer for car insurance at $3,833 per year.
Credit score is an important factor when insurers calculate your rate since they use a credit-based insurance score to predict insurance losses. If your credit score is below 580, you might pay approximately $1,110 more for car insurance in Florida compared to someone with a credit score above 750.
Auto insurers found that drivers with poor credit scores are more likely to file claims, so some charge higher insurance premiums in these cases. Like many other states, Florida allows companies to consider your credit-based insurance score when determining rates.
Improving your credit score and money management over time can help you lower your insurance rate, but you can also seek insurers that offer safe-driver or other discounts to help offset rate increases based on your credit score.
Cheapest Car Insurance in Florida for Sports Cars (November 2023)
The least expensive car insurance companies in Florida for drivers with sports cars are:
- Travelers: $1,208 per year
- State Farm: $1,531 per year
With an average annual premium of $2,854, Farmers is the most expensive company to insure a sports car.
Since sports cars have higher repair and replacement costs, auto insurance is usually more expensive than a policy for a standard vehicle. But this is not the case in Florida. Compared to a Toyota Camry LE drivers, for example, sports car drivers pay about $61 less on car insurance premiums.
MoneyGeek used a Ford Mustang for the quotes listed above, but car insurance rates can vary widely depending on the car model. Luxury cars, electric cars and sports cars are typically more expensive to insure than other model types.
Cheapest Car Insurance in Florida for Military Drivers (November 2023)
For active military members and veterans, the most affordable car insurance provider in Florida is Travelers, with an average rate of $1,360 per year.
USAA also provides inexpensive car insurance policies for military families. This company is available in all states to customers who are members of the military community. GEICO is another option for military-affiliated drivers; it offers a discount for them and military-focused coverage.
- $1,360 per year
- Ranks first out of nine insurers for affordability
Although Travelers does not have military-specific discounts, it offers other opportunities to reduce the cost of car insurance. These include bundling, insuring multiple vehicles or completing a driver's training course. Policyholders can also earn discounts for being good students or going accident-free for at least three years.
Cheapest Car Insurance in Florida by City
The cost of car insurance in Florida depends on multiple factors, including the city where you live. Drivers who live in neighborhoods with higher rates of theft, vandalism or accidents are more likely to file insurance claims and tend to pay higher premiums.
We found that Cape Coral has the most affordable car insurance in Florida, offered by Travelers at approximately $1,360 per year. Travelers is also the cheapest option in West Palm Beach, where a full coverage policy costs about $2,239.
Car insurance is most expensive in Tampa, where an annual full coverage policy from Travelers costs an average of $2,536. The same policy in Palm Bay costs only $1,534.
Use our list of Florida cities below to compare the average auto insurance costs by location.
Car Insurance in Florida: What You Need to Know
Florida requires drivers to purchase property damage liability and personal injury protection, but it doesn't require bodily injury liability insurance. Drivers also have the option to self-insure in Florida.
Florida Car Insurance Requirements
Florida law only requires drivers to carry a car insurance policy that meets the state minimum requirements for property damage liability insurance and personal injury protection. Although a minimum coverage policy will help you save money, it offers less financial protection in case of an incident.
Florida requires SR-22 insurance for most serious driving offenses — such as reckless driving, driving without insurance coverage or driving with a suspended license — and FR-44 insurance for a DUI. For the latter, you’ll be required to increase coverage limits to $50,000 in property damage and $100,000 in bodily injury per person and $300,000 in bodily injury per accident.
SR-22 and FR-44 are not insurance; both are certificates of financial responsibility that prove you meet the state's established requirements for high-risk drivers. For SR-22, you need to meet the state's minimum liability requirements. For FR-44, you need to meet higher limits. Your insurer submits the form to the Florida Department of Highway Safety and Motor Vehicles. — Mark Friedlander, Director, Corporate Communications, Insurance Information Institute
Property Damage Liability
Florida requires drivers to carry $10,000 coverage in property damage liability per accident. If you're at fault in an accident that damages someone else's property, you'll have to pay for any damages above $10,000.
Personal Injury Protection
In Florida, all policies must have at least $10,000 in personal injury protection, also called “no-fault insurance.” Regardless of who is at fault for the accident, your insurer will cover up to $10,000 in medical costs for you and your passengers. In case of major injuries, this limit might not cover you fully, and you may have to rely on health insurance or pay out of pocket.
For additional protection, MoneyGeek recommends buying liability insurance of at least $100,000 per injury and $300,000 per accident, and increasing property damage coverage to $100,000. You may also need comprehensive and collision insurance if you either financed your car purchase or leased your vehicle.
Comprehensive insurance covers repairing or replacing your vehicle if it gets damaged by off-road incidents. Scenarios include theft, fire, vandalism, animal damage and weather-related events, including floods. Collision insurance pays to repair or replace your car if it’s damaged by another vehicle or an object like a telephone pole or tree.
Even if you didn't take out a loan or lease your car, comprehensive and collision insurance can be worth it if you have a valuable vehicle.
Car Insurance Alternatives in Florida
You can also meet Florida’s minimum car insurance requirements with a certificate of self-insurance. This means you are liable to pay out of pocket for any expenses related to a vehicular accident, including damages and medical treatments.
To qualify for self-insurance in Florida, you must submit the following documents to the appropriate department of Florida Highway Safety and Motor Vehicles (FLHSMV):
- A notarized financial statement confirming that your net worth is at least $40,000.
- Your driver’s license and Social Security number.
- A list of all the Florida-registered vehicles you own, including the make, model, year, vehicle identification and tag number.
This certificate is valid for one year, and renewing it involves submitting an updated notarized financial statement and a current list of all vehicles you own.
FAQ About Car Insurance in Florida
It’s common to have concerns about cost and quality when it comes to car insurance. Our answers to frequently asked questions can help you learn more about car insurance in Florida.
Expert Advice on Finding Cheap Car Insurance in Florida
To help you find credible and accurate insight on car insurance in Florida, MoneyGeek received expert advice from trusted professionals. The perspectives and opinions expressed are those of the individual contributor.
- What are the key factors drivers in Florida should look for when searching for the best auto insurance coverage?
- What steps can drivers in Florida take to find affordable car insurance?
- How do regulations and rules in Florida impact insurance pricing and how consumers might shop for coverage?
- What resources does the Florida Department of Insurance have for consumers?
President, CIC, Park & Associates, Inc
Product Lines Producer at Cobia Insurance
Managing Partner at Sawan and Sawan
Agency Owner/Accredited Advisor in Insurance
Kaye Insurance Research Fellow in Insurance and Professor at Florida Atlantic University
Assistant Professor of Economics at the University of Central Florida
Senior Lecturer, Warrington College of Business at the University of Florida
Associate Professor of Accounting at St. Thomas University
Professor at the School of Applied Business at Daytona State College
Marketing Instructor at Florida Gulf Coast University
Associate Professor of Marketing at Lynn University
Assistant Professor of Sales & Marketing at Stetson University
Assistant Professor of Business and Management at Palm Beach Atlantic University
Associate Professor of Accounting at Stetson University
Professor of Finance at Johnson University
Associate Professor of Finance and Economics at Florida Southern College
Associate Professor - Department of Finance at Florida International University
Courtesy Assistant Professor at the University of South Florida DBA Program, Retired USF Personal Financial Planning Program Director
Assistant Professor of Economics at the University of Miami Herbert Business School
Associate Professor Department of Marketing & Logistics at Florida International University
About Mark Fitzpatrick
- Florida Highway Safety and Motor Vehicles. "Self Insurance: Natural Person." Accessed November 21, 2022.