Cheapest Car Insurance in Florida (October 2024)

Travelers offers Florida's cheapest minimum and full coverage car insurance. Depending on your driver profile and risk factors, State Farm and Nationwide provide affordable rates for many other drivers.

MoneyGeek reviewed the best car insurance companies in Florida for drivers seeking a balance of affordability and quality service.

The most affordable car insurance providers in Florida for a minimum coverage policy are:

• Travelers: $657 per year
• GEICO: $687 per year

Direct General Insurance is the most expensive car insurance company in Florida for minimum coverage, with an average annual premium of $1,490. Auto insurance that meets Florida’s minimum insurance requirements covers only property damage liability and personal injury protection.

A minimum coverage policy covers only damage or injuries you cause to others. For broader financial protection, consider a full coverage policy with comprehensive and collision insurance, which also covers damage to your own vehicle.

These providers have the cheapest full coverage car insurance in Florida:

• Travelers: $1,355 per year
• State Farm: $1,381 per year

Direct General Insurance is the most expensive, charging about $2,958 per year for full coverage. Adding comprehensive and collision coverage increases your annual premium. For example, Travelers' full coverage is $697 more than its minimum coverage policy.

Full coverage car insurance offers more financial protection, covering damage from collisions, theft, vandalism and 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. You could be financially devastated by an at-fault accident, including property damage and injuries.

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.

Nationwide, Travelers and State Farm have the lowest prices for various age groups in Florida.

The companies offering the cheapest car insurance for teens on a parent’s policy in Florida are:

• Nationwide: $2,896 per year for female teens and $3,267 per year for male teens
• State Farm: $3,214 per year for female teens and $3,955 per year for male teens

Farmers charges the most for male teens, averaging $5,063, while Progressive is the most expensive for females at $5,035. These rates are for a 16-year-old on their parent’s policy.

Premiums decrease as teens age. For 19-year-old males in Florida, Nationwide offers the lowest rate, at $2,795 per year.

Adding a teen to your policy is much cheaper than buying a separate one. Teens under 18 usually can't buy their own policy without a parent or guardian. For example, a 16-year-old in Florida might pay $9,389 per year for their own policy versus $4,449 if added to a parent's policy, saving $4,940.

Many insurers offer discounts for students away from home and with good grades. GEICO and Nationwide offer only discounts for strong academic performance.

The cheapest car insurance companies for Florida drivers in their 20s are:

• Travelers: $1,548 per year
• State Farm: $1,637 per year

Direct General Insurance is the most expensive car insurance provider for young adults at $3,803 per year on average. Twenty-five-year-old drivers in Florida pay roughly $514 more for car insurance each year than middle-aged drivers.

The cheapest car insurance companies in Florida for senior drivers are:

• State Farm: $1,268 per year
• Travelers: $1,292 per year

Farmers has the most expensive car insurance rates for seniors, at $2,961 per year.

Floridians in their 60s pay about $36 less per year for auto insurance than drivers in their 40s and 50s. However, rates tend to increase as drivers reach their 70s and 80s due to a higher frequency and severity of accidents.

Allstate, GEICO and Farmers offer discounts to Florida seniors. Since age is just one of many factors providers use to calculate rates, comparing companies is the best way to find cheap and quality coverage.

In Florida, State Farm is the cheapest provider for those with a speeding ticket, an at-fault accident or a DUI on their record. Nationwide charges the least for people with poor credit. Travelers is the most affordable provider for sports car drivers.

These car insurance companies provide the cheapest full coverage policies in Florida for drivers with a speeding ticket:

• State Farm: $1,556 per year
• Travelers: $1,883 per year

GEICO is the most expensive provider at $3,861 per year. On average, you might pay about $626 more on car insurance in Florida after getting a speeding ticket.

For Florida drivers with an at-fault accident on their driving records, the most affordable full coverage car insurance companies are:

• State Farm: $1,688 per year
• Travelers: $1,970 per year

Mercury charges the most for drivers with at-fault accidents — roughly $4,981 per year. Being at fault in a car accident could increase your annual premium by $1,232 in Florida.

If you have a DUI on your record, the cheapest options for full coverage car insurance in Florida are:

• State Farm: $1,556 per year
• Progressive: $2,242 per year

Nationwide is the most expensive auto insurance provider for drivers with a DUI, at roughly $4,251 per year. On average, a DUI raises your annual premium by $979 in Florida.

The most affordable car insurance companies in Florida for drivers with poor credit are:

• Nationwide: $2,582 per year
• Travelers: $2,728 per year

If you have a low credit score, Allstate charges more than any other insurer for car insurance at $4,064 annually.

Credit scores are important 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 about $1,200 more for car insurance in Florida than someone with a credit score above 750.

Auto insurers charge higher premiums for drivers with poor credit scores because they're more likely to file claims. Florida allows insurers to use credit scores to set rates.

Improving your credit score can help lower your insurance rates. Look for insurers that offer safe-driver or other discounts to offset the impact of a low credit score.

The least expensive car insurance companies in Florida for drivers with sports cars are:

• Travelers: $1,201 per year
• State Farm: $1,532 per year

Farmers is the most expensive company to insure a sports car, with an average annual premium of $2,854.

Since sports cars have higher repair and replacement costs, auto insurance is usually more expensive than a policy for a standard vehicle. But this isn't the case in Florida. Compared to Toyota Camry LE drivers, sports car drivers pay about $109 less on car insurance premiums.

MoneyGeek used a Ford Mustang for the quotes in this study, but car insurance rates can vary widely depending on the model. Luxury, electric and sports cars are typically more expensive to insure than other vehicle types.

For active military members and veterans, Travelers is Florida's most affordable car insurance provider, with an average annual premium of $1,355.

USAA also provides inexpensive car insurance policies for military families. GEICO is another option for military-affiliated drivers, offering them a discount.

Car insurance costs in Florida vary by city. Drivers in areas with high theft, vandalism or accident rates often face higher premiums due to increased risk.

Cape Coral has the cheapest car insurance in Florida, with Travelers offering full coverage at about $1,348 per year. Travelers is also the most affordable option in West Palm Beach, costing around $2,202. Auto insurance is the most expensive in Hialeah, at an average of $2,628 per year for full coverage.

Check our list of Florida cities to compare average auto insurance costs by location.

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.

Under Florida's no-fault car insurance system, you only need to meet the state's minimum requirements for property damage liability and personal injury protection (PIP). While this keeps your premiums low, it offers less financial protection in case of an accident.

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.

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.

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 damage and medical treatments.

To qualify for self-insurance in Florida, submit the following documents to the appropriate department of Florida Highway Safety and Motor Vehicles (FLHSMV):

• A notarized financial statement confirming tour 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.

When looking for car insurance, consider cost and service quality. We answered frequently asked questions to help you understand auto insurance in Florida.