Cheapest Car Insurance Companies in Tampa, FL (2024 Rates)


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Updated: May 20, 2024

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Your individual driving profile and requirements influence your quotes. In Tampa, GEICO offers the cheapest minimum coverage and the most affordable insurance for sports cars. State Farm offers the cheapest rates for full coverage, senior drivers, young adults, military members and those with traffic infractions. Nationwide is the cheapest for teens and drivers with bad credit. MoneyGeek also analyzed the best car insurance in Tampa, Florida, for drivers looking for quality service with affordable rates.

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2024

Cheapest Car Insurance in Tampa, FL

Why Trust MoneyGeek? MoneyGeek analyzed recent data from the Florida Office of Insurance Regulation and Quadrant Information Services to find the cheapest auto insurance in Tampa.

127,836Quotes Analyzed
 
15Companies Compared

Cheapest Minimum Coverage Car Insurance in Tampa

According to MoneyGeek's research, the following companies in Tampa provide the most affordable minimum coverage auto insurance policies:

  • GEICO: $643 per year
  • State Farm: $786 per year

Costing around $2,002 annually, Direct General Insurance has the highest minimum coverage insurance premiums for Tampa drivers.

If you consider the state as a whole, the cheapest car insurance in Florida is from Travelers, costing $658 per year. This difference indicates that your specific location plays a significant role in determining which company offers the best value.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Minimum Coverage
GEICOAnnual Premium$643Monthly Premium$54
State FarmAnnual Premium$786Monthly Premium$66
NationwideAnnual Premium$937Monthly Premium$78
TravelersAnnual Premium$945Monthly Premium$79
MercuryAnnual Premium$1,065Monthly Premium$89
AllstateAnnual Premium$1,194Monthly Premium$100
FarmersAnnual Premium$1,389Monthly Premium$116
ProgressiveAnnual Premium$1,392Monthly Premium$116
Direct General InsuranceAnnual Premium$2,002Monthly Premium$167
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Liability coverage minimums vary from state to state. Florida law mandates having personal injury protection (PIP) and property damage liability (PDL):

  • $10,000 property damage liability per accident
  • $10,000 personal injury protection

The state-mandated liability-only insurance covers only property damage suffered by third parties involved in an accident. If you only have minimum insurance coverage, you can expect your Tampa insurance provider to pay up to $10,000 for any property damage you cause to a third party, while any further expenses are paid out-of-pocket.

Cheapest Full Coverage Car Insurance in Tampa

Drivers in Tampa may get full coverage auto insurance from the following providers at the cheapest rates:

  • State Farm: $1,527 per year
  • GEICO: $1,622 per year

With an average yearly cost of $3,618 for full coverage insurance, Direct General Insurance was the most expensive choice for Tampa drivers.

On a statewide basis, Travelers provides the cheapest full coverage insurance in Florida, with annual premiums costing roughly $1,394. This indicates how the cheapest insurer can vary from city to city, even within the same state.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
State FarmAnnual Premium$1,527Monthly Premium$127
GEICOAnnual Premium$1,622Monthly Premium$135
NationwideAnnual Premium$1,925Monthly Premium$160
TravelersAnnual Premium$1,990Monthly Premium$166
MercuryAnnual Premium$2,295Monthly Premium$191
ProgressiveAnnual Premium$2,398Monthly Premium$200
AllstateAnnual Premium$2,726Monthly Premium$227
FarmersAnnual Premium$2,763Monthly Premium$230
Direct General InsuranceAnnual Premium$3,618Monthly Premium$302

In addition to higher liability limits, full coverage insurance also provides collision and comprehensive coverage.

  • Collision insurance: This covers damages caused by collisions with another vehicle or a stationary object, regardless of fault. Collision also covers rollover accidents and pothole damage.
  • Comprehensive insurance: This pays for non-collision damages from events such as natural disasters, theft, vandalism and vehicle fires.

For older vehicles, a full coverage policy might not be advisable because you'd pay hundreds more annually for insurance for a vehicle that might not be worth much.

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Cheapest Car Insurance in Tampa After a Driving Offense

State Farm offers the cheapest full coverage auto insurance in Tampa for drivers with the following traffic violations:

  • Speeding ticket: State Farm ($1,730 per year)
  • At-fault accident: State Farm ($1,883 per year)
  • DUI: State Farm ($1,730 per year)

Nationwide quotes the highest rates for DUI drivers ($4,515), while Direct General Insurance has the most expensive policies for drivers with speeding tickets ($3,618) and those with a history of at-fault accidents ($5,049).

Any insurance company may increase your rate if you are involved in a traffic incident.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
Incident:
Incident:Speeding
State FarmAnnual Premium$1,730Monthly Premium$144
NationwideAnnual Premium$2,306Monthly Premium$192
AllstateAnnual Premium$2,726Monthly Premium$227
TravelersAnnual Premium$2,795Monthly Premium$233
GEICOAnnual Premium$3,170Monthly Premium$264
MercuryAnnual Premium$3,237Monthly Premium$270
ProgressiveAnnual Premium$3,384Monthly Premium$282
FarmersAnnual Premium$3,494Monthly Premium$291
Direct General InsuranceAnnual Premium$3,618Monthly Premium$302

An increase in rate may be warranted depending on the seriousness of a driving offense. Drivers in Tampa who have a DUI can expect to pay roughly $400 more per year in insurance premiums than those who have a speeding ticket. You can still get affordable car insurance with a poor driving history if you shop around and compare quotes.

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MONEYGEEK EXPERT TIP

An at-fault accident can happen to even the safest drivers, but if they have accident forgiveness coverage on their auto policy, they won't see an increase in their rate. This optional coverage is available from many insurers in Florida. It stops your policy's premium from going up after your first at-fault accident. Some companies even award it for safe driving habits, such as Progressive and GEICO. — Mark Friedlander, Director, Corporate Communications, Insurance Information Institute

Cheapest Car Insurance in Tampa for Teens and Their Families

The cheapest car insurance companies for Tampa teenagers added to a family policy are:

  • Nationwide: $3,812 per year for female teens, $4,299 per year for male teens
  • State Farm: $4,384 per year for female teens, $5,385 per year for male teens

Teen girls pay Tampa’s highest rate with Allstate, which charges around $6,127. The costliest for teen boys is Travelers at around $7,030 annually. Even the cheapest provider for teenagers, Nationwide, charges around $487 more per year for teen boys than teen girls. Insuring teen boys is often costlier because insurers view them as riskier drivers. However, the difference fades away as teens age into young adults.

Data filtered by:Results filtered by:
Age:
Age:16
Gender:
Gender:Female
NationwideFamily Plan Annual Premium$3,812Individual Plan Monthly Premium$13,662
State FarmFamily Plan Annual Premium$4,384Individual Plan Monthly Premium$9,011
TravelersFamily Plan Annual Premium$5,617Individual Plan Monthly Premium$19,139
GEICOFamily Plan Annual Premium$5,938Individual Plan Monthly Premium$12,162
ProgressiveFamily Plan Annual Premium$5,996Individual Plan Monthly Premium$17,339
AllstateFamily Plan Annual Premium$6,127Individual Plan Monthly Premium$39,996
FarmersFamily Plan Annual Premium$7,359Individual Plan Monthly Premium$24,530

Adding a young driver to a family policy is more cost-effective than a teen buying their own policy, and if they are under 18, they must have a parent or guardian co-sign their policy. In Tampa, the individual annual insurance cost for a teen boy is around $4,940 higher than adding him to an existing family policy. Families can save money by choosing among the cheapest car insurance options for teens.

Cheapest Car Insurance in Tampa for Military Drivers

The following Tampa insurers offer the most affordable military auto insurance to active-duty and veteran service personnel, as well as their families:

  • State Farm: $1,527 per year
  • GEICO: $1,622 per year

These are prices for full coverage insurance. For minimum coverage, GEICO is the cheapest at $643 per year, followed by State Farm at $786. USAA is also a good option for service members due to its focus on serving drivers with a military background.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
State FarmAnnual Premium$1,527Monthly Premium$127
GEICOAnnual Premium$1,622Monthly Premium$135
NationwideAnnual Premium$1,925Monthly Premium$160
TravelersAnnual Premium$1,990Monthly Premium$166
MercuryAnnual Premium$2,295Monthly Premium$191
ProgressiveAnnual Premium$2,398Monthly Premium$200
AllstateAnnual Premium$2,726Monthly Premium$227
FarmersAnnual Premium$2,763Monthly Premium$230
Direct General InsuranceAnnual Premium$3,618Monthly Premium$302

How to Compare Cheap Tampa Car Insurance Quotes Online

Comparison shopping for auto insurance online can take some time. You may be asked for a lot of personal information as part of the application process, and it may take upwards of 15 minutes to get insurance quotes from one company.

By inputting basic information such as your age, vehicle type, required coverage and driving record, MoneyGeek's auto insurance calculator can quickly estimate your auto insurance rates from various providers.

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Rates updated:

Oct 14, 2024

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Cheapest Car Insurance in Tampa for Young Adults

In Tampa, young adults get the cheapest car insurance from the following companies:

  • State Farm: $1,807 per year
  • Travelers: $2,263 per year

The highest-priced auto insurance option for Tampa's young adults is Direct General Insurance, with an average yearly premium of $4,693 for full coverage.

In comparison, Tampa drivers in their 40s pay about $526 less annually for auto insurance than drivers in their 20s. This is most likely influenced by young drivers having a higher rate of accidents than older drivers.

Data filtered by:Results filtered by:
Age Group:
Age Group:22-29
Coverage:
Coverage:Full Coverage
State FarmAnnual Premium$1,807Monthly Premium$151
TravelersAnnual Premium$2,263Monthly Premium$189
GEICOAnnual Premium$2,277Monthly Premium$190
NationwideAnnual Premium$2,292Monthly Premium$191
AllstateAnnual Premium$2,827Monthly Premium$236
ProgressiveAnnual Premium$2,834Monthly Premium$236
MercuryAnnual Premium$3,133Monthly Premium$261
FarmersAnnual Premium$3,472Monthly Premium$289
Direct General InsuranceAnnual Premium$4,693Monthly Premium$391

Cheapest Car Insurance in Tampa for Seniors

The cheapest auto insurers for senior drivers seeking full coverage policies in Tampa are:

  • State Farm: $1,403 per year
  • GEICO: $1,499 per year

Direct General Insurance ranks as the most expensive insurer in this category, charging around $3,554 annually for senior drivers. When compared to drivers in their 40s, Tampa seniors save an average of $53 per year on auto insurance costs. After age 65, premiums tend to increase, as there’s a significant risk of serious injury during car accidents for drivers in their 70s and 80s.

Data filtered by:Results filtered by:
Age Group:
Age Group:60 +
Coverage:
Coverage:Full Coverage
State FarmAnnual Premium$1,403Monthly Premium$117
GEICOAnnual Premium$1,499Monthly Premium$125
NationwideAnnual Premium$1,794Monthly Premium$150
TravelersAnnual Premium$1,894Monthly Premium$158
MercuryAnnual Premium$2,164Monthly Premium$180
ProgressiveAnnual Premium$2,346Monthly Premium$196
AllstateAnnual Premium$2,705Monthly Premium$225
FarmersAnnual Premium$3,030Monthly Premium$253
Direct General InsuranceAnnual Premium$3,553Monthly Premium$296

Cheapest Car Insurance in Tampa for Poor Credit

The most affordable car insurance rates for those with bad credit come from the following providers in Tampa:

  • Nationwide: $2,660 per year
  • GEICO: $3,325 per year

For Tampa’s drivers with less-than-ideal credit, the annual premium for Allstate car insurance is around $4,963, making it the most costly choice for those needing full coverage. Insurance providers are likely to take your credit score into account when determining your insurance premiums. Drivers in Tampa who have bad credit are likely to spend $1,344 more for auto insurance, around 58% more than those who have good credit.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:null
NationwideAnnual Premium1,300Monthly Premium108
GEICOAnnual Premium1,349Monthly Premium112
FarmersAnnual Premium1,693Monthly Premium141
MercuryAnnual Premium1,806Monthly Premium150
Direct General InsuranceAnnual Premium2,002Monthly Premium167
TravelersAnnual Premium2,105Monthly Premium175
ProgressiveAnnual Premium2,145Monthly Premium179
State FarmAnnual Premium2,186Monthly Premium182
AllstateAnnual Premium2,298Monthly Premium192
NationwideAnnual Premium2,660Monthly Premium222
FarmersAnnual Premium3,294Monthly Premium275
GEICOAnnual Premium3,325Monthly Premium277
Direct General InsuranceAnnual Premium3,618Monthly Premium302
ProgressiveAnnual Premium3,633Monthly Premium303
State FarmAnnual Premium3,673Monthly Premium306
MercuryAnnual Premium3,678Monthly Premium306
TravelersAnnual Premium4,121Monthly Premium343
AllstateAnnual Premium4,963Monthly Premium414

Insurance companies believe that drivers with bad credit file more claims, which results in higher premiums. That said, you can still find relatively affordable car insurance with poor credit.

Researching common discounts, bundling policies and comparing quotes from several insurers are all good ways to cut down on insurance prices. Your rates may also go down if you work on raising your credit score over time.

Cheapest Car Insurance in Tampa for Sports Cars

For Tampa's cheapest car insurance for sports cars, the following providers offer the lowest rates for full coverage policies:

  • GEICO: $1,606 per year
  • State Farm: $1,686 per year

Progressive has the highest average annual premium for sports cars in the city at $2,611. Because of the higher expense of servicing and repairing sports cars, insurance for these vehicles is typically more expensive than for other types of cars. There are, however, regional differences. In Tampa, for example, insurance rates for sports cars are about $167 or 7% less expensive than those for a Toyota Camry.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:
Coverage:Full Coverage
GEICOAnnual Premium$1,606Monthly Premium$134
State FarmAnnual Premium$1,686Monthly Premium$140
TravelersAnnual Premium$1,724Monthly Premium$144
NationwideAnnual Premium$2,146Monthly Premium$179
AllstateAnnual Premium$2,495Monthly Premium$208
ProgressiveAnnual Premium$2,611Monthly Premium$218
FarmersAnnual Premium$2,791Monthly Premium$233

MoneyGeek used a Ford Mustang as our example sports car. Understand that insurance premiums can vary by model and are typically higher for luxury models, electric vehicles and sports cars. While Tampa’s average sports car insurance cost is less than that of standard car insurance, this is an outlier and not typical of sports car insurance premiums in other cities.

Average Cost of Car Insurance in Tampa

Insurance premiums vary based on location and many other factors. The average annual full coverage auto insurance rate in Tampa is $2,318, covering property damage liability of $100,000 plus bodily injury liability of $100,000 per person and $300,000 per accident. This is $383 more than Florida’s average cost of car insurance and $1,053 more than the national average car insurance premium.

GainesvilleFull Coverage Average Annual Premium$1,367Minimum Coverage Average Annual Premium$661
TallahasseeFull Coverage Average Annual Premium$1,427Minimum Coverage Average Annual Premium$670
Cape CoralFull Coverage Average Annual Premium$1,496Minimum Coverage Average Annual Premium$744
Palm BayFull Coverage Average Annual Premium$1,551Minimum Coverage Average Annual Premium$769
Lehigh AcresFull Coverage Average Annual Premium$1,596Minimum Coverage Average Annual Premium$802
LakelandFull Coverage Average Annual Premium$1,636Minimum Coverage Average Annual Premium$800
Port St. LucieFull Coverage Average Annual Premium$1,647Minimum Coverage Average Annual Premium$832
JacksonvilleFull Coverage Average Annual Premium$1,736Minimum Coverage Average Annual Premium$833
Spring HillFull Coverage Average Annual Premium$1,751Minimum Coverage Average Annual Premium$857
OrlandoFull Coverage Average Annual Premium$1,767Minimum Coverage Average Annual Premium$889
ClearwaterFull Coverage Average Annual Premium$1,848Minimum Coverage Average Annual Premium$897
St. PetersburgFull Coverage Average Annual Premium$1,952Minimum Coverage Average Annual Premium$942
Pembroke PinesFull Coverage Average Annual Premium$2,035Minimum Coverage Average Annual Premium$977
DavieFull Coverage Average Annual Premium$2,071Minimum Coverage Average Annual Premium$996
MiramarFull Coverage Average Annual Premium$2,083Minimum Coverage Average Annual Premium$1,015
Fort LauderdaleFull Coverage Average Annual Premium$2,104Minimum Coverage Average Annual Premium$1,003
Coral SpringsFull Coverage Average Annual Premium$2,141Minimum Coverage Average Annual Premium$1,056
BrandonFull Coverage Average Annual Premium$2,154Minimum Coverage Average Annual Premium$1,053
Pompano BeachFull Coverage Average Annual Premium$2,182Minimum Coverage Average Annual Premium$1,060
HollywoodFull Coverage Average Annual Premium$2,211Minimum Coverage Average Annual Premium$1,058
TampaFull Coverage Average Annual Premium$2,318Minimum Coverage Average Annual Premium$1,150
Miami GardensFull Coverage Average Annual Premium$2,323Minimum Coverage Average Annual Premium$1,143
West Palm BeachFull Coverage Average Annual Premium$2,327Minimum Coverage Average Annual Premium$1,155
MiamiFull Coverage Average Annual Premium$2,368Minimum Coverage Average Annual Premium$1,188
HialeahFull Coverage Average Annual Premium$2,579Minimum Coverage Average Annual Premium$1,378