Average Cost Of Car Insurance In Florida

How Much Is Insurance For A Sport Car

Study: Car Insurance In Florida Costs More Than Nearly Everywhere Else In US

The cost of insurance for a sport car will vary depending on a number of factors, including the make and model of the car, the drivers age and driving record, the location where the car will be driven, and the amount of coverage desired. However, as sport cars are generally more expensive to repair or replace than other types of cars, insurance companies typically charge higher premiums for them. As such, drivers of sport cars can expect to pay more for their insurance than drivers of other types of cars.

An insurance policy must be purchased if you want to own a sports car. Sports car insurance is the same as any other type of auto insurance. In order to obtain the necessary insurance, you must first identify a provider who specializes in high-performance auto insurance. You will be in a position to obtain coverage if your driving record is clean and you have never been convicted of any traffic violations. Your vehicles collision coverage will compensate you if it damages someones property. You will be compensated if your property is damaged in an unexpected way as a result of comprehensive coverage. When you have personal injury protection, you will have medical coverage in case of an accident.

What Are The Average Monthly Car Insurance Rates In Fl For Liability Collision And Comprehensive

Now well cover some of the Florida car insurance laws because getting the most out of every dollar you spend on car insurance means understanding what is required of you as a car owner in Florida.

The rates reflected below are from 2015, so rates for 2021 might be slightly higher. Educating yourself on the best 2021 car insurance in Florida will help you save money.

First, understand the car insurance requirements for Florida, research the car insurance companies available in your area, and then shopping around for the best rates from each of them can help keep your costs down, though.

Average Annual Florida Car Insurance Core Coverage Rates

Coverage Type

According to the Insurance Information Institute, Florida ranks among the top 10 most expensive states for annual average car insurance expenditures.

Why is Florida car insurance so expensive? Florida has a dense population with major metropolitan areas across the state. It also has no-fault insurance, which tends to drive up rates. To see how much the average car insurance rate will cost in those areas, continue reading.

How Does One’s Marital Status Influence Premiums In Florida

One benefit that people who live in Florida have when it comes to insurance premiums is that wedded motorists in this state pay $81 less on auto insurance annually, whereas the average national discount for married couples in the U.S. amounts to $76. According to TheZebra.com, average annual premiums in Florida by marital status are as follows:

  • Single: $1803.59
  • Widowed: $1762.38

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Cheapest Car Insurance For Young Drivers: Geico

Teenage drivers may pay $1,996 more per year for minimum-coverage car insurance in Florida than older drivers.

The cheapest full-coverage car insurance for 18-year-old drivers comes from Geico. In Florida, Geico’s rates are 66% cheaper than average for teens looking for full-coverage car insurance. Alternatively, State Farm also offers cheap coverage, at 46% less than average.


Delaware: $2027 Full Coverage

Florida Car Insurance Cost for 2021

Delaware takes seventh place in states with the most expensive full coverage insurance, which also translates to it being another state with the highest average auto insurance cost per month. Moreover, the minimum coverage is $918.

The car insurance in this state is so high because of Delawares small physical size leading to high population density, more crashes, and expensive repair prices.

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Florida Car Insurance Tips

When it comes to finding a car insurance premium, be sure to get a variety of quotes from different carriers so that you can compare your options. Sometimes, you might be able to negotiate with a car insurance provider, especially if you can let them know another company has offered you a cheaper or better rate.

Weve already mentioned it, but its so important its worth mentioning again: Be sure to get uninsured motorist coverage. Uninsured motorist coverage helps ensure that youre taken care of, no matter the insurance coverage situation of someone else involved in an accident.

If you are injured in a Florida Car Accident, UM coverage can help guarantee that your medical costs are taken care of regardless of if the person who caused the accident has car insurance or not.

How Much Is Car Insurance In Florida

The average cost of full coverage car insurance in Florida is $2,780 per year, or about $232 per month, according to NerdWallets analysis. Minimum coverage in Florida is $1,084 per year on average, but we found you can likely get a cheaper policy. For example, Geico offers the cheapest rates in Florida at $717 per year, on average, for minimum coverage car insurance for a 35-year-old driver with a clean driving record.

» MORE:Compare car insurance rates

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How Much Car Insurance Costs By Age

Along with your location and the amount of insurance you have, age is one of the most important factors when it comes to auto insurance rates. Drivers under 25 tend to pay much more for coverage because of their inexperience behind the wheel.

The average cost of car insurance before you turn 25 can be thousands of dollars more expensive per year than for older drivers. For example, car insurance costs a newly licensed 16-year-old $404 more per month than someone whos 25 an increase of 251%.

Join an existing policy for lower insurance costs

One of the best ways that you can find lower car insurance costs as a young driver is by joining your parents existing policy. We found that its $225 cheaper per month for a teen to join an existing policy than to get their own.

Gen Zers have the most expensive costs of car insurance of any age group. Rates are $211 more expensive each month than average for these drivers and $140 more expensive than for the next youngest generation, millennials, and $222 higher than rates for Gen X.


Consider Your Individual Needs

Study: Florida ranked 2nd-highest for auto insurance costs

Every driver has a unique set of circumstances that they bring to car insurance. Your situation will affect the company, coverage types and levels, endorsements and discounts you choose. For example, if you have a teen driver, you may want to search for companies that offer student discounts, which could help you lower your premium. If you have a few accidents, tickets, a DUI conviction or any combination of these incidents on your driving record, you might be considered a high-risk motorist. Your insurance company choices could be limited, so you might need to do a bit more research to find the best option for you.

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What Does Florida Car Insurance Cover

Florida car insurance will have required and optional coverages. Some of the standard limits of protection are:

  • Bodily injury liability: Pays for medical expenses of others.
  • Property damage liability: Pays for property damage of others.
  • Personal injury protection: Pays for your medical expenses.
  • Uninsured/underinsured motorist: Pays for an accident involving an uninsured/underinsured motorist.

Average Cost Of Car Insurance In Florida By City

The cost of auto insurance in Florida is $2,962 per year for a full-coverage policy, or $247 per month. Location, along with other personal characteristics, can change your typical cost.

Santa Rosa Beach is the cheapest city for car insurance in Florida, averaging $2,122 per year. Brownsville, just outside Miami, is the most expensive city, at $4,291.

Similarly, the cheapest ZIP code in Florida for car insurance is 32459, in Santa Rosa Beach. Drivers in the Miami area code 33127 have the most expensive car insurance rates, at $4,313 per year.


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How Much Car Insurance Costs For Different Vehicles

We found that the cost of car insurance can change by hundreds of dollars a year depending on the car that you drive. Our analysis shows that electric cars cost $49 more each month than an SUV does. In fact, the costs to insure a small and regular-sized SUV are nearly the same.

The cost of car insurance for electric vehicles is $68 more than average per year, making these EVs the most expensive vehicles to insure.

The average cost of car insurance for SUVs is the cheapest, but we found that the Ford F-150 is the most affordable vehicle to insure. Auto insurance rates for Teslas tend to be much more expensive. Insurance for a Tesla Model 3 and Y costs $1,000 more per year than for a Ford truck.


How Much Car Insurance Costs By Company

Average Car Insurance Rates By Age In Florida

Car insurance rates can cost thousands of dollars more per year at one insurance company compared to another. Our analysis found that the average cost of auto insurance can vary by as much as $222 per month depending on the company.

While many top auto insurance companies use the same factors to set your rate including your location, age, and driving history not every provider evaluates these factors the same way.

In our analysis, USAA has the best car insurance rates among the largest providers. But since USAA is only an option for people in the military, GEICO more often has the most affordable average car insurance rates for most people.

Smaller insurers, like Auto-Owners Insurance, or even local companies, may have cheap rates, too.



Monthly costs of car insurance based on different coverage amounts of bodily injury liability coverage. Minimum coverage includes enough insurance to meet the state’s legal requirements, while the “full” and “most” columns are for $50,000 per person/$100,000 per accident and $100,000 per person/$300,000 per accident.

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What Is The Average Cost Of Car Insurance In California By Age

Teenagers pay a steep premium to drive in California: $439 on average, more than most high schoolers can make in a week working part-time. Young adults in their twenties see their average rates go down to $303, just $50 above the state average.

If youre in your thirties, forties, or fifties, chances are youll pay a bit less than the state averagejust watch out for those youngsters on the road. California drivers age 60 and older pay average monthly rates that hover around $190, much less than half what the teenagers pay.

Age Avg. Monthly Rate The car insurance quotes, statistics, and data visualizations on this page are derived from Insurifys proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurifys data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.
  • Personalized quotes in 5 minutes or less
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Car Insurance Quotes In Florida: How To Get Affordable Auto Insurance Rates In Fl

The most effective way to find affordable car insurance in Florida is to compare car insurance quotes from multiple carriers. Your age, your driving record, the model of car you have, the severity and frequency of claims in your neighborhood and other variables are used by insurance companies to figure out the cost of your policy. Thats why the price for the same coverage can vary significantly among insurance companies and why you should compare rates.

For example, Miami ZIP code 33125 is among the most expensive ZIP codes for full coverage insurance in the state. But you can still save on coverage by comparing rates. The highest monthly rate among six carriers is $244 more than the lowest . So over a year, that add up to nearly $2,928 you could save. If you want to compare car insurance quotes, use our tool above. You should comparison shop upon renewal, but also if you move, add a vehicle or teen driver to your policy, get married or divorced, or have a significant change in your credit score.

Other tips for garnering the most affordable Florida car insurance quotes include:

  • Maximizing discounts, for instance bundling your home and auto with the same company can trim an average of 10% to 12% from your auto rates.
  • Dropping comprehensive and collision for cars that are worth less than $3,000
  • Hiking your deductible amount, for instance, from $500 to $1,000

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Cheapest Car Insurance In Florida

Based on a 35-year-old driver with good credit and a clean driving history, Geico offers the cheapest Florida car insurance, with an estimated annual premium of $1,565 for full coverage. The statewide average estimate for a full coverage policy in Florida is $2,927 per year.

Car Insurance Provider
  • Make, model, and year of your vehicle
  • Your driving record

Cheapest Full Coverage Car Insurance In Florida For 40

Southwest Florida car insurance rates based heavily on location

Drivers in Florida with clean driving records may want to think about the following companies, which had the lowest average rates:

  • State Farm: $1,956 per year, or about $163 per month.

  • Geico: $2,017 per year, or about $168 per month.

  • Allstate: $2,677 per year, or about $223 per month.

  • MetLife: $2,738 per year, or about $228 per month.

  • Progressive: $3,378 per year, or about $282 per month.

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    What Are The Largest Car Insurance Companies In Florida

    We gave you a brief overview of how a car insurance providers market share and how it works alongside loss ratio to help you get better customer service. But what does market share mean?

    Florida Car Insurance Companies Direct Premiums Written and Market Share


    GEICO controls approximately 25% of the overall car insurance market in Florida. GEICO also has $4,678,326 in Direct Premiums Written, which indicates that GEICO is financially sound as well since:

    While insurance companies can increase revenue by increasing premiums on policies that have come up for renewal, the main driver for growth in this area is writing new policies.

    What about The General auto insurance in Florida? You can get cheaper car insurance, but GEICO and other high market companies perform much better.

    Florida Car Insurance: Summary

    Florida car insurance is both expensive and complicated. But there are several reputable companies that offer competitive rates on auto coverage in the Sunshine State. The best insurer for you, however, depends largely on your driver profile and other factors. So the provider with the best rates for your neighbor may not offer the best rates for you.

    The only way to know for sure youre getting the best Florida car insurance rates is to get offers from multiple providers and compare them.

    Compare auto insurance rates

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    What Happens When Insurance Doesnt Cover The Costs

    You might assume that in a no-fault state, you dont really have any responsibility when you cause an accident. However, thats not the case. As we just mentioned, Florida requires drivers to carry a minimum of $10,000 in PIP, but thats also the maximum they can carry. Florida also does not require people to purchase MedPay, so many people only have PIP.

    Imagine you caused a severe accident and the other driver claimed $20,000 in medical bills. Their own PIP would cover $10,000 of that amount, but Florida law allows them to sue you for the other $10,000. Under a personal injury lawsuit, the other driver could sue for:

    • Pain and suffering
    • Emotional trauma

    The other driver can also sue you if they suffer a permanent injury from the accident. Permanent injury includes:

    • Loss of an important bodily function

    Thats why its a good idea to carry BI coverage on your Florida car insurance plan. That coverage will pay for the other partys medical costs in an accident that you cause. PIP gets used first, but BI is there to safeguard against lawsuits when claims go beyond the limit.

    Average Car Insurance Rates By State

    Average Price of Car Insurance in Florida

    Carinsurance.com gathered car insurance premium data from every state so you can see how much you can expect to pay, on average, for automobile insurance in 2022. The editors included data on which states offer the cheapest car insurance rates, on average, and which states charge the most expensive car insurance rates, on average.

    The national average annual cost for a full-coverage policy is $1,682 per year in 2022, but laws in your state and your driving profile and vehicle profile can cause rates to vary.

    The data methodology is based on a 40-year-old male driver with a clean record who needs full coverage, has a good insurance score and drives about 12 miles to work.

    The editors findings might surprise you. Some of the states with the lowest average annual car insurance premium rates are states where the cost of living, on average, is higher. And some of the smallest and least-populated states in the nation rank among the 10 states with the highest average annual car insurance premium rates.

    Average auto insurance rates by state in 2022, from highest to lowest


    Geoff Cudd, a Philadelphia-based consumer advocate and owner of FindTheBestCarPrice.com, says these rankings don’t surprise him.

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