With over 21 million registered vehicles on Florida roads, car insurance is a necessity for drivers in the Sunshine State. However, Florida auto insurance premiums are among the highest in the nation, averaging over $2,000 per year. Smart consumers can find cheaper car insurance in Florida by shopping around, evaluating discounts, adjusting coverage, and driving safely. This article reviews the top ways to lower insurance costs and also identifies the cheapest car insurance companies in Florida based on rate analysis.
We considered rates for minimum required coverage as well as full coverage with higher liability limits. Our research found that certain insurers consistently offer cheaper rates in Florida, though pricing can vary widely based on your location, age, driving history, and other factors.
Florida Minimum Car Insurance Requirements
Under Florida law, all motor vehicles operated on public roads must be covered by valid car insurance. The minimum liability insurance requirements are:
- $10,000 bodily injury liability per person
- $20,000 bodily injury liability per accident
- $10,000 property damage liability
- $10,000 personal injury protection (PIP)
This coverage, abbreviated as 10/20/10, is the minimum needed to register your vehicle and comply with financial responsibility laws in Florida. It provides basic liability protection if you cause an accident resulting in injuries or property damage. PIP covers medical expenses for you and your passengers after an accident, no matter who was at fault.
While minimum coverage meets state requirements, experts recommend also considering:
- Higher liability limits of 50/100/50 or 100/300/100 to better protect your assets
- Comprehensive and collision coverage to protect your vehicle from damage
- Uninsured or underinsured motorist coverage in case an at-fault driver lacks sufficient insurance
Carefully weigh the costs and benefits when deciding on coverage. Higher limits or added coverage increase premiums but provide greater financial protection.
How We Chose the Cheapest Car Insurance Companies in Florida
Sample quotes from 15 major insurers for six driver profiles across 15 Floridian cities were considered to identify the cheapest auto insurance providers in the Sunshine State. The driver profiles ranged from a 21-year-old single female to a 60-year-old married male. Both minimum coverage and full coverage limits were included.
We then calculated each company’s average rate across all tested profiles and locations. While not a comprehensive rating, this analysis provides a reasonable comparison of average auto insurance premiums by insurer. The rates you receive may differ based on your driving record, vehicle, location, and other factors. However, the cheapest insurers for minimum coverage generally align with those offering lower full coverage rates.
Cheapest Car Insurance in Florida for Minimum Coverage
With average annual premiums over $2,000, Florida drivers know that keeping insured on the state’s roads can be costly. However, some insurance providers offer more affordable rates than others in the Sunshine State. We compared quotes from the largest auto insurers in Florida to see which ones provide the cheapest car insurance options for the minimum required coverage.
Our analysis looked at sample rates for a variety of driver profiles in locations across Florida. Based on average premiums, these four insurers consistently offered the most competitive minimum coverage car insurance rates:
- GEICO: Average annual premium of $822
- Progressive: Average annual premium of $944
- State Farm: Average annual premium of $980
- USAA: Average annual premium of $1,106
Of these top providers, GEICO stood out with the most affordable pricing by a significant margin. On average, GEICO quoted minimum coverage premiums 35% lower than State Farm and 47% less than Allstate. This makes GEICO a great option for Floridians seeking cheaper rates while still getting coverage from a leading national insurer.
However, military members, veterans, and their families may find even lower premiums through USAA. This insurer offers specialized rates limited to those who have served our country. So USAA is also an excellent source for affordable minimum coverage for eligible drivers.
To find your cheapest Florida car insurance option, get comparative quotes from GEICO, Progressive, State Farm, and USAA. You should also consider requesting rates from other insurers like The General, MetLife, and Safeco. Just be sure to compare the same coverage amounts when evaluating multiple insurer quotes.
Also, find out if you qualify for any discounts that could further reduce your premiums. Taking defensive driving courses, bundling policies, having multiple cars on a policy, maintaining good credit, and being a good student are some ways Florida drivers may save. Certain factors, like age, driving history, location, and marital status, can impact your insurance rates in Florida. For instance, younger drivers and those with accidents, traffic violations, or DUIs typically pay much higher premiums. So these higher-risk groups especially need to shop carefully to find affordable coverage.
Another money-saving option is looking at insurance policies based on usage from companies like Progressive and Allstate. These base your premium on your actual driving habits, so safe drivers who don’t rack up excessive mileage can save.
By comparing quotes and discounts from the most cost-effective insurers, Florida motorists can find cheaper car insurance rates for the required minimum coverage. Take time to shop around and evaluate all available savings opportunities. This can help you keep insurance costs down without sacrificing important protection.
People in Florida have options for reducing the cost of required auto insurance. By comparing quotes from top low-cost insurers like GEICO, Progressive, and State Farm, many drivers can find cheaper rates while still getting solid financial protection from a leading insurer. Carefully review your coverage needs and get multiple quotes to find your best car insurance option.