Florida law mandates that every driver carry car insurance to operate a motor vehicle on state roadways. While car insurance is a necessary expense, it doesn’t have to cost you an arm and a leg. Here is your guide to purchasing cheap car insurance in Florida.
Florida Insurance Requirements
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Florida is a “no-fault” state. Your insurance company covers damages to your vehicle and any necessary medical care, even if the other driver is at fault in an accident. To meet Florida’s insurance requirements, your insurance policy should include:
- Personal Injury Protection (PIP): Florida drivers must carry $10,000 worth of PIP coverage (Florida no-fault insurance). Your PIP limit is the most that your insurance provider will pay if you sustain injuries in an accident, regardless of who’s at fault.
- Property Damage Liability (PDL): Florida drivers must carry $10,000 worth of PDL coverage. Your PDL limit is the maximum amount your provider will pay if your vehicle or other property sustains damage in an accident.
While Florida does not require drivers to carry bodily injury liability insurance, the state requires you to prove that you can pay for damages you cause in an accident. The easiest way to prove that you meet your financial obligations is to include the following in your insurance policy:
- Bodily Injury Liability: $10,000 per person
- Bodily Injury Liability: $20,000 per accident
Florida requires insurance companies to give you the option of purchasing uninsured motorist coverage, but you can decline this coverage in writing. Keep in mind that while minimum insurance coverage is cheaper than full coverage, you’ll likely pay a substantial amount out of pocket if you’re in a significant accident.
Cheapest Providers For Minimum Coverage in Florida
If you want to meet Florida’s minimum insurance requirements and are looking for the most affordable rates, consider the following providers:
- Geico: $841 a year/$70 a month
- State Farm: $842 a year/$70 a month
- Allstate: $1,138 a year/$95 a month
- Progressive: $1,156 a year/$113 a month
- Direct Auto: $1,379 a year/$115 a month
These are average policy prices and might be higher or lower depending on your circumstances.
Cheapest Providers For Full Coverage in Florida
Experts recommend you purchase full coverage because you’ll have fewer out-of-pocket expenses if you experience a significant accident. While full coverage costs more than minimum coverage, you’re likely to save money if you purchase a full-coverage policy from one of these providers:
- State Farm: $1,739 a year/$145 a month
- Geico: $2,085 a year/$174 a month
- Allstate: $2,441 a year/$203 a month
- Progressive: $2,573 a year/$214 a month
- Direct Auto: $2,766 a year/$231 a month
Again, these are average policy prices and may differ depending on your driver profile.
Factors That Can Affect Your Car Insurance Rates
The average cost for car insurance in Florida is $2,364 a year for full coverage. Several factors can affect whether you pay higher or lower than the state average. For example, younger drivers tend to pay more for car insurance than older drivers because they have less experience behind the wheel. Here’s what you can expect to pay for full coverage, on average, depending on your age group:
- Ages 16 and 17: $4,343 a year
- Ages 18 and 19: $8,167 a year
- Ages 20 to 24: $5,726 a year
- Ages 25 to 29: $3,359 a year
- Ages 30 to 39: $2,958 a year
- Ages 40 to 49: $2,364 a year
- Ages 50 to 59: $2,480 a year
- Ages 60 to 69: $2,400 a year
- Ages 70 and over: $2,628 a year
Insurance providers also factor in your location when calculating your car insurance rates. Suppose you live in a densely populated area with more drivers on the road or in an area with a high rate of auto thefts and other property crimes. In that case, providers are taking a greater risk in providing you with insurance, meaning you’ll pay more than a driver who lives in a sparsely populated area with low crime rates. Here are the cheapest Florida cities for minimum coverage:
- Ponce de Leon: $707 a year
- Marianna: $709 a year
- Malone: $709 a year
- Greenwood: $709 a year
The most affordable Florida cities for full coverage, on average, are:
- Santa Rosa Beach: $1,752 a year
- Freeport: $1,757 a year
- Defuniak Springs: $1,770 a year
- Alachua: $1,775
Your driving record has the most significant impact on your car insurance costs. Here’s what you can expect to pay for full coverage if you have a clean record versus what you might pay if you don’t have a clean record:
- Clean record: $2,364 a year
- Speeding ticket on your record: $3,352 a year
- Accident on your record: $3,663 a year
- DUI on your record: $4,548 a year
Depending on your insurance provider, receiving a ticket, being at fault in an accident, or getting convicted for a DUI can affect your car insurance rates for three to five years. If you can maintain a clean record moving forward, you may see your rates drop after three to five years.
Available Car Insurance Rates for Florida Drivers
Even if you’re in a demographic that tends to pay higher insurance rates, there are ways to save money on your car insurance. Here are standard discounts available to Florida drivers:
- Good driver: If you have a clean record and no claims history, you can save between 10% and 30% on your car insurance rates. Your company may provide you with a telematics device or smartphone app that monitors your driving habits. If the monitor shows that you’re driving safely, you could receive even more significant discounts.
- Good student: If you have a teen driver on your insurance policy, they can receive discounts for maintaining a “B” average or higher. Teens can also receive discounts for completing qualifying driver education courses.
- Policy bundling: If your car insurance provider offers home or renter’s insurance, they may give you a discount for switching your homeowner’s coverage. You can also qualify for a discount by insuring all of your vehicles with the same company.
Insurance companies also offer discounts for used vehicles, cars with the latest safety features, and drivers who maintain their coverage.
Remember, it never hurts to shop around for new car insurance if you’re paying too much. Now that you know what companies provide cheap car insurance in Florida, you can decide which provider is right for you.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
