When it comes to auto insurance, Florida is one of the most expensive states in the country. Drivers in the Sunshine State pay an average of $2,364 a year for full coverage, according to Bankrate’s 2021 study of average annual full coverage auto insurance rates from Quadrant Information Services. how much does car insurance cost in florida per month? for full coverage, drivers pay an average of about $197 each month. To ensure this information is as accurate as possible, we collect rates from 920 Florida zip codes.
The national average premium is $1,674 per year for full coverage, which means Florida drivers pay nearly $700 more per year, on average, than drivers nationwide. Bankrate research can help you understand the average car insurance rates in Florida, as well as the factors that affect your car insurance premium. This information could help you make a more informed decision when choosing an auto insurance company.
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how much does auto insurance cost in florida?
Florida drivers pay an average of $2,364 a year for comprehensive coverage, which is 41% more than the annual national average of $1,674. however, your cost will depend on a number of qualifying factors, including where you live in the state and the types and levels of coverage you choose. Bankrate found that larger cities and coastal areas tended to pay higher average premiums due to higher accident risk and higher cost of living. Plus, choosing higher levels of coverage or adding optional endorsements will likely increase your premium.
auto insurance rates in florida
auto insurance rates in florida by city
Your ZIP code influences the premium you’ll pay for car insurance due to the higher frequency of accidents and higher crime rates in larger cities, according to the Insurance Information Institute (Triple-I). Although auto insurance is generally expensive in Florida, the table below demonstrates that your rates may be higher or lower than average depending on where you live in the Sunshine State. Average Florida auto insurance rates change by city based on population density, traffic volume, accident frequency, and vulnerability to theft and vandalism, among other factors, according to the Triple-I.
Your premiums may be higher or lower than the city average premiums listed above based on your specific location within a city, as well as other individual qualifying factors. Moving to a different ZIP code isn’t the most practical way to change your car insurance premium, but if you’re already considering a move, you may want to consider the average premiums for your desired area when looking at your budget.
auto insurance rates in florida by company
The best auto insurance companies in Florida have their own unique underwriting standards, coverage offerings, discounts, and policy features. To give you an idea of what you could expect to pay for auto insurance in Florida, below are the average annual premiums for full coverage from some of the largest insurance companies by market share in the state.
While finding the cheapest auto insurance in Florida may be a priority for many drivers, keep in mind that having adequate coverage is about more than just price. You may also want to compare coverage offers, discounts, customer service scores, and financial strength ratings when choosing an insurance company.
cost of living in florida and auto insurance
When searching for the best auto insurance rates in Florida, it’s important to consider your other expenses so you’re considering your total cost of living. The chart below shows the average annual cost of living in Florida, including average rates for auto insurance. use this data as a guide to help you determine your overall expenses so you can decide what insurance rates fit your budget.
auto insurance rates in florida by age
Age is another factor insurance companies use to determine your premium in Florida. Younger drivers, particularly those under 25, are typically charged significantly higher premiums because they are inexperienced and more likely to have accidents based on actuarial data.
*16 years of age calculated based on parental policy disclosure; 18 and 20 years old are renters
As the chart above demonstrates, teen drivers pay some of the highest premiums in the Sunshine State. As drivers become more experienced, their average premiums gradually decline. premiums typically go up again at age 70, as older drivers may have a higher-than-average risk of accidents.
auto insurance rates in florida by gender
Gender is another factor that affects your Florida auto insurance premiums. At most ages, men tend to pay more than women due to their higher frequency of accidents and risky driving behaviors. however, for florida drivers age 40 (which is the age used in bankrate’s base driver profile), women pay slightly more than men for full coverage.
car insurance in florida by credit score
Your credit rating is a qualifying factor in determining auto insurance prices. As strange as it may sound, credit scores affect auto insurance rates because lower credit-based insurance scores are generally linked with a higher likelihood of filing claims. In Florida, drivers with poor credit pay an average of 169% more for full coverage than drivers with excellent credit.
florida car insurance rates by driving record
One of the biggest factors affecting your auto insurance premiums is your driving record. If you have an at-fault accident, ticket, or DUI conviction on your motor vehicle record (MVR), your insurance premiums will likely increase accordingly. This is because auto insurance rates are based on risk. a previous history of risky driving means you are more likely to have accidents (and therefore file claims) in the future. If you have multiple accidents, tickets, or a DUI conviction, you may even need high-risk driver auto insurance in Florida. The table below shows how much you can expect to pay in Florida if you have incidents on your MVR.
Ties, accidents, and DUIs will generally have a negative impact on your car insurance premiums for three to five years, depending on your insurance company. If you’re not sure how long a surcharge can stay on your policy, you can call your insurance agent or provider to find out.
car insurance rates in florida by type of vehicle
One of the most important factors in determining your auto insurance rates is the make and model of the vehicle you drive. Different types of vehicles have different safety features, different crash ratings, and different parts and labor costs. The type of vehicle you drive can also affect the amount of coverage and the types of coverage you choose.
frequently asked questions
what is the best auto insurance company in florida?
Every driver brings a unique set of circumstances to their search for auto insurance, so the best auto insurance company will be different for everyone. it may be worth determining which factors are most important to you, such as having a low premium or a mobile app. once you know what you want from an insurance company, you can get multiple quotes to help you find the coverage you need at a competitive price.
what is the average cost of minimum coverage in florida?
Owning an auto policy with the state-required minimum coverage limits in Florida costs an average of $1,101 per year, nearly double the national average of $565 per year. minimum coverage may be the cheapest auto insurance option in florida. however, most insurance professionals recommend that you purchase higher levels of coverage for greater financial protection.
how much insurance is required in florida?
Like most states, Florida requires drivers to have a minimum level of certain types of auto insurance coverage to drive legally. All Florida motorists must carry at least:
- $10,000 in property damage coverage
- $10,000 in personal injury protection (pip) coverage
Florida does not technically require you to have insurance for bodily injury coverage. showing proof of a bond, for example, might satisfy the state’s “financial responsibility law.” however, you can only qualify if your net worth is equal to or greater than $40,000. still, most drivers will probably qualify by getting insurance coverage. If you purchase bodily injury coverage, you must have the following minimum limits:
- $10,000 bodily injury coverage per person
- $20,000 bodily injury coverage per accident
Uninsured/underinsured motorist coverage must be offered to Florida drivers, but can be refused in writing. however, with the state’s estimated 20.4% uninsured motorist rate, one of the highest in the us. uu. According to Triple-I, you may want to consider including this coverage in your policy.
You may want to consider higher liability limits or full coverage to better protect yourself in the event of an accident. Full coverage, which includes collision coverage and comprehensive coverage, is not required by law, but will likely be required if you have a loan or lease.
bankrate uses quadrant information services to analyze 2021 rates for all zip codes and carriers in all 50 states and washington, d.c. Rates quoted are based on a 40-year-old male and female driver with a clean driving record, good credit, and the following total coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury liability per person
- $300,000 uninsured motorist bodily injury per accident
- $500 deductible per collision
- $500 comprehensive deductible
To determine the minimum coverage limits, Bankrate used a minimum coverage that meets each state’s requirements. our base drivers own a 2019 toyota camry, commute five days a week and drive 12,000 miles a year.
These are sample rates and should only be used for comparison purposes.
age: rates were calculated by evaluating our base profile with ages 18-60 (base: 40 years) applied. Depending on age, drivers may be renters or owners. for teens, rates were determined by adding a 16- or 17-year-old teen to a 40-year-old married couple’s policy. the rates shown reflect the additional cost to the parent’s policy. California, Hawaii, and Massachusetts prohibit insurers from using age as a rating factor.
Gender: Seven states prohibit insurers from using gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, Pennsylvania.
Credit: Rates were calculated based on the following insurance credit levels assigned to our drivers: “Poor, Average, Good (Base), and Excellent.” Insurance credit levels take into account your official credit scores, but don’t depend on that variable alone. Four states do not allow insurers to use credit as a factor in determining auto insurance rates: California, Hawaii, Massachusetts, Michigan.
incident: rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single driving conviction under the influence of alcohol and expiration of coverage.