Average cost of auto insurance in Florida (2021 rates)

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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 per year for full coverage and $ 1,101 per year for minimum coverage auto insurance.

There are several reasons behind the high cost. In 2019, Florida had nearly 15.6 million licensed drivers, according to the Insurance Information Institute. Combine that with the tourists crossing the state and Florida has some very busy roads.

If you purchase auto insurance in Florida, you should know the average cost of insurance in your state. Bankrate used Quadrant Information Services to get information on current premiums, then analyzed the numbers by company, city, age, and driving history. Having this information available when researching auto insurance in Florida could allow you to make a more informed decision when choosing a company.

How Much Does Auto Insurance Cost in Florida?

Florida drivers pay an average of $ 2,364 per year for full coverage and $ 1,101 per year for minimum coverage auto insurance. Drivers in Florida pay a little more than the national average annual premiums, which are $ 1,674 for full coverage and $ 565 for minimum coverage. The Sunshine State is one of the most expensive states in the country for auto insurance.

Auto insurance companies use many factors to determine your premium, including your age, driving record, geographic location, and the type of vehicle you drive. Since these factors vary from person to person, premiums will also vary.

Florida Auto Insurance Rates by Company

Each auto insurance company in Florida has its own rating system. If you are shopping for insurance, it is generally recommended that you get quotes from several insurers to compare them. To give you an idea of ​​what you might expect to pay for auto insurance in Florida, below are the average annual premiums for minimum coverage and full coverage for some of the largest insurance companies in the world. State.

While finding the cheapest auto insurance in Florida can be a priority for many people, keep in mind that insurance is more than the price. You can also compare coverage offers, discounts, customer service ratings, and financial strength when choosing an insurance company.

Cost of living in Florida and auto insurance

When shopping for the best Florida auto insurance rates, it’s important to factor in your other expenses so that you look at your total cost of living. The chart below shows the average annual cost of living in Florida, including the average cost of auto insurance. Use this chart as a guide to help you determine your overall spending so you can decide which insurance rates are within your budget.

Florida Auto Insurance Rates by City

In a state, your zip code has more influence on the premium you will pay for auto insurance. Although auto insurance is generally expensive in Florida, the following table shows that your rates can be higher or lower than average depending on the city in which you live. Fares vary by city depending on population density, volume of traffic and vulnerability to theft, among other factors.

City Average annual premium for full coverage Percentage difference of the average annual premium
Jacksonville $ 2,230 -6%
Miami $ 3,314 40%
Orlando $ 2,405 2%
Tampa $ 3,027 28%
Tallahassee $ 2,043 -14%
Saint PETERSBOURG $ 2,662 13%
Hialeah $ 3,405 44%
Naples $ 1,947 -18%
Palme West Beach $ 3,101 31%
Ocala $ 1,993 -16%
Boca Raton $ 3,057 29%
Gainesville $ 1,782 -25%
Land of lakes $ 2,237 -5%
Port Saint Lucia $ 2,300 -3%
Fort Lauderdale $ 2,973 26%
Bradenton $ 2,153 -9%
Pembroke pines $ 2,912 23%
Cap Corail $ 2,014 -15%
Boynton Beach $ 3,338 41%
The value of the lake $ 3,134 33%

Auto insurance premiums can also vary by zip code, so your premiums may be higher or lower than the city average premiums listed above depending on your specific location in a city. Relocating is not the most convenient way to change your auto insurance premium, but if you are already planning to relocate, you may want to factor in the average premiums for your desired region when analyzing your new one. budget.

Florida Auto Insurance Rates by Age

Age is another factor that insurance companies use to determine your premium. Young drivers, especially those under 25, are usually charged higher premiums because they are inexperienced and more likely to have accidents based on actuarial data.

* 16 years on their parents’ policy

As the table above shows, teenage drivers pay some of the highest premiums. As drivers gain more experience, their average premiums gradually decline. Premiums typically increase again at age 70, as older drivers may be at a higher than average risk of an accident.

Auto insurance rates in Florida by driving record

One of the main factors affecting your auto insurance premiums is your driving history. If you have accidents, speeding tickets, or a DUI on your record, your insurance premiums will likely be increased accordingly. The following table shows how much you can expect to pay in Florida if you have incidents on your driving record.

Driving incident Florida Average Annual Full Coverage Premium % increase in average annual premium
Speeding $ 2,694 14%
Accident $ 3,169 34%
DUI $ 3,503 48%

Tickets, accidents and DUIs typically impact your auto insurance premiums for three to five years, depending on your insurance company. If you are unsure how long a supplement can stay on your policy, you can call your insurance provider to find out.

How To Save On Auto Insurance In Florida

While Florida auto insurance premiums are higher than average, there are ways to find cheaper auto coverage. In Florida, you may be able to save on your auto insurance rates by:

  • Shop: Each insurance company offers different rates. Therefore, getting quotes from multiple companies can help you find the coverage you need at the best price.
  • Benefit from discounts: Most insurance companies offer discounts to help policyholders lower their premiums. You may be able to save by opting, for example, for a dematerialized statement or by having an anti-theft device on your vehicle.
  • Usage Based Insurance: Pay per kilometer and telematics are programs that offer drivers the possibility of having bonuses tailored to their individual driving habits. In their simplest form, pay-per-kilometer programs track kilometers driven, typically offering those who drive less than average a lower rate. But a growing number of insurers are offering more complex programs, called telematics, which take driving behavior into account.
  • Maintain a good driving record: Since incidents on your driving record tend to increase your premiums, having a clean driving record can save you money on your auto insurance.
  • Group your fonts: Combining your auto insurance with other policies, such as a home insurance policy, from the same insurer could save you money on both policies.
  • Increase your deductibles: A deductible is the amount you pay out of pocket after an accident for damage to your vehicle. If you have full coverage, you have two deductibles: one for collisions and one for comprehensive. As a general rule, the higher your deductibles, the lower your annual premium. However, be sure to choose a deductible level that you feel comfortable paying in the event of an accident.

Frequently Asked Questions

What is the best auto insurance company in Florida?

Each driver brings a unique set of circumstances to their auto insurance search, so the best auto insurance company will be different for everyone. It can help to determine the factors that matter most to you, such as a low premium or a mobile app. Once you know what to expect from an insurance company, you can get multiple quotes to help you find the coverage you need competitively priced.

What insurance do you need in Florida?

Like most states, Florida requires drivers to have at least a minimum level of certain auto insurance coverage to legally drive. All Florida motorists are required to carry at least:

  • $ 10,000 in property damage coverage
  • $ 10,000 Injury Protection Coverage (PIP)

Florida does not technically require you to purchase personal injury insurance (proof of a bond, for example, might meet “financial liability law,” but you may only qualify if your net worth is. equal to or greater than $ 40,000), but most drivers will likely meet the requirements by obtaining insurance coverage. If you purchase personal injury coverage, you must purchase at least the following limits:

  • $ 10,000 personal injury coverage per person
  • $ 20,000 in accidental bodily injury coverage

Coverage for uninsured motorists must be offered but may be refused in writing.

You may want to consider higher liability limits or comprehensive coverage to better protect yourself in the event of an accident.

How to get cheaper auto insurance in Florida?

Most insurance companies in Florida offer discounts to help lower the cost of your policy. Getting as many discounts as possible, keeping a clean driving record, and bundling multiple policies from the same insurer are some of the best ways to save money on auto insurance.

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record , good credit and the following comprehensive coverage limits:

  • $ 100,000 liability for bodily injury per person
  • $ 300,000 in civil liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.


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