Cheapest Car Insurance in Florida: 2023 Rates and Companies – MarketWatch

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Car insurance is expensive in Florida, but you can find affordable auto coverage rates from State Farm, Geico, Travelers, Farmers and ProgressiveWhite Shield Icon Secure. Fast. Free.
Daniel is a MarketWatch Guides team writer and has written for numerous automotive news sites and marketing firms across the U.S., U.K., and Australia, specializing in auto finance and car care topics. Daniel is a MarketWatch Guides team authority on auto insurance, loans, warranty options, auto services and more.
Rashawn Mitchner is a MarketWatch Guides team editor with over 10 years of experience covering personal finance and insurance topics.
We at the MarketWatch Guides team took an in-depth look at the cheapest car insurance in Florida. When selecting the best car insurance companies for Florida drivers, we considered coverage options, affordability and financial strength.
In this article, you’ll find average costs for drivers based on a variety of factors, including their ages, cities and driving records. We’ll also provide information on state minimums and laws surrounding auto insurance in Florida.
Key Takeaways:
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The MarketWatch Guides Team is committed to providing reliable information to help you make the best decision possible about insuring your vehicle. Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. After 800 hours of research, the end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Learn more about our methodology and editorial guidelines.
Car insurance in Florida is among the most expensive in the nation, making the need to find the right insurer that much greater. We found average rates for full-coverage auto insurance as cheap as $151 per month or $1,813 per year.
Below, we’ll look at the cheapest car insurance companies and the coverage options each offers in the state of Florida. Our data on insurance rates comes from Quadrant Information Services.
The cheapest car insurance companies in Florida include State Farm, Geico, Travelers, Farmers and Progressive. Below, we listed our top picks for cheap Florida car insurance and our ratings for each company’s cost and overall quality.
*Our research team considers nationwide factors when scoring providers. The ranking of providers in this table is specific to car insurance in Florida.
Each car insurance company has different methods for determining your rate, so prices can vary. We recommend comparing quotes from auto insurance providers in Florida to ensure you get the best price possible.
Your rate will largely depend on the coverage level you choose. When you get quotes from providers, estimates are typically given for state-minimum coverage and fullcoverage car insurance. State-minimum coverage is all that’s required, but we recommend looking at fullcoverage options also.
In the tables below, we’ll outline the companies with the cheapest coverage for both liability and fullcoverage car insurance in Florida.
At rates of $54 per month or $650 per year on average, State Farm typically offers the cheapest liability car insurance in Florida. However, Geico, Travelers, Farmers and Mercury also offer some of the most affordable insurance rates. 
Below is a list of the average cheapest minimum coverage costs for Florida based on our research:
State Farm tends to offer the cheapest full coverage in Florida, costing an average of $151 per month or $1,813 per year. Geico is a close second, offering full-coverage policies at rates of $171 per month or $2,057 per year on average.
The table below shows the cheapest average rates for fullcoverage Florida auto insurance.
*These rates are based on a married 35-year-old driver with good credit and a clean driving history. Your rates will vary depending on a number of factors.
 
 
Your age, driving history and credit score are some of the biggest factors that affect the cost of car insurance. In the sections below, we’ll look at the cheapest car insurance in Florida for driver profiles based on these factors.
Young drivers tend to pay the most for car insurance coverage. The tables in these sections show the cheapest full-coverage car insurance options for Florida drivers aged 16 through 25. The ranking is based on each provider’s average rates in the state.
In Florida, 16-year-old drivers who just received their licenses can expect to pay more for car insurance policies. Our research found that State Farm and Geico tend to offer the cheapest rates on average for 16-year-old drivers in the state.
According to our research, Geico and State Farm tend to be the cheapest options on average for 17-year-old drivers looking to purchase full-coverage car insurance in Florida.
*Data taken from 2022 information
Eighteen-year-old Floridian drivers may find affordable coverage through Geico and State Farm. Our research shows Geico costs an average of $307 per month for this group, while State Farm prices average $339 for full-coverage car insurance for 18-year-olds.
*Data taken from 2022 information
Drivers in their 20s may find slightly cheaper car insurance rates than teen drivers. In the Sunshine State, Geico and State Farm provide the cheapest rates on average for 21-year-old drivers.
*Data taken from 2022 information.
Twenty-five-year-old drivers in Florida can generally find affordable car insurance coverage through Geico and State Farm. Our research shows State Farm costs $171 per month on average for these drivers, compared to Farmers at $185.
Drivers with a recent speeding ticket, accident or DUI conviction can pay considerably more for auto insurance. The sections below provide monthly and annual average rates for drivers who fall into one of these categories.
A speeding ticket can raise your auto insurance rate. The average rate for Florida drivers with a speeding ticket is $4,043 per year or $337 per month. State Farm offers the cheapest car insurance for Florida drivers with a speeding ticket, with an average fullcoverage cost of $1,939 per year or $162 per month.
Drivers with a recent accident on their record tend to pay much higher premiums than those with clean records. The average fullcoverage cost for Florida drivers with a recent at-fault accident is $4,608 per year or $384 per month.
State Farm offers the cheapest full coverage for drivers in Florida with a recent accident at an average of $2,075 per year or $173 per month.
If you have a DUI on your driving record, you’ll face much higher car insurance premiums. The average rate for a fullcoverage policy for Florida drivers with a DUI is $4,160 per year or $347 per month. State Farm offers the cheapest full coverage for drivers in Florida with a DUI at $1,939 per year or $162 per month on average.
Florida is one of many states in which insurers are allowed to use your credit score to help determine your rate. Drivers with poor credit typically pay much more for car insurance than those with good credit.
The average rate for a fullcoverage policy for Florida drivers with poor credit is $4,796 per year or $400 per month. National Generation Corp. offers the cheapest full coverage for drivers in Florida with poor credit at an average cost of $3,718 per year or $310 per month.
Auto insurance companies in Florida often provide several discount options for policyholders. The table below compares the car insurance discounts offered by some of the cheapest providers in the Sunshine State, which we’ll discuss in further detail below.
*These are the standard car insurance discounts offered by each company. Discount availability can vary by state, so you’ll need to speak with an insurance agent to find out which car insurance discounts you may qualify for.
As you’re shopping around for car insurance, look for providers that offer the best discounts for your situation. You can also speak with your insurance agent to see if there are any discounts you’re missing out on.
Here’s more information on the standard types of discounts offered by the best car insurance companies:
 
 
The cheapest car insurance companies in Florida include Geico, State Farm, Travelers, Farmers and Progressive. Below, we go into more detail about each company’s offerings, reputation, customer ratings and history.
J.D. Power regional rating: 812/1,000
AM Best financial strength rating: A++
Better Business Bureau rating: A+
Geico stands out from competitors due to its wide selection of car insurance discounts. These include significant savings opportunities for federal employees, accident-free drivers, students with good grades and more.
Geico also has a multi-policy discount, which means bundling auto insurance with homeowners or renters can save you money. For drivers in Florida, where coverage can be pricey, this may be a huge benefit for many.
Along with standard car insurance coverage, Geico offers add-ons such as emergency roadside assistance and rental reimbursement. It’s also one of the only top auto insurers to sell mechanical breakdown insurance (MBI), which acts like a car warranty and covers vehicle parts that malfunction.Pie chart that shows the satisfaction levels of Geico policyholders Read more: Geico insurance review
J.D. Power regional rating: 833/1,000
AM Best financial strength rating: A++
BBB rating: B
State Farm has the cheapest average rates for high-risk drivers in Florida. Our research found that it tended to be the most affordable option for people with a speeding ticket, DUI or recent accident on their driving record.
The company also offers young drivers (another high-risk group) a few opportunities to save money on coverage. State Farm has a safe driving program for people under the age of 25 called Steer Clear®. The program includes courses and driving practice to help young drivers earn discounts on their auto premiums.
Drivers can also save with State Farm’s Drive Safe & Save™, a telematics insurance program that may reduce a policyholder’s premium based on the driving behaviors it monitors.Pie chart that shows the satisfaction levels of State Farm policyholders Read more: State Farm insurance review
J.D. Power regional rating: 798/1,000
AM Best financial strength rating: A++
BBB rating: A
Travelers doesn’t just offer some of the cheapest car insurance in Florida. It also stands out from its competition because of its extensive coverage options. Like most insurers, Travelers offers the six standard types of car insurance that can be part of a full-coverage policy. It also offers the following insurance products as add-ons:
Travelers also has an option for named non-owner car insurance, which provides liability coverage for people who drive frequently but don’t own cars. It’s ideal for people who borrow vehicles, use rental cars often or drive a company car for work and personal use.
Read more: Travelers insurance review
J.D. Power regional rating: 777
AM Best financial strength rating: A
BBB rating: Not available at time of publication
Farmers is another good choice for Florida drivers looking for affordable auto insurance. Unlike most telematics programs, Farmers’ Signal® has a potential perk that goes beyond a discount. If you get a score of at least 80% for focused driving every month — meaning you maintain good driving habits — you’re automatically entered into a drawing to win up to $100 in rewards.
The Signal® mobile app also offers CrashAssist, an optional feature that uses your phone’s sensors to detect when a collision occurs. If you’ve been in a car accident, CrashAssist can notify emergency services, help you secure roadside assistance and share your location with family and friends.
Read more: Farmers insurance review
J.D. Power regional rating: 801/1,000
AM Best financial strength rating: A+
BBB rating: A
If you’re a high-risk driver (such as a driver under the age of 25 or someone with a DUI/DWI or recent accident on your driving record) — Progressive can likely offer you lower car insurance rates than a number of the major providers in Florida.
Progressive also offers several optional auto insurance coverages, including:
Read more: Progressive insurance review
 
 

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The average rate for a fullcoverage auto policy in Florida is $2,947 per year or $246 per month. That’s 70% higher than the national average cost of $1,730 per year or $144 per month. Minimum coverage in Florida averages around $1,343 per year or $112 per month, which is about 111% higher than the national average of $635 per year or $53 per monthU.S. map showing the average annual cost of full-coverage car insurance in each state However, your rate will vary based on factors including your age and the city you live in. We’ll further break down how those factors impact your auto coverage costs below.
Young Florida drivers pay substantially more for car insurance coverage than older drivers in their mid-20s and 30s, according to our research. Sixteen-year-olds in Florida pay an average monthly rate of $1,011 for full coverage, while 55-year-olds in the state pay $226 per month on average.
*Data for 17, 18, 19, 21, 65 and 75-year-olds taken from 2022 data.
Where you live within Florida factors into your car insurance premium as well. Insurers adjust their rates based on risk factors in different areas. Typically, drivers in cities like Miami and Tampa pay more for coverage than drivers in more rural parts of the state.
The table below shows the average rates for 25 cities in Florida, based on a married 35-year-old driver with good credit and a clean driving record.
*Average rates above apply to the top three companies in each city.
Insurers use a number of variables to calculate your premium. Here are the most significant factors for insurance providers in Florida:An image of a driving profile that shows details car insurance companies use to set premiums  
 
The required auto insurance in Florida includes PIP and property damage liability insurance. Florida is a no-fault state, meaning Florida drivers must file claims with their own insurance providers for injuries after an accident, regardless of who’s at fault. The state doesn’t require bodily injury liability insurance, which covers other parties’ medical expenses, funeral expenses and lost wages if you cause an accident. 
The minimum Florida car insurance coverage requirements under state law are as follows:
PIP insurance covers medical bills, lost wages and death benefits for you and your passengers, regardless of who’s at fault for an accident. Property damage liability coverage pays for other vehicles involved in a collision if you’re at fault.

We typically recommend carrying more auto insurance than the state minimum coverage. Though the premium may be burdensome, having full coverage with higher coverage limits can save you money in the long run. Look into collision coverage and comprehensive coverage, as well as underinsured and uninsured motorist coverage.
Driving a car without insurance is illegal in Florida, and the state has severe penalties for doing so. If you’re caught driving without the required insurance, the state can suspend your registration and driver’s license for up to three years. Getting these reinstated can cost up to $500, and Florida doesn’t have a temporary licensing program or make exceptions for hardships.
The safety of Florida roads also plays a role in auto insurance premiums. According to the Florida Department of Highway Safety and Motor Vehicles, there were 391,901 crashes in Florida in 2022. Out of those collisions, 3,490 were fatal.
Florida also has an older population than many states, making car accidents with elderly drivers more likely.
We recommend reaching out to Geico, State Farm and Travelers for car insurance quotes if you’re a Florida driver. Farmers and Progressive can also be good options.
It’s best to get more than one auto insurance quote. With multiple quotes, you can effectively compare coverage and costs to see which company offers the most affordable car insurance rates for you.
 
 
In this article, we explored options for the cheapest car insurance in Florida. We’ve gone over average costs, minimum coverage requirements and some of the best companies for auto insurance in the state. We recommend getting quotes from multiple providers to make sure you get the best car insurance coverage for your situation.

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Below are some frequently asked questions about cheap car insurance in Florida:
Based on data from Quadrant Information Services, we found that a full-coverage policy in Florida costs an average of $270 per month. Floridians who opt to only carry the state’s minimum coverage pay $115 per month on average. These rates apply to the profile of a married 35-year-old with a good driving record and good credit.
Car insurance in Florida costs an average of $3,244 per year for full coverage and $1,385 for minimum liability coverage. However, your rate will be determined by factors including your age, driving record and credit score and the city you live in.
According to data from Quadrant Information Services, Geico tends to have cheaper car insurance policies than Progressive. However, insurance rates are highly personalized, so while Geico may be cheaper than Progressive on average, you may find Progressive to be a cheaper option based on your driving profile.
Yes, since Florida is a no-fault state, drivers are required to carry at least $10,000 in PIP coverage.
Most forms of insurance follow the car in Florida. However, the required PIP coverage follows the driver and not the car in the state.
In Florida, license plates belong to the state, so you must return yours when you cancel your insurance. Failure to do so could result in your license being suspended.
Car insurance is very expensive in Florida due to a variety of reasons that include the state’s no-fault auto insurance laws, environmental factors, weather risks and driver profiles. About 20% of Florida’s drivers were uninsured in 2019, according to the Insurance Research Council. This makes coverage more expensive for Floridians who do buy insurance.
 
 
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
Our credentials:
**Data accurate at time of publication.
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