It’s not always easy to find the most affordable car insurance in Florida. Rates for the very same policy can differ wildly from one company to the next, and based on personal factors such as your age and credit history.
To help simplify things, NerdWallet researched rates from the seven largest insurers in Florida and found the three cheapest options for a variety of driver types:
- Good drivers
- Young drivers
- Families with a teen driver
- Drivers with poor credit
- Drivers with one at-fault accident
- Retired drivers
Cheapest for good drivers
For drivers with no at-fault accidents, DUIs or moving violations; range of average prices: $1,155 to $6,010
price
- $1,155/year
price
- $1,803/year
price
- $1,989/year
Florida is a “no-fault” state, meaning insurers often pay more in injury claims here than they do in other states. This partly explains why it has some of the most expensive car insurance. The average for good drivers among the three cheapest options was $1,649 per year. USAA notched an estimate well below that average, $1,155 a year, but the company is open only to active or retired military and their families. Alas, the price from the next closest competitor, Geico, was a fairly steep increase: $54 a month more. Safe motorists in Florida should look for discounts to trim costs, such as those for going claim free, avoiding moving violations or taking a defensive driving course.
Cheapest for young drivers
For drivers in their early 20s; range of average prices: $771 to $3,714
price
- $771/year
price
- $1,242/year
price
- $1,694/year
Drivers in their early 20s tend to have fewer assets to protect than older motorists and no family members on their policy. Thus they can often get by with leaner coverage and score comparatively cheap car insurance in Florida. For those who qualify, the military-affiliated USAA had by far the lowest rates at $771 a year. Again, Geico was the cheapest among insurance companies open to all drivers.
Cheapest for families with a teen driver
For middle-aged couples with one teen driver; range of average prices: $1,412 to $19,487
price
- $1,412/year
price
- $3,075/year
price
- $4,494/year
Teen drivers bring major accident risk, which usually translates to higher-than-average car insurance rates for their parents. That said, there’s still plenty of room to save by shopping around. This category had the largest range of average prices of any we tested — over $19,000 between lowest and highest — proving parents with a teen stand to get a much better deal by comparing as many estimates as possible rather than settling for just one or two car insurance quotes.
Cheapest for drivers with poor credit
For drivers placed in the lowest credit tier as determined by the industry; range of average prices: $1,155 to $7,023
price
- $1,155/year
price
- $1,803/year
price
- $2,951/year
Because a driver’s credit rating can be an indicator of the likelihood of future claims, insurers may use it as one of the factors when determining rates. Florida drivers with poor credit, however, may not be penalized as much as drivers in other states. In fact, the two cheapest companies for this category — USAA and Geico — returned sample quotes identical to those for good drivers with no credit issues.
Cheapest for drivers with one at-fault accident
Range of average prices: $1,482 to $8,819
price
- $1,482/year
price
- $2,339/year
price
- $2,587/year
USAA had by far the lowest estimate for drivers with an at-fault accident on their record. But again, only active or retired military and their families qualify. State Farm and Geico were the next closest competitors, although they quoted rates of roughly $1,000 more a year. Geico, despite being pricier, offers an accident forgiveness feature that may keep rates from climbing after your first at-fault incident with the company, which could help make up for the added premium.
Cheapest for retired drivers
For drivers in their mid- to late 60s who no longer use their car for commuting; range of average prices: $1,001 to $5,512
price
- $1,001/year
price
- $1,381/year
price
- $1,490/year
Retired drivers typically travel fewer annual miles than their working, commuting counterparts — and can get relatively cheap car insurance in Florida as a result. These motorists can also look for discounts targeted at mature drivers to cut costs even more. Geico also offers a unique, automatically renewable contract to certain drivers over 50 years old, which could provide peace of mind to customers worried about maintaining their coverage as they age.
Minimum car insurance requirements in Florida
Floridians must carry personal injury protection (PIP) and property damage liability coverage in the following amounts:
- $10,000 PIP
- $10,000 property damage liability per accident
Though this will be enough to drive legally, experts recommend getting more than the bare minimum. You may also want added protection from optional coverages such as collision and comprehensive. Florida also has one of the highest rates for uninsured drivers of any state, which could make uninsured motorist coverage a worthy addition as well.
Check out NerdWallet’s guide to understanding state car insurance requirements for more details on coverages you may want on your Florida auto policy.
High-risk auto insurance in Florida
Sunshine State drivers who’ve been denied traditional car insurance, or can only get sky-high rates due to a spotty driving history or other factors, may want to consider high-risk auto coverage.
Check out our list of insurance companies who serve nonstandard drivers for help getting the coverage you need to drive legally in Florida.
Shoppers can also use NerdWallet’s anonymous car insurance comparison tool to view estimates from top insurers side-by-side and possibly save hundreds.
METHODOLOGY
For most categories, NerdWallet averaged rates from the largest insurers for 30-year-old men and women in 10 ZIP codes and with 100/300/50 liability insurance limits, 100/300 uninsured motorist coverage limits and $10,000 personal injury protection. We used a 2012 Toyota Camry in all cases.
To test rates for families with teen drivers, we requested quotes for a 46-year-old female and 47-year-old male with a 16-year-old son. Our sample retired driver was 67 and drove 50% fewer annual miles than other groups. Our sample young driver was 22 and carried the minimum required coverage. These are sample rates — your own rates will differ.
Alex Glenn is a staff writer for NerdWallet, a personal finance website. Email: aglenn@nerdwallet.com
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