How you can save money on car insurance in the Sunshine State
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There are many great things about living in Florida, from the year-round sunshine to the cities, beaches, and Cuban food galore. However, one thing that’s not so great about living in Florida is the cost of car insurance. Florida ranks as the fifth most expensive state for car insurance, with rates 24 percent higher than the national average. That’s why we’re showing you how to find affordable auto coverage in Florida.
There are no one-size-fits-all providers in Florida for minimum or full coverage car insurance. The cheapest auto insurance will depend on your circumstances, the coverage limits you select, and your ZIP code. Compare quotes from multiple providers to find accurate average premiums.
USAA is the cheapest option for both full coverage and minimum coverage, with prices as low as $940 and $406 per year, respectively.
If you have a clean driving record, look to GEICO for annual premiums as low as $300. Good drivers pay less for insurance than drivers with tickets and DUIs, as they’re less likely to file claims.
USAA is the best option for someone with good or excellent credit, with annual rates of $1,030 and $756 respectively.
No matter what age you are, GEICO offers some of the lowest rates around. Of course, expect to pay more for teen drivers and older adults, and less for middle-aged drivers.
Age | Annual rate from GEICO |
---|---|
16 | $2,965 |
17 | $2,965 |
18 | $2,776 |
19 | $2,457 |
20s | $1,274 |
30s | $766 |
40s | $704 |
50s | $674 |
60s | $640 |
70s | $1,259 |
80s and above | $1,740 |
USAA is the cheapest provider for current military personnel and veterans, with annual rates of $406.
Got hitched? Save money with AssuranceAmerica, which offers auto insurance for $972. Single people will pay more but can save money by using Dairyland as their provider, with annual rates of $1,092.
On average, men in Florida actually pay less than women for car insurance. Dairyland, for example, offers men annual rates of $1,032 and women annual rates of $1,128. However, male teens will pay more. The lowest annual rates we’ve come across for teenagers of both sexes are from State Farm – $2,202 for male teens and $2,019 for female teens.
Learn more about the factors that affect car insurance rates for liability insurance and beyond.
Florida’s minimum coverage is not nearly enough to protect you financially. If you cause more than $10,000 of property damage or medical payments in an accident, you’ll have to pay out of pocket for any amount over $10,000. Since Florida is a no-fault state, if you cause an accident, you’ll be responsible for all of the property damage as well as any resulting medical costs, lost wages, and child care costs.
We recommend buying more liability coverage — up to $500,000 if you have a high net worth. We also recommend adding some supplemental coverages.
The threshold for a civil suit in Florida is permanent injury or significant/permanent scarring or disfigurement. There is no monetary threshold.
It’s possible to insure yourself in Florida, but most people won’t be able to swing it financially. Here’s the unencumbered net worth you’ll need to qualify:
Many insurers don’t want to cover high-risk drivers, such as those who have a DUI conviction and have to file an FR-44, a certificate that proves you have more liability coverage than the minimum ($100,000/$300,000, to be exact).
If you can’t find coverage, the state can connect you to a provider that will cover you under the Florida Automobile Joint Underwriting Association (FAJUA). In fact, every licensed insurer in the state is part of this association. Find a provider at https://www.aipso.com/Find-a-Producer/ST/FL or ask questions about the program at https://fajua.org/ask3.
The FAJUA program is also known as the “High-Risk Market” and “Market of Last Resort.”
You will need your driver’s license number, Social Security number, and car title or VIN when speaking to the department.
While affordable car insurance may not be Florida’s strong suit, you can find something within your budget if you shop the entire market. Learn more about auto insurance in Florida in general, from its no-fault system to its total loss threshold, or read the frequently asked questions below to learn more about ways to save specifically.
Car insurance in Florida is an average of $114 per month, according to the latest 2020 data from the National Association of Insurance Commissioners. That breaks down to $81 for liability coverage, $27 for collision coverage, and $13 for comprehensive insurance.
The ZIP code in Florida with the cheapest car insurance is 32612 in Gainesville. The average annual rate there is $1,658, while the lowest rate available is $862.
Florida does not require stacked insurance, which applies to uninsured motorist coverage. However, you can stack coverage if you have uninsured motorist coverage on multiple vehicles, getting a higher limit by multiplying the limit per car by the number of cars.
If someone hits your parked car in Florida, you could be reimbursed for your injuries and property damages if you have uninsured motorist coverage, according to the Florida Department of Highway Safety and Motor Vehicles. Uninsured motorist coverage includes hit-and-runs. However, uninsured motorist coverage isn’t required in Florida, so if you didn’t add it on, you’d have to pay for your losses out of pocket.
One in Eight Drivers Uninsured. Insurance Research Council. (2021, Mar). https://www.insurance-research.org/sites/default/files/downloads/UM%20NR%20032221.pdf
The 2021 Florida Statutes. Online Sunshine. (2022). http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0300-0399/0324/Sections/0324.171.html
CLAIMS. Fajua. (2022). https://fajua.org/