Since, as of 2019, the Insurance Research Council estimates that almost one in five drivers does not have auto insurance, you should get some before hitting the roads of Florida.
Yet, obtaining low-cost vehicle insurance in Florida is not always straightforward. According to research, Florida has the second most expensive full coverage premiums on average in the United States.
Continue reading to discover the lowest auto insurance in Florida based on age, driving record, and state-mandated minimums. This list also compiles a list of the top Florida automobile insurance providers for your consideration.
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1. Cheapest for Teens And Their Families
In Florida, the following businesses typically provide teen drivers on a parent’s policy with the most affordable vehicle insurance:
Nationwide: $3,267 annually for male adolescents and $2,896 annually for female adolescents.
State Farm: Teenage males pay an average of $3,955, while females spend an average of $3,214 annually.
Auto insurance rates go down dramatically as teenagers get older. Nationwide offers the most affordable auto insurance policy for 19-year-old guys in Florida at $2,795 annually.
In contrast, Farmers has the highest average premiums for male teens at $5,063, while Progressive has the highest premiums for female teens at $5.035. These costs apply to 16-year-olds included in their parent’s coverage.
Adding an adolescent to your existing insurance is typically considerably more cost-effective than purchasing new coverage only for them. The average annual premium for a 16-year-old in Florida is $9,389. This is $4,940 more than the average premium of $4,449 for a child to be added to a parent’s coverage.
2. Best For Drivers Aged 20
Finding the finest affordable auto insurance may require drivers in their 20s to compare numerous estimates. Costs might be high for younger drivers in their 20s, but they often decline as they get more driving experience. Yet, some insurance providers consistently offer better prices for young drivers, so it is prudent to check around.
Least expensive full coverage auto insurance for 20-year-olds in Florida
If you’re a safe driver in Florida, you might want to look into the following firms, as they have lower average rates than others:
- State Farm: $3,986 annually, or around $332 per month.
- Geico: $4,158/year, or $346/month.
Florida drivers under the age of 20 can get affordable minimum-coverage policies.
If you are a Florida driver looking for the most affordable options for the minimum required car insurance, consider the following firms.
- Geico: $780 per year, or approximately $65 each month.
- Travelers: $902 yearly or $75 monthly.
3. Best For Drivers Aged 30
Most drivers will see their auto insurance prices decrease from their teenage and early adult years to their thirties. Yet, factors such as a driver’s driving record and the type and model of their vehicle might increase premiums. Those in their thirties can save on auto insurance by comparing quotes and taking advantage of discounts.
The most affordable comprehensive auto insurance policy in Florida for drivers aged 30.
Consider these firms if you’re a Floridian driver looking for the least expensive options for meeting the state’s minimum insurance requirements.
- State Farm: $1,757 per year, or roughly $146 monthly.
- Geico: The annual cost is around $208 monthly, or $2,493.
Florida drivers under 30 get the best rates on bare-bones coverage policies.
Drivers in Florida seeking the state’s required coverage should contact the providers with the lowest average rates:
- State Farm: $346 annually, or roughly $29 per month.
- Geico: $520 per year, or around $43 each month.
4. Best For Drivers With Previous Incidents
State Farm and Geico offer the most competitive rates regarding auto insurance for high-risk drivers in Florida. Those who have been in accidents or gotten traffic tickets or DUIs in Florida can expect their auto insurance rates to increase.
5. Best For Drivers With a Speeding Ticket
Those previously pulled over for speeding might save the most money on their auto insurance by switching to State Farm. State Farm’s premiums for drivers who have received a ticket are 52% less expensive than the state average, at just $136 monthly for full coverage.
Geico also boasts low rates for drivers who have received a speeding ticket, albeit their rates are $84 per month higher than State Farm.
After a Road Accident
State Farm and Geico offer the lowest full-coverage auto insurance in Florida for drivers who have caused an accident, with monthly premiums lower than $200.
If you have had one accident, State Farm’s auto insurance policy will cost you $147 monthly, or 57% less than the national average. Geico’s monthly prices are 47% less than average, at $184.
6. Best For Drivers Aged 40
Drivers in their forties indeed pay less for car insurance than those in their twenties or thirties, but they still pay more than those in their sixties or seventies. The most effective strategy for locating more affordable vehicle insurance premiums is soliciting price estimates from many providers. Pay-per-mile insurance, which costs policyholders based on the yearly miles, could be a good option for safe drivers who don’t drive a lot.
Florida drivers aged 40 get the best rates on comprehensive vehicle insurance.
The following Florida car insurance providers have the lowest average rates, so they’re worth considering for safe drivers.
- State Farm: $1,710 annually, or around $142/month.
- Geico: $2,333 annually, or about $194 each month.
7. Best For Married Drivers
State Farm offers the most affordable Florida married drivers insurance policy at $127 monthly.
A prevalent trend in the auto insurance industry is a discount for married drivers compared to single drivers. You may need assistance here. Nevertheless, only some businesses offer the same price cut. Comparatively, State Farm’s prices for married drivers have not changed, while Progressive’s have dropped by $55 monthly.
Conclusion
A certificate of self-insurance will suffice to meet the state minimum insurance requirements for a vehicle in Florida. This implies you are responsible for any costs associated with a vehicular accident, including liability and medical care.
To be eligible for self-insurance in Florida, you must provide the relevant paperwork to the respective division of the Florida Highway Safety and Motor Vehicles.
This certificate must be renewed every year and requires the submission of an updated financial statement that has been notarized and a current list of all the automobiles you now possess.