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If you search online for the best car insurance in Florida, you’ll probably get results showing you the cheapest prices. Typically, the cheapest car insurance providers in the state are GEICO, Progressive, and State Farm. However, the cheapest rate doesn’t always mean you get the best deal. Other important factors you should consider include customer ratings and how easy the insurer makes it to file a claim.
What Is the Average Cost of Full Car Insurance in Florida
Value Penguin says that the average spent on full coverage car insurance is $3,230 per year, which breaks down to $269 per month. But drivers may find a better price by reviewing offers from several insurers.
One reason why the cost of insuring a vehicle in Florida is high is that it’s a no-fault state. This means that drivers have to pay their own expenses for an accident, whether or not they were at fault. According to The Zebra, other reasons why car insurance in Florida is expensive include:
- Bad weather, like hurricanes and storms, increases the likelihood of accidents.
- The state has the highest number of uninsured drivers in the country.
- Florida has the highest rate of careless driving accidents in the US.
- The state has a large elderly driver population.
What Are the Minimum Car Insurance Requirements in Florida
Drivers in Florida are required to carry both personal injury protection (PIP) and property damage liability. The minimum amounts of coverage are:
- Property damage liability: $10,000 per accident
- PIP: $10,000
Property damage liability covers damage a driver or another member of their household causes to another person’s property. PIP is also sometimes referred to as Florida no-fault insurance.
What Is Florida’s No-Fault Law?
The state’s no-fault law says that all drivers in an accident start by making claims to their own PIP. Payments from PIP coverage are limited to 80 percent of the bills. If someone suffers a serious injury under Florida law, the driver at fault for the accident can pay for additional costs through their bodily injury liability.
According to NerdWallet, serious injuries under Florida law include:
- Significant disfigurement
- Bone fracture
- Permanent limitation of an internal organ or body part
- Largely full disability for 90 days
- Substantial restriction of a bodily system or function
If a driver has an injury that meets one of these criteria, they can launch a lawsuit. If the at-fault driver has bodily injury liability, they can use it to pay for the associated costs. However, if they only have minimum coverage, they may have to cover the expenses themselves.
What Are the Top Car Insurance Companies in Florida?
According to Bankrate, some of the top car insurers in Florida are:
- State Farm
All State has a large selection of car insurance deals. Additionally, it excels due to its strong online presence, which includes helpful tools for insured drivers. The company provides customers with various ways for customers to reduce their premiums.
USAA scores strongly on customer satisfaction. However, it’s only available to current and former members of the military.
A major plus for Esurance is that it has an online system that allows you to sign up for insurance without speaking to an agent. Drivers who choose this route also can get a 5 percent discount.
GEICO was found to be the cheapest insurer in Florida in a survey performed for Value Penguin. The insurer also provides insurance for boats, RVs, motorcycles, and delivery vehicles. Although policies from Allstate cost more on average than those from GEICO, the Value Penguin survey shows that customers rated Allstate as having better products and services.
State Farm is a good option for younger, inexperienced drivers because it allows them to reduce their premiums by taking defensive driving courses. The company’s customers like its easy procedure for making a claim, according to the Better Business Bureau website.
What Is the Cheapest Full Coverage Car Insurance in Florida?
For drivers with a clean record, NerdWallet reports that the cheapest full coverage car insurance is provided by State Farm at $3,265 per year. Other cheap rates for full coverage include:
- GEICO: $3,560 per year
- Allstate: $4,170 per year
Direct Auto: $5,235 per year
MetLife: $5,699 per year
Overall, GEICO’s rates are 53 percent lower than the state average. This works out to $150 per month less in premiums than the average paid across Florida, according to Value Penguin. State Farm is just $31 per month more expensive than GEICO. However, customers who use GEICO for their home insurance may be able to save more by selecting it for their car as well.
What Is the Cheapest Minimum Coverage Car Insurance in Florida?
GEICO offers the cheapest minimum coverage insurance at $757 per year. Other insurers with low rates include:
- State Farm: $957 per year
- Allstate: $959 per year
Direct Auto: $1,255 per year
MetLife: $1,571 per year
For drivers with poor credit, the cheapest premiums are offered by Direct Auto, GEICO, Allstate, and State Farm.
What Is SR22 and When Is it Required?
SR22 is not a type of insurance. Instead, it’s a form that an insurer has to submit to confirm that a driver has car insurance that complies with state law. Insurers need to provide these forms if:
- The driver has been in an accident without insurance.
- The driver’s license has been suspended.
- The driver has a number of severe traffic violations.
When a driver is caught driving under the influence of alcohol or drugs, their insurer must provide a different type of form, known as an FR44. An FR44 increases the level of liability insurance a driver needs to have. Drivers with an FR44 need $100,000 of liability for the death or injury of one person, $300,000 of liability for the death or injury of two people, and $50,000 in property damage liability. Normally, a driver is only required to pay up to $10,000 in bodily injury liability per person and $20,000 per accident under the terms of the Florida Financial Responsibility Law.
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