What is the average cost of car insurance per year in Florida? (2024)

What is the average cost of car insurance per year in Florida?

If you only want to purchase the minimum amount of car insurance required in Florida, you can expect to pay around $1,286 a year. High-risk drivers in Florida can expect significantly higher rates. On average, they'll spend $6,135 a year on full coverage.

How much does car insurance cost a year in Florida?

If you only want to purchase the minimum amount of car insurance required in Florida, you can expect to pay around $1,286 a year. High-risk drivers in Florida can expect significantly higher rates. On average, they'll spend $6,135 a year on full coverage.

What is normal auto insurance coverage in Florida?

$10,000 liability coverage for property damage to the other person's car; and. $10,000 coverage for what is known as "Personal Injury Protection” or "PIP” (also known as "No-Fault” insurance) to pay for your own medical bills and lost wages (but not those of the other driver if you were at fault).

Why is Florida car insurance so high?

“Florida drivers are aware extreme weather really plays a strong part in your auto and home insurance rates.” In addition to severe weather, accidents are more severe, there are more litigated claims, and increased costs of parts and labor are all factors, according to Martin.

What age is car insurance most expensive?

As a result, car insurance companies view young drivers as the most risky to insure. Drivers ages 16 to 24 tend to face the highest premiums compared to other age groups.

How much is car insurance per month Florida?

In Florida, full coverage car insurance costs an average of $329 per month, while minimum coverage is $109 per month. Full coverage car insurance in Florida costs 55 percent more than the average cost of car insurance nationwide.

Who has the cheapest auto insurance in Florida?

State Farm offers the cheapest car insurance rates in Florida. On average, you can expect the rates from the company to be $650 per year for minimum liability policies and $1,813 per year for full coverage plans.

What is the most basic car insurance in Florida?

Yes, to register your car in the Sunshine State, Florida law requires an auto insurance policy that provides at least the state minimum coverage limits, which are $10,000 of Personal Injury Protection (PIP) coverage and $10,000 Property Damage Liability (PDL) coverage.

What is the minimum car insurance you must have in Florida?

According to Florida law, if you own a motor vehicle with four or more wheels you must carry $10,000 of personal injury protection (PIP) insurance and a minimum of $10,000 of property damage liability insurance. You may have a deductible of up to $1,000 for PIP coverage and $500 for property damage liability.

Is Florida car insurance expensive?

According to the Insurance Information Institute, as of January 2024, the average annual full coverage premium in Florida was $3,941 – 55% higher than the national average of $2,542 and over $750 dollars more than the cost of insurance in January of 2023.

How can I lower my car insurance in Florida?

What is the new insurance law in Florida 2024?

$500 MILLION IN PROPERTY INSURANCE TAX RELIEF FOR HOMEOWNERS

The bill also includes a one-year insurance premium tax relief on flood insurance policies, reducing the cost of flood insurance policies written between October 1, 2024, and September 30, 2025.

Who has the best car insurance rates in Florida?

State Farm has the cheapest car insurance rates in Florida, according to our study, with an average annual rate of $138 per month. Drivers in the Sunshine State can expect to pay nearly 40% more annually than the national average, as the average premium rose by almost $160 in 2023 over the previous year.

Which gender pays more car insurance?

Men pay more for auto insurance on average because they're statistically more likely to get into accidents and to have major injuries. However, male drivers only pay about $51 more per year than their female counterparts on average.

What is the best car insurance for people over 65?

Allstate, American Family, Nationwide and USAA have the best car insurance for seniors who don't drive much. All four offer pay-per-mile insurance, which can save you money if you only drive occasionally. Metromile also offers pay-per-mile insurance, but it's only available in eight states.

What is the cheapest car insurance for senior citizens?

Our research found that Geico, Auto-Owners, State Farm, USAA and Erie may be the cheapest car insurance companies for seniors based on average rates from Quadrant Information Services. Rates provided are for a 70-year-old driver with a clean driving record.

Does credit score affect car insurance?

On average, drivers with poor credit pay 118 percent more for full coverage car insurance than those with excellent credit. California, Hawaii, Massachusetts and Michigan prohibit or limit the use of credit as a rating factor in determining auto insurance rates.

Which insurance company has the highest customer satisfaction in Florida?

Allstate is known for customer satisfaction, a crucial aspect for Florida drivers.

What is the cheapest car insurance for seniors in Florida?

Geico has the cheapest liability car insurance coverage for senior drivers in Florida at an average annual premium of $747. State Farm and Travelers also offer cheap liability insurance rates to seniors in Florida, based on CarInsurance.com data analysis.

Is State Farm leaving Florida?

Gov. Ron DeSantis' office confirmed that State Farm Insurance plans to continue its presence in the Florida insurance marketplace after Farmers Insurance declared plans to leave the state.

What is the best auto insurance for seniors in Florida?

Nationwide, USAA, Travelers, Erie, Auto-Owners, Geico and Progressive are the best car insurance companies for seniors, according to our analysis.

What is the cheapest full coverage insurance in Florida?

Cheapest car insurance in Florida: State Farm

State Farm has the best cheap full coverage car insurance in Florida, at $163 per month. That's $86 per month cheaper than the Florida state average. Geico also has cheap full coverage at $167 per month, which is only $4 per month more than State Farm.

Can I take insurance off my car if I m not driving it Florida?

You'll need to keep the legally required auto insurance coverages. But you can remove optional add-ons like roadside assistance and custom parts and equipment coverage to save money while you're not driving.

What percentage of Floridians don't have car insurance?

Is Geico cheaper than Progressive?

Both Geico and Progressive offer cheap car insurance to drivers across the country. Geico's rates are typically lower overall, but Progressive tends to offer better prices to high-risk drivers. High-risk drivers are those with a recent DUI, at-fault accident or speeding ticket on their driving record.