The Best Car Insurance in Florida for 2024 March

Finding the right car insurance in Florida can seem like a daunting task with so many options to choose from. With around 20 million registered vehicles in the state, car insurance is a necessity for Florida drivers. This article will provide an overview of the best car insurance companies in Florida, what coverage options you need, and tips to get the lowest insurance rates.

What is Required for Florida Car Insurance?

Florida is an at-fault state, meaning if you are found responsible for an accident, your insurance company will pay for damages. Florida has some of the highest minimum car insurance requirements in the country:

• $10,000 in Personal Injury Protection (PIP) to cover medical expenses
• $10,000 in Property Damage Liability (PDL) if you damage another person’s property
• $10,000 in Bodily Injury Liability (BIL) per person if you injure someone in an accident
• $20,000 in BIL per accident if you injure multiple parties
• $10,000 in Uninsured Motorist Bodily Injury per person if you are hit by a driver with no insurance
• $20,000 in Uninsured Motorist Bodily Injury per accident

Florida also requires drivers to carry proof of insurance in their vehicle at all times. Acceptable proof includes an insurance card, policy declaration page, or mobile app that displays current coverage.

How Much is Car Insurance in Florida?

Car insurance rates in Florida are on the higher side compared to other states, with an average annual premium of $2,239 according to 2021 data. Rates vary significantly based on your location, driving history, age, vehicle, and other factors. Generally, rates will be highest in urban areas like Miami and Tampa.

Here are some average annual Florida car insurance rates by company for a single adult driver with good credit and clean driving record:

• Geico: $1,759
• Progressive: $2,043
• State Farm: $2,280
• Allstate: $2,893
• USAA: $1,949 (for military members)

Getting Florida car insurance quotes from multiple providers is the best way to find the lowest rate tailored to your specific situation.

Top 5 Car Insurance Companies in Florida

While every insurer uses its own formula to determine rates, these companies tend to offer competitive pricing and good service to Florida drivers:

1. State Farm

• Largest auto insurer in Florida with 18.5% market share
• Wide range of discounts like safe driver, good student, defensive driving courses
• Strong financial backing with A++ (Superior) financial strength rating from AM Best

2. Progressive

• Second largest insurer in Florida with 10.4% market share
• Name Your Price® tool gets competitive quotes even for high-risk drivers
• Lots of choices for coverage beyond state minimums

3. Geico

• Third largest Florida auto insurer with 8.9% market share
• Usage-based program tracks driving habits through mobile app for potential discounts
• Numerous discount opportunities including multi-policy, anti-theft, and anti-lock brakes

4. Allstate

• Popular national insurer with 6.5% market share in Florida
• Offers accident forgiveness to avoid rate increase at first at-fault accident
• Drivewise program tracks driving for possible discounts

5. USAA

• Only available for military members and their families
• Consistently low average rates with best-in-class customer satisfaction
• Easy online quotes, policy management, and claims handling

While these top insurers are a good starting point, make sure to compare quotes across several companies to find the best rate.

What Florida Car Insurance Coverage is Required vs Recommended

Beyond the state minimum liability coverage required in Florida, you may want to consider adding these recommended coverage options for better protection:

Comprehensive and collision insurance covers damage to your own vehicle from incidents like theft, vandalism, animal collisions, fire, and weather events. It also covers accidents when you are at fault. This coverage is required if you have a car loan or lease.

Uninsured/underinsured motorist bodily injury protects you if you are hit by a driver who doesn’t have adequate insurance. Florida has high minimum UM coverage requirements but increasing this can be beneficial.

Medical payments covers rehabilitation, funeral costs, and medical expenses after an accident, regardless of fault. This extra coverage is recommended to fill gaps if you don’t have sufficient health insurance.

Rental reimbursement covers rental car expenses while your vehicle is repaired after a covered accident. Rental coverage is important in Florida where having transportation is essential.

Roadside assistance can be added to cover towing, tire changes, jump-starts, lock-out service, and other emergency help. This is highly recommended in a state where you may break down far from home.

GAP insurance covers the difference between what your vehicle is worth and what you still owe on your auto loan if your car is totaled. This prevents you from still owing on a vehicle you no longer have.

How to Get the Lowest Car Insurance Rates in Florida

Here are some key tips to lower your car insurance premiums in Florida:

• Compare quotes from at least 5-10 different insurance providers to find the lowest rate. Rates can vary greatly so shopping around is crucial.
• Maintain good credit since insurers use credit-based insurance scores to set rates. Keep credit utilization low and make payments on time.
• Ask about discounts such as safe driver, low mileage, multi-policy, paid-in-full, and more. Every company offers different discounts so inquire about what’s available.
• Raise deductibles for collision and comprehensive which will lower your premiums at the expense of higher out-of-pocket costs if you file a claim.
• Limit coverage on older vehicles that may not need full coverage. Removing comprehensive and collision can save substantially if the car isn’t worth much.
• Take a defensive driving course which is approved by many insurers for a discount. Refresh your skills and reduce your premium.
• Inquire about usage-based programs where your driving habits are monitored to provide customized discounts based on how safely you drive.
• Avoid gaps in coverage as this can lead to higher rates when starting a new policy. Maintain continuous auto insurance even if your car is in storage.
• Drop optional coverages you may not need such as rental reimbursement or roadside assistance if trying to cut costs. But keep required and recommended coverage.
• Increase deductibles if you want to lower your rate but retain high coverage limits. This decreases premiums at the cost of more money out of pocket when filing a claim.
• Check rates frequently at least once or twice a year. As new insurers enter the Florida market or your own risk profile changes, there may be cheaper options.

Frequently Asked Questions on Florida Car Insurance