Average Cost of Car Insurance in Florida : Summary
MoneyGeek examined how policy rates in Florida change with specific factors. The driver ‘s old age and credit score most significantly influence average car policy rates in the state. multiple elements affect car insurance premiums. The figures we provide in this lead are averages, so drivers should always consider their personal characteristics when calculate costs .
Average Costs of Car Insurance in Florida
Why Are Car Insurance Rates Expensive in Florida?
MoneyGeek ‘s analysis found that the car indemnity rates in Florida are expensive. The department of state has a high percentage of urban drivers, which results in a higher hazard of accidents. Its highway traffic concentration and uninsured motorist rate besides rank among the exceed 10 in the country. Florida is besides known for its vulnerability to natural disasters, which often result in higher premiums. furthermore, Florida is a no-fault state. Insurers must cover the guarantee regardless of who is at fault, leading to high gear policy costs in the country.
Average Cost of Car Insurance in Florida : Full Coverage vs. Minimum Coverage
According to MoneyGeek, a state minimum car indemnity policy in Florida costs an average of $ 1,123 per year. The average cost of wide coverage car insurance in Florida is $ 2,208 per year — a meaning difference of $ 1,085. The sum of coverage you select besides affects the average price of fomite insurance in Florida. Insurers offer respective coverage options. Liability coverage is often the submit minimal, with or without accessory coverages. With comprehensive examination, collision and liability coverages generally included in a fully coverage indemnity policy, it costs much higher than the state ‘s minimum indemnity policy .
Average Cost of Car Insurance in Florida by Coverage Level
Minimum vs. Full Coverage Car Insurance Costs in Florida – By Company
careless of the factors affecting costs, each policy company will present you with a different quote. As a result, the insurance company you choose will affect your car policy price. GEICO provides the cheapest full coverage policy, on modal, for Florida ‘s drivers. It is besides the most low-cost insurance company for the state ‘s average minimal liability indemnity prices. Although USAA ‘s policies are the most cost-efficient for both types of indemnity, they are alone available to current and former military members and their families. Progressive, on the other hand, charges the highest on modal for both state minimum liability entirely and full moon coverage plans. Premiums for all providers change with the driver ‘s specific characteristics, so it ‘s important to compare quotes from different companies .
Average Annual Costs of Car Insurance in Florida – By Company
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- company minimum coverage Full coverage
- State Farm
How Much Is Car Insurance in Florida by Age
A driver ‘s age besides affects their car indemnity rates in Florida. Due to their lack of driving expertness, insurers consider young drivers as riskier to insure and charge them higher premiums. however, as a unseasoned driver, you can save money by being added to your parent ‘s car insurance policy. According to MoneyGeek, a 16-year-old buy their own policy in Florida pays an average of $ 4,913 — significantly higher than the $ 2,208 average for a 40-year-old. New or first-time drivers, careless of old age, are considered a bad as young drivers in Florida and may be quoted policy premiums .
Average Costs of Full Coverage Car Insurance in Florida – By Age
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- historic period annual agio
How Does Driving History Affect Car Insurance Costs in Florida ?
policy companies perceive people with a history of car accidents and multiple traffic violations as bad drivers and typically charge them higher premiums. even if you have a bad drive record, you may be able to get lower rates in Florida if you shop around. According to MoneyGeek, a speeding ticket on your drive criminal record costs you $ 694 more a year on average. agio increases align with the seriousness of the trespass .
Average Costs of Full Coverage Car Insurance in Florida – By Driving History
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- Driving irreverence annual bounty
Credit Scores and the Cost of Car Insurance in Florida
In Florida, insurers use your recognition score to determine your insurance costs. A driver with an excellent credit score typically saves a draw of money on car insurance premiums. While a poor credit score may encourage insurers to charge you high premiums, you can still compare quotes from different providers to obtain an low-cost policy in Florida. Based on MoneyGeek ‘s analysis, a driver with a bad credit score pays an average of $ 2,093 more per class in Florida than people with strong citation scores. similarly, possessing an excellent credit seduce leads to average annual savings of $ 456 on premiums .
Average Costs of Full Coverage Car Insurance in Florida – By Credit Score
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- credit rating score annual premium
How Much Is Car Insurance in Your City?
MoneyGeek ‘s discipline found that car indemnity rates vary substantially among states and from city to city. On median, the lowest car indemnity policy in Florida is available in Gainesville, while drivers pay for the most expensive coverage in Hialeah. Hialeah ‘s annual median is $ 604 higher than the state average of $ 2,208, while Gainesville ‘s average is $ 821 lower. If you reside in a densely populate area or an sphere with a high gamble of dealings accidents or natural disasters, your provider will likely charge more for insurance. Premiums may besides increase depending on the risk of vehicle larceny in your sphere and other factors .
Average Costs of Full Coverage Car Insurance in Florida – By City
Frequently Asked Questions About Florida Car Insurance Rates
MoneyGeek provides some answers to park inquiries about car policy rates in Florida .
The average annual cost of car insurance in Florida is $ 2,208. We reached this figure by requesting rates for a sample driver profile across respective indemnity companies and locations .
The high rates of highway traffic concentration and urban population in Florida put up to the express ‘s high traffic congestion, which could increase the department of state ‘s risk of accidents. The state ranks sixth for its issue of uninsured motorists, is prone to lifelike disasters and has a significant rate of vehicle thefts. Its condition as a no-fault express besides contributes to the state ‘s expensive car policy rates .
Estimate your average indemnity premium in Florida by comparing rates for drivers who share your profile and characteristics. After that, request rates from unlike insurers to see if you can get a better cope than the average.
MoneyGeek collaborated with Quadrant Information Services to collect car insurance quotes in Florida for this report. We used a sample profile for a 40-year-old driver with a clean driving record and fully coverage, unless modified by criteria like coverage level, age, driving offenses and credit score. We define “ full coverage ” and explore its limits on our methodology page. MoneyGeek besides acquired data on traffic concentration, uninsured motorists, urban population, and vehicle larceny :
- Highway traffic density was calculated with 2019 data from the Federal Highway Administration.
- Data on uninsured motorists was drawn from 2019 data from the Insurance Research Council.
- Urban share of population was calculated using the latest data from the U.S. Census Bureau.
- Data on motor vehicle theft rate was drawn from the FBI Crime in the United States Report for 2019.
About the generator
Read more: The Best Car Insurance Companies for 2022
Mark Fitzpatrick is a elder message coach with MoneyGeek specializing in indemnity. Mark has years of experience analyzing the indemnity market and creating original research and contentedness. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a master of Arts .