The average cost of minimum-coverage car insurance in Florida is 86% more than $72 — the national average — and 42% higher than $223 for full coverage. ; Florida has the third-highest average minimum-coverage premiums in the country and the sixth-highest average rates for full-coverage. ; The rising rate of fatal accidents, “no-fault” insurance laws and frequent severe weather all contribute to the high cost of car insurance in Florida.
Florida car insurance rates are rising. Bankrate explains why and what you can do.
Shopping for auto insurance in Florida? Keep reading to learn about how much car insurance you'll need and ways to find the cheapest car insurance in this state.
How to find the best car insurance in Florida ; How much is car insurance in Florida? ; Estimate your car insurance cost
Car insurance costs continue to rise. According to a report from Bankrate, average premiums for full coverage auto insurance hit $2,543 in 2024, a 26% increase from 2023. ; Unsurprisingly, drivers across the U.S. are looking for ways to save. Nearly half (49%) of auto insurance customers are actively shopping for a new plan, according to J.D. Power. ; Full coverage car insurance combines three kinds of coverage and is usually required if you lease or finance your car.
The top 5 cheapest car insurance companies in Florida are Geico, Travelers, State Farm, Farmers and Nationwide. ; Florida drivers pay some of the highest auto insurance rates in the country, at nearly 86.1% more than the national average for full coverage. ; Full-coverage car insurance rates have risen 7.3% over the last year in Florida, putting additional strain on drivers’ household budgets.
Travelers and State Farm have the cheapest car insurance in Florida according to Forbes Advisor's 2024 analysis
Car insurance in Florida is far more expensive than the national average, but it's possible to save with these companies.
State Farm is the cheapest car insurance company in Florida overall, according to the most recent NerdWallet analysis. Read on to see other cheap options.
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