Best Florida Auto Insurance Companies - Minimum coverage in Tampa costs an average of $3,020, about $252 a month, while the city's full coverage policy typically costs $4,440, or $370 a month. Quotes are about $970 higher than all of Florida car insurance.
Depending on the insurance company, the minimum car insurance coverage can vary by more than $5,000. This shows why shopping can help you save money.
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Geico and State Farm offer the most affordable rates on minimum liability policies in Florida. On average, these companies pay less than $2,000 a year.
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A minimum coverage policy comes with the lowest coverage required by Florida law. Insurance costs tend to rise in densely populated areas. Tampa is the largest city in the Tampa Bay area and the third largest city in Florida, so it's no surprise that insurance rates are higher than the national average.
A minimum liability policy is the cheapest option for coverage, but may not be the best for individual needs. Note that the minimum policy does not cover damage to your vehicle. If you have an accident and damage your car, your insurance will not cover the cost of the damage.
The Tampa insurance company with the lowest comprehensive coverage policy is Geico, with an average premium of $2,331 per year.
If you're looking for an alternative, the second cheapest option is State Farm, which costs an average of $693 more than Geico.
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A comprehensive coverage policy costs more than a minimum liability policy, but offers more protection. This means, it comes with comprehensive and collision coverage.
If your car is less than 10 years old or worth more than $3,000, you will benefit more from purchasing a comprehensive coverage policy. But if your car isn't worth much, then investing in a comprehensive coverage policy may not make sense. You could end up spending more on insurance than your vehicle is worth.
New drivers in Tampa will find the cheapest insurance quotes with Geico, which has an average annual cost of $4,070 – slightly lower than the city average.
Age is one of the biggest factors that affects insurance rates. Young people tend to pay more for car insurance, on average, than middle-aged drivers. Teen drivers have the most accidents of any group, making them an insurance risk.
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In fact, the average cost of insuring comprehensive coverage for young people is almost double the cost for drivers in their 30s.
Tampa drivers with accidents on their record should check out Geico, which offers the best auto insurance rates after an accident.
Drivers with a history of even one accident know that it is very heavy on insurance costs. Insurance premiums go up after an accident. The companies that raised their prices the least after the crash were:
Accidents can cause your premiums to increase and disqualify you from good and safe driver discounts. It's important that when you ask about quotes, you also ask how accidents will affect your rates.
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In Tampa, your neighborhood will affect your annual auto insurance rates. If you live in New Tampa, Tampa's cheapest area, you pay $757 less than your friend or colleague in Northwest Tampa, the tourist hub and one of Tampa's most expensive areas.
Tampa has the lowest auto theft rate of the eight largest cities in Florida. The city's car theft rate is nearly half that of Jacksonville, Florida's most populous city.
The 11 largest players in the Florida auto insurance market write about 82% of all premiums. Each major insurance company is different depending on the average price, number of policy offerings and quality of service, among other factors.
If you are debating whether to get insurance from a large company or a small company, you should consider the advantages and disadvantages of each, as well as your needs. Larger insurers have discount offers, greater policies and availability, but lack the personal service approach that smaller insurers have.
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Car insurance coverage requirements are determined by the state of Florida. To legally drive in Tampa, all drivers must meet the following requirements:
Insurance in Florida is generally more expensive than in other states, so you may be tempted to buy the minimum coverage. However, a minimum liability policy may not be enough to protect you financially if you are involved in a costly accident. Drivers with expensive or new cars should consider higher coverage limits or additional protection.
No-fault insurance covers medical expenses after an accident, regardless of who is at fault. Drivers are not allowed to file claims or seek judgment against other drivers after an accident.
The type of no-fault coverage required in Florida is personal injury protection (PIP), which financially covers medical bills for you and your passengers.
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If you have been convicted of driving under the influence or without insurance, you must carry additional coverage and higher coverage limits under Florida's financial responsibility law on an SR-22 or FR-44 insurance form.
Drivers who do not have insurance or have many points on their driving record appear to be at high risk. These drivers may need to ask their insurer to submit an SR-22 endorsement. The form is proof that you have met the following insurance coverage requirements:
How long you must have an SR-22 endorsement should be verified with your local Department of Motor Vehicles (DMV). In most cases, you must have an SR-22 filed for at least three years in Florida.
An FR-44 is generally required for drivers convicted of driving under the influence (DUI) or driving while intoxicated (DWI). Because of the seriousness of these violations, drivers who file an FR-44 must pay higher coverage limits.
Who Has Florida's Best Cheap Car Insurance Quotes? (2022)
Examine data from six Tampa insurance companies. As mentioned, our sample driver is a 30-year-old unmarried male who owns a 2015 Honda Civic EX. The driver is interested in purchasing a minimum car insurance policy and has a poor credit history.
Analysis using insurance rate data from Quadrant Information Services. These rates are generally derived from insurance files and should be used for comparison purposes only - your quote may vary.
To get an insurance quote over the phone, call: (855) 596-3655 | Agents are available 24 hours a day, 7 days a week! The cheapest auto insurance companies in Florida are Geico, State Farm and Travelers. Florida drivers can save hundreds of dollars or more per year on auto insurance just by shopping around and comparing quotes.
Florida car insurance isn't cheap. In fact, Florida is the 36th most expensive state for auto insurance in a national survey of low-cost auto insurance. A big reason is that Florida has the highest rate of uninsured drivers in the country, at 27%. Uninsured motorist injuries cost billions of dollars each year, and insurance companies bear the brunt before passing the cost on to consumers through higher premiums.
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Comparing car insurance options is very important in Florida because the rates can be very high. Also, some companies charge more than others for the same coverage. In Florida, the average difference between the highest and lowest quotes for comprehensive coverage is more than $1,500. This shows how much Floridians can save by shopping around.
For help, analyze quotes from all major insurance companies, using different driver profiles and state zip codes to find the cheapest Florida car insurance companies.
Geico has the cheapest car insurance for top drivers in Florida. Drivers who have never been in an accident or received a citation are considered good drivers by insurance companies and pay less for insurance than drivers with bad records. In addition to low rates, good drivers can often get additional discounts from insurance companies.
Full coverage refers to a policy that exceeds the state's minimum requirements. Because comprehensive coverage protects you in other situations, it costs more than the minimum requirement.
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After a speeding ticket, most drivers will see their insurance rates increase within 3-5 years. It's important to remember that each insurance company calculates rates differently, so you should get multiple quotes to make sure you're getting the best deal.
An at-fault accident will usually affect your insurance for 3-5 years because the insurer will consider you a high risk. Because of the higher rates, it's even more important to compare.
A low credit score often marks a driver as a higher risk, so insurers will usually pay more for coverage. However, because insurance companies use different formulas to calculate premiums, bad credit may affect your rates more with one company than with another. Because each insurance company treats credit differently, it's worth comparing quotes.
Since young drivers have less experience behind the wheel, insurers tend to charge higher rates than more mature drivers. On average, most drivers will see their premiums decrease as they get older with a sharp drop around age 25. Cheapest auto insurance in Florida for older drivers
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Although adult drivers pay less for car insurance than teenagers,
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