Florida car insurance rates are among the highest in the country, but how much your policy costs depends on a variety of factors like your age and car you drive. NerdWallet’s editorial team conducted extensive analysis on Florida’s six largest providers for drivers across multiple age brackets, driving histories and credit scores; we looked at average premium rates for 2021 Toyota Camry LEs to illustrate that premiums differ depending on individual situations.
Progressive, Liberty Mutual and Geico have filed rate hike requests in 2023 and 2024 due to Florida’s higher-than-average distracted driving accident numbers; however, other factors may also contribute such as rising population density or climate change’s increased frequency and intensity of severe weather events.
Florida drivers should shop around for the most competitive rates by comparing quotes online, receiving free quotes from multiple insurers, and taking advantage of discounts like bundling, good student, safe driving and military members and federal employees. Furthermore, Florida has minimum coverage requirements that may not meet all your needs so if possible add more bodily injury liability and comprehensive and collision coverages as these may offer more savings in premium costs.
Car make and model, value and mileage are also crucial considerations in car insurance rates; older cars tend to cost more due to depreciation while newer ones often come equipped with safety and security features that lower accident risk.
Driving records, including DUIs, speeding tickets or at-fault accidents can have an effect on car insurance premiums; drivers with excellent credit pay 20% less for coverage. Claims made can also play a factor; for instance property damage claims could increase policy costs while medical coverage claims might change it further.
Insurance companies have taken steps to mitigate Florida-specific factors that have an effect on auto insurance prices, such as an unusually high incidence of staged accidents and windshield replacement scams, on premiums. And although their industry posted underwriting losses last year, they’re optimistically projecting increased profitability this year.
MoneyGeek’s car insurance calculator makes estimating annual and monthly car insurance premiums quick and easy for any vehicle and coverage level. In just 10-15 minutes you can fill out our short form, receive your estimate that takes into account make and model of car, age and personal information plus credit score to generate a personal quote for comparison against top Florida insurers to find one that works for you!