USAA: Cheapest Car Insurance in Florida
In a recent report published by Clearsurance.com, USAA is the best and cheapest car insurance provider in Florida. Since they only write policies for military members and families, Geico is the most affordable option for the general public.
The average rate for minimum coverage from Geico in Florida is $30 a month. State Farm is close, with an average rate of $33 a month.
Below is the list of the top 10 cheapest providers in Florida with their average monthly premiums for minimum liability insurance:
- USAA – $16
- Geico – $30
- State Farm – $33
- Nationwide – $35
- Progressive – $52
- Liberty Mutual – $55
- Travelers – $56
- Allstate – $62
- American Family – $63
- Farmers – $76
Average rates are only a starting point for comparison. To get more accurate quotes, drivers should compare rates for themselves because circumstances differ and what’s best for one person may not be a good option for another.
Car Insurance Considerations
Premiums are the most critical factor in most people’s decision to choose a particular insurance provider. However, there are other factors that drivers should consider.
A company’s financial standing is critical because it indicates its ability to pay claims. Another important consideration is its customer service record. A company with poor customer service ratings could be problematic to work with when filing a claim.
Many customers also appreciate the ability to customize their policies, and each provider on Clearsurance.com’s list allows that.
Minimum Car Insurance Requirements in Florida
Florida is a no-fault insurance state, meaning each party involved in an accident pays its own medical bills, regardless of who was at fault. So, personal injury protection (PIP) is required in Florida.
Drivers must carry $10,000 in property damage liability—and $10,000 in PIP coverage.
Since drivers must cover their own injury costs, they don’t have to carry bodily injury liability, however, many drivers choose to carry it anyway. If a driver decides to buy bodily injury liability, the minimum limits they can purchase are $10,000 per person and $20,000 per accident.
Even though bodily injury liability isn’t required in Florida, drivers should carry it because an at-fault driver could be sued for the cost of treating injuries that exceed PIP limitations.
Uninsured Drivers in Florida
Unfortunately, Florida has the highest rate of uninsured drivers of any state in the U.S. over 26% of drivers don’t carry insurance.
In many states, uninsured and underinsured motorist protection is required but can usually be opted out of. In Florida, it’s optional and since PIP covers injuries anyway, many drivers skip uninsured motorist coverage for injuries.
Insurance Premium Calculation in Florida
In Florida, insurers consider many of the same factors they use to formulate rates nationwide.
They typically include the following factors:
- Age
- Address
- Claims history
- Credit history
- Driving history
- Vehicle value
Additionally, environmental factors can impact rates. Although the risk of hurricane damage plays the most significant role in determining home insurance premiums, hurricane risks can also affect car insurance rates.
Drivers who fit low-risk qualifications in these categories can expect low monthly premiums. Drivers who are high-risk in these areas will likely pay far higher rates.
Melanie Musson, a nationally recognized insurance expert with Clearsurance.com, reminds drivers, “While drivers can’t change everything related to their insurance premiums, they can put effort into driving safely and building a low-risk driving history that will result in lower premiums.”
Most Expensive and Cheapest Insurance Areas in Florida
The Tampa and Miami areas have some of the state’s most expensive car insurance premiums. Newberry, Gainesville, and Santa Rosa Beach are among the least expensive areas.
Premiums vary in different parts of the state because risks vary. In bigger cities, the traffic volume and the risk of accidents are higher, especially for drivers who commute during rush hour. If the crime rate is higher in certain areas, insurance premiums can be affected because of the risk of theft or vandalism.
Read Clearsurance.com’s entire report here: Best and Cheapest Car Insurance in Florida.