2020 Florida Car Insurance Report
Florida is the second most expensive state for car insurance in the country. The state’s road system contains over 267,000 lane miles, which makes it more extensive than the road systems of all but 6 other states. Florida drivers also face greater danger on the road than drivers in other states. The state's motor vehicle occupant death rate is the nineteenth highest in the country and is higher than the national rate. This increased risk helps to push premiums in Florida up. However, Florida lawmakers are looking at changing some car insurance requirements during the 2020 legislative session, such as repealing the state’s Personal Injury Protection law and replacing it with bodily liability coverage mandates.
In this report, WalletHub dug deeper into how car insurance premiums in Florida vary. More specifically, it measured how individual factors such as gender, age, coverage type and location can impact a driver’s overall rate.
Best Cities for Cheap Car Insurance in Florida
The most expensive city in Florida is 116% more expensive than the least expensive
|Rank||City||Premium Relative to Baseline*||Rank||City||Premium Relative to Baseline*|
|3||Fort Myers||105%||18||Spring Hill||143%|
|8||Cape Coral||114%||23||Boca Raton||180%|
|9||Bradenton||115%||24||West Palm Beach||180%|
|14||Port St. Lucie||138%||29||Lake Worth||207%|
Medium-sized cities in Florida offer premiums that are around 26 percent lower than in other cities
Premiums by Gender
In Florida, women pay 7% more in car insurance premiums than men
Premiums by Age
In Florida, 16-year-olds pay 342% more than 56-year-olds
Premiums by Marital Status
In Florida, being married can help you save only up to 2% on your premium
Premiums by Profession
There is no significant difference in premiums by profession, but being an office manager can help you save up to 3% on your premium
Premiums by Type of Use
In Florida, commercial auto insurance premiums are 6% higher than personal premiums, on average
Premiums by Mileage
In Florida, driving 25,000+ miles per year means paying about 15% more for car insurance (vs. 3,000 miles per year)
Premiums by Type of Coverage
Adding Comprehensive and Collision coverage in Florida can increase your car insurance cost by 31.63%.
A Super Premium insurance plan costs 104% more than the state’s minimum requirement in Florida.
Premium Increase by Accidents
Florida drivers with a recent accident pay up to 47% more for car insurance
Best Car Insurance Companies in Florida
|Overall Rank||Company Name||Cheapest Rank||Customer Service Rank|
Complaints Index by the Largest Car Insurance Companies in Florida
|Company||Complaints Index||WalletHub User Reviews||Overall Customer Satisfaction Rank|
|Geico||1.12||3.8 (556 reviews)||1|
|Progressive||0.84||3.5 (318 reviews)||2|
|State Farm||1.26||3.9 (440 reviews)||3|
|Allstate||0.97||3.6 (233 reviews)||4|
|Liberty Mutual||0.86||3.3 (214 reviews)||5|
The complaints index is the ratio between the market share of complaints divided by the market share of premiums written. The lower the index, the better.
Regional Characteristics Correlated with Florida Car Insurance
Living in a city with a high Vehicle Theft Rate in Florida can cost you up to 57% more on your car insurance.
|Lowest||Highest||∆ Highest vs Lowest Premium Difference||Correlation Factor|
|African American Pop||Hialeah
|Vehicle Theft Rate||Naples
Tips for How to Get Cheap Car Insurance
- Get a car that’s cheap to cover. Certain car models cost more to insure than others. Cars that are safer and cost less, like minivans and SUVs, are cheaper to insure than expensive, fast sports cars.
- Be on your best behavior. Safe drivers with no history of accidents, tickets or arrests can look forward to cheaper rates than people who haven’t been as responsible. Convicted felons will also often have to pay more, even if their record isn’t related to driving.
- Take advantage of discounts. You may be able to get discounts if you are a veteran, get paperless statements, have a good driving record, bundle policies, are a student or have an anti-theft system, to name a few.
- Build good credit. Your credit score will often factor into your auto insurance rates – people with no credit pay 67% more than people with excellent credit on average. Insurers know that financial responsibility often correlates with responsibility in other areas of life. People with poor credit are more likely to file an insurance claim. To boost your credit score, always pay you credit bills on time and try to use less than 30% of your available credit.
- Look locally. There are several big-name nationwide auto insurers with lots of satisfied customers, but you don’t necessarily have to get coverage from a company that takes clients from all across the country. Plenty of car insurance companies only cater to customers in certain regions or states. These local insurers may provide lower rates but are often overlooked. Make sure to include them in your comparison, at least.
- Choose a higher deductible. An insurer may lower your monthly rates in return for a higher deductible - the amount you personally have to pay when you make a claim. That can save you money if you never have an accident. This approach makes the most sense for people who are very infrequent drivers.
- Select less comprehensive coverage. There are many types of car insurance. You will usually need liability coverage, to pay for the other person’s damages if you’re at fault in an accident. But you may not need collision damage (pays your repairs) or comprehensive coverage (pays for non-accident-related damages). Both pay out based on your car’s current value. If your car is older and will cost more to fix than to buy a new vehicle, it may not be worth it.
- Consider pay-per-mile plans. You don’t always have to pay a set amount per month. There are also plans based on how much you drive. If you have a car but rarely use it or only drive very locally, a pay-per-mile plan may be best for you. The insurance company will place a device in your car that tracks your mileage. It may also track things like your speed and braking, which could affect your rates positively if you’re a safe driver and negatively if not.
In order to examine how auto insurance premiums vary within Florida, we collected insurance quotes from the websites of five of the largest providers in the state. Collectively they represent 68% of the market and they all offer online quotes.
City Selection: We chose the 30 most populated cities, according to U.S. Census Bureau data.
City Zip Code Selection: For each quote, we were required to enter a zip code on the insurer’s quoting platform. For each city we picked the zip code with the highest population.
DRIVER AND AUTOMOBILE DATA
Experienced Female Driver
|Licensed: 20 Years|
|Age: 36 Years|
|Employment Status/Profession: Unemployed|
|Marital Status and Gender: Single Female|
|Membership in Organization: None|
|Traffic Violations: None|
|Annual Mileage: 15,000|
|Daily Use Purpose: Commute to School/Work (20 Miles Each Way)|
|Days per Week: 5|
|$50,000 for Injury/Death to One Person|
|$100,000 for Injury/Death to More than One Person and $50,000 for Damage to Property|
|Collision Coverage with Uninsured Motorist of $30,000|
|Collision Coverage with Underinsured Motorist of $60,000 (UMUND)|
|$500 Collision Coverage (COLL)|
|$500 Comprehensive Coverage (COMP)|
|2014 Toyota Camry L, 4-Cyl., Sedan|
|Assume: driver-side air bag, standard performance, no anti-theft device|
In order to obtain comparable results across different scenarios, we kept the car information the same for each quote. Starting with the above base case, we altered the parameters one at a time and extracted the resulting quotes to outline the differences across gender, marital status, age, profession, annual mileage, and daily use of car.
For traffic violations and liability coverage, full details were not included in the above charts for simplicity's sake. They are as follows:
Traffic Violations from the Past 36 Months:
- 1 Speeding Ticket, 1–19 Miles Over Limit (3 Months Ago)
- Reckless Driving – 1 Speeding Ticket, 20+ Miles Over Limit (3 Months Ago)
- Improper Turn/No Signal (3 Months Ago)
- DUI (12 Months Ago)
- 1 Accident, No Casualties, $1000+ Claim (12 Months Ago)
- 1 Accident, No Casualties, $1000+ Claim (3 Months Ago)
- Clean Driving History (Base Case)
- Minimum: $25,000 per person and $50,000 per accident for bodily injury and underinsured bodily injury liability, and $25,000 for property damage.
- Economy Full: $25,000 per person and $50,000 per accident for bodily injury and underinsured bodily injury, $25,000 for property damage, $500 collision and $500 comprehensive deductible.
- Base: $50,000 per person and $100,000 per accident for bodily injury, $30,000 per person and $60,000 for underinsured bodily injury, $30,000 for property damage, $500 collision and $500 comprehensive deductible.
- Premium: $100,000 per person and $300,000 per accident for bodily injury, $50,000 per person and $100,000 for underinsured bodily injury, $50,000 for property damage, $500 collision and $500 comprehensive deductible.
- Super Premium: $100,000 per person and $300,000 per accident for bodily injury, $50,000 per person and $100,000 for underinsured bodily injury, $50,000 for property damage, $250 collision and $250 comprehensive deductible.
Complaints Index: The complaints index was obtained by dividing the total complaints for each individual company by the total number of complaints across all insurance companies in Florida (complaint market share), all divided by total market share. The Overall Customer Satisfaction Rank was determined by averaging the rankings for the Complaint Index and WalletHub User Review categories.
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