The Cost of Car insurance in Florida 2023

In this post you'll get information about the cost of car insurance in Florida 2023. Florida car insurance is so expensive because of some factors...

The Cost of Car insurance in Florida 2023

The Cost of Car insurance in Florida 2023 - digitalskillsguide.com

In this post you'll get information about the cost of car insurance in Florida 2023.

Drivers in Florida spend on average $2,364 annually for full coverage, which is 41% higher than the $1,674 average paid nationwide. However, your price will be determined by a variety of rating elements, such as where you live in the state and the kinds and levels of coverage you select. Due to the higher cost of living and increased risk of accidents, Bankrate discovered that larger cities and coastal regions typically had higher average rates. Furthermore, selecting more extensive coverage or adding further endorsements would probably raise your premium.

Florida is one of the most costly states in the states for car insurance. According to a 2021 Bankrate research of average yearly full coverage car insurance premiums from Quadrant Information Services, drivers in the Sunshine State pay $2,364 on average per year. 

The Cost of Car insurance in Florida 2023 Table of Contents

#1. Why is Florida Car Insurance so Expensive?

#2. How much does car insurance in Florida cost per month? 

#3. What factors are used to calculate your car insurance cost?

#4. How can you reduce the cost of your auto insurance?

#5. How to calculate car insurance costs

#6. Factors considered to calculate car insurance cost?

#7. Car Insurance Rates Determinant Factors

    #7.1 Age

    #7.2 Location

    #7.3 Car Status

    #7.4 Marital Status

    #7.5 Primary car usage

#8. Florida Average Cost of Car Insurance 

#9. Florida car insurance rates by company

#10. Average auto insurance premiums in Florida by marital status

#11. Florida car insurance rates based on vehicle type

#12. Florida car insurance rates on average for high-risk driver 

#13. Car insurance rates in Florida based on driving history

#14. Florida auto insurance costs based on gender

#15. Average Car insurance rates in Florida based on gender

#16. Average Car insurance rates in Florida based on coverage level

#17. Car Insurance rates Florida based on location (City)

#18. How much car insurance coverage do you need?

#19. FAQs in relation to the cost of car insurance in Florida 

The Cost of Car insurance in Florida 2023

#1. Why is Florida Car Insurance so Expensive?

The Cost of Car insurance in Florida 2023

Florida car insurance is so expensive because of some factors like; the high cost of healthcare, the prevalence of uninsured drivers, congested roads, additional insurance requirements, risk of severe weather, high risk drivers, and other variables all play a part in why automobile insurance in Florida is so expensive. Although auto insurance in Florida is expensive, there are a number of ways to lower your premium.

#2. How much does car insurance in Florida cost per month? 

How much does car insurance in Florida cost per month?  Drivers typically pay $197 per month for complete coverage. National average for full coverage premiums in the United States cost $1,674 per year, which implies that drivers in Florida pay about $700 more yearly than other drivers nationwide.

Read Also: Why Is Florida Car Insurance So Expensive

#3. What factors are used to calculate your car insurance cost?

How are car insurance rates set?

Your car insurance premium is determined by a number of variables by insurance providers. For instance, your "riskiness" as a driver is assessed based on your age and accident history. Your auto insurance estimates will be more expensive if you are a young driver or one with a history of accidents than they would be for an older driver or someone with a good driving record.

#4. How can you reduce the cost of your auto insurance?

If you have a dangerous driving history or reside in a state where the minimum level of coverage is higher, it may be challenging to obtain affordable auto insurance rates. To get the lowest insurance premiums, motorists ought to think about taking the following actions:

Compare prices provided by various businesses. The annual cost differential between the least expensive and most expensive insurance companies can reach the tens of thousands. Along with smaller companies like Erie and Farm Bureau, you should request price estimates from well-known insurers like State Farm and Geico.

You can also seek for discounts. Most insurance providers provide a wide variety of discounts, especially big insurance companies in States like State Farm and Geico. These savings pile up, and you might already be able to take advantage of some of them.

A multicar policy can be appropriate if you live with other drivers. Adding a new member to your insurance plan is less expensive than purchasing two separate car insurance policies. Anyone you reside with can share a multicar policy.

Combine your other insurance policies. The majority of large insurance companies give you the choice of combining your renters insurance or homeowners' insurance with your auto insurance. Choosing a bundle offer may result in a reduction in the total cost of your premiums.

Send your insurer your updated information to check whether you qualify for a lower rate if your life circumstances or driving history have changed since you first obtained your car insurance estimate. Your insurance prices may be impacted by your credit score, marital status, and the number of drivers living in your household. You might be able to acquire a lower premium by maintaining a clean driving record or raising your credit score.

#5. How to calculate car insurance costs

The Cost of Car insurance in Florida 2023

You must first determine the types of coverage you want in order to determine how much car insurance will cost. In addition to your state's minimal requirements, the type of coverage you should select is based on your financial situation, the value of your car, and a trade-off between the cost of your car insurance premiums and the type of protection you need.

Additionally, if you go through a life event like relocating to a new state or paying off a financed vehicle, your requirements for car insurance can change. You should routinely evaluate your car insurance coverage to see if you should raise your coverage limits or trim any extra coverage that you're not using.

Bodily injury liability, collision protection, and comprehensive protection are the three most expensive insurance protections. You should be aware of the general cost ranges for each type of insurance coverage before choosing which to add.

Since a full coverage policy typically costs $1,000 a year, you should assess your specific requirements and determine whether the additional cost of coverage is reasonable given the value of your car.

#6. Factors considered to calculate car insurance cost?

The Cost of Car insurance in Florida 2023

Your car insurance premium is determined by a number of factors that are considered by the insurance companies. For instance, your "riskiness" as a driver is assessed based on your age and accident history. Your auto insurance estimates will be more expensive if you are a young driver or one with a history of accidents than they would be for an older driver or someone with a good driving record.

#7. Car Insurance Rates Determinant Factors

Insurance companies use several factors in calculating car insurance rates. Factors mostly used in calculating car insurance include; age, location, the status of your car, marital status, primary transportation, ect.

    #7.1 Age

Younger drivers are viewed as carrying the highest insurance risk due to their inexperience in driving. Most insurance companies define a "young driver" as someone who is under the age of 25. As  drivers get older, they normally pose less of a danger, which could result in a reduction in your car insurance rates. 

    #7.2 Location

One of the key factor affecting the determination of your car insurance rate is the place of your domicile.  Insurance companies frequently use data from your particular zip code in addition to data from your state and county. Insurance companies also take into account the crime and motor vehicle theft rates in the neighborhood where you live and park your car, in addition to your residence's urban or rural status. 

    #7.3 Car Status

Your car may also be taken into account when calculating. Your car insurance rates and the price of the car you drive are directly related. The cost of replacing your car would be higher for the insurance company if it were damaged or totaled in an accident. However, other elements, like as if your car's make and model is a common target for thieves or is vulnerable to passenger damage, will also increase the cost. However, cars with numerous of safety features, high safety ratings, and theft-deterrent systems may help balance these expenses and reduce your premium. 

    #7.4 Marital Status

The Cost of Car insurance in Florida 2023

Married couples often enjoy greater premium savings.

When comparing auto insurance rates, being married may be advantageous. According to several insurers, married people live less dangerous lives. Married couples save between 4% - 10%  on their car insurance, while your state may allow you to save even more depending where you live.

    #7.5 Primary car usage

The typical insured driver has a personal use coverage, meaning they use their car for both personal and work-related activities. However, you might want to think about a business auto insurance policy if you use your car for work and travel to and from customers to make sure you have enough coverage. 

These characteristics are put via the insurance companies' own sophisticated algorithms. Rates may differ greatly from carrier to carrier since car insurance companies use various methods to calculate the cost of car insurance. By comparing auto insurance rates and doing your research, you might be able to save a lot of money.

#8. Florida Average Cost of Car Insurance 

Florida car insurance rates: What you should know

Florida car insurance is costly when compared to other places. In  Florida, average car insurance rates charges is $1,878 per year which is higher by 31.6% when compared to the U. S average. 

However, variables other than state boundaries affect how much auto insurance costs. Your driving history, credit history, gender, age, and marital status are all taken into account when calculating your auto insurance costs.

#9. Florida car insurance rates by company

The Cost of Car insurance in Florida 2023

Each of Florida's top car insurance companies has distinctive underwriting requirements, coverage options, price breaks, and policy provisions. The typical annual prices for full coverage for some of the biggest car insurance companies in Florida like Allstate and Geico give you an idea of what you could anticipate to pay for car insurance in Florida.

Although many drivers may prioritize getting the cheapest Florida car insurance, keep in mind that having proper coverage involves more than simply the cost. When selecting an insurance company, you might also wish to evaluate coverage options, savings, customer service rankings, and financial strength ratings.

#10. Average auto insurance premiums in Florida by marital status

Advantage of getting married, outside the honeymoon, is the average discount you get on your auto insurance. Married drivers in Florida save $81 a year on their auto insurance premiums. The $76 in national savings pale in comparison to this offer.

Average Annual Rate 

Single           $1,803.59

Couples        $1,722.90

Separation    $1,803.59

Widows        $1,762.38  

Florida has the fifth-most costly car insurance in the nation for divorced drivers. Don't be afraid to compare prices if you think your auto insurance is excessively expensive.

#11. Florida car insurance rates based on vehicle type

The make and model of the car you drive is one of the main elements in calculating your car insurance rates. Vehicle types vary in terms of their crashworthiness, parts and labor costs, and safety features. Your choice of coverage amounts and types may also be influenced by the kind of car you drive.

#12. Florida car insurance rates on average for high-risk driver 

Your car insurance rates will most likely increase if you are found guilty of a driving violation or at fault in an accident. Your auto insurance will increase in cost as you accrue more violations.

Your first minor at-fault collision in Florida will run you $598 in annual auto insurance premiums. In Florida, a DUI—one of the most serious traffic offenses result in a $861 average increase in car insurance costs.

#13. Car insurance rates in Florida based on driving history

The Cost of Car insurance in Florida 2023

Your driving record has a significant impact on your car insurance costs. Your insurance rates will probably increase if your motor vehicle record (MVR) shows that you were at fault in an accident, received a ticket, or were convicted of DUI. This is so because the cost of car insurance is determined by risk. If you have a history of reckless driving, you may be more likely to have accidents (and file claims) in the future. You might even require car insurance for high-risk drivers in Florida if you have a history of collisions, moving violations, or a DUI conviction. If you have incidents on your MVR, the following table shows how much you should expect to pay for car insurance in Florida.

driving mishap | Average annual full coverage premium in Florida | % rise in average annual premium

 Clean driving                                $2,364                                                           -

  Traffic violation                           $3,352                                                          42%

  Accident                                       $3,663                                                          55%

  DUI                                                  $4,548                                                          92%

Depending on your car insurance company, tickets, accidents, and DUIs often have a negative effect on your car insurance costs for three to five years. You can call your insurance agent or company to find out if a surcharge will remain on your policy for an extended period of time.

AUTO INSURANCE PRICES IN FLORIDA BY AGE 

Age  |   Average Annual Rate

16          $5,983.52 

17          $5,604.02 \s

18          $4,855.11 

19          $3,805.73 

20s         $2,366.51 

30s         $1,793.60 

40s         $1,755.86 

50s         $1,640.71 

60s         $1,672.37 

70s         $2,028.20

The 20th least expensive state for 16-year-olds to purchase car insurance is Florida.

#14. Florida auto insurance costs based on gender

Your Florida auto insurance rates are also influenced by your gender. Men often pay more than women at various ages because to their greater accident rates and riskier driving habits. However, women pay only marginally extra for full coverage for Florida drivers at age 40 (the age used in Bankrate's base driver profile). Average yearly full coverage premium ($2,336 for men and $2,392 for women). n most cases men pay a slightly higher amount than women. This may be contributed to the reason that, most accidents are caused by men.

#15. Average Car insurance rates in Florida based on gender

Although a driver's gender may not have as much of an impact on the cost of auto insurance as their location or age, car insurance companies nevertheless consider it when evaluating applicants. In most cases men pay a slightly higher amount than women. This may be contributed to the reason that, most accidents are caused by men.

Compare prices and request quotes online if your current auto insurance provider isn't giving you the best value for your money.

Prices of Florida car insurance for men and women

Male $1,803.59 Female $1,837.69 Average Annual Cost

#16. Average Car insurance rates in Florida based on coverage level

The quantity of coverage you carry affects the monthly premium you pay for auto insurance. To make sure you are adequately protected, it is crucial to carefully understand the coverages of your car insurance. In general, liability insurance is less expensive than low-deductible comprehensive insurance. The difference in cost between comprehensive coverage with a $500 deductible and liability-only coverage in Florida is $690.

For information on typical auto insurance premiums by coverage options, limits, and deductibles, see the chart below.

CAR INSURANCE PREMIUMS IN FLORIDA BY COVERAGE TYPE Coverage Level Average Annual Premium

Coverage Level | Average Yearly Premium

$100K/$300K/$100K Bodily Injury/Property Damage — Liability Only $1,414

$100K/$300K/$100K Bodily Injury/Property Damage — $1,000 Comprehensive/Collision $1,963

$100K/$300K/$100K Bodily Injury/Property Damage — $500 Comprehensive/Collision $2,107

$50K/$100K/$50K Bodily Injury/Property Damage — Liability Only $1,210

$50K/$100K/$50K Bodily Injury/Property Damage — $1,000 Comprehensive/Collision $1,759

$50K/$100K/$50K Bodily Injury/Property Damage — $500 Comprehensive/Collision $1,903

State Minimum — Liability Only $822

State Minimum — $1,000 Comprehensive/Collision $1,369

State Minimum — $500 Comprehensive/Collision $1,512

When paying above-average premiums for auto insurance, it pays to shop around for the best deal on coverage that works for you

#17. Car Insurance rates Florida based on location (City)

According to the Insurance Information Institute, your ZIP code affects the amount you will pay for car insurance because larger cities have more accidents and more crime (Triple-I). Despite the fact that car insurance is generally expensive in Florida, the following table shows that depending on where you live in the state, your premiums could be more or lower than average. According to the Triple-I, average Florida vehicle insurance prices vary by city depending on criteria like population density, traffic volume, the frequency of accidents, and susceptibility to theft and vandalism.

City | Average annual premium for full coverage | %age difference in average annual premium

Jacksonville          $2,230                                              -6% 

Miami                   $3,314                                                  40%

Orlando                $2,405                                                2%

Tampa                  $3,027                                                28%

Tallahassee           $2,043                                              -14% 

St. Petersburg       $2,662                                               13 %

Hialeah                 $3,405                                                 44%

Naples                  $1,947                                                  -18% 

West Palm            $3,101                                                   31%

Ocala                    $1,993                                                  -16% 

Palm Beach          $3,057                                                 29%

Gainesville           $1,782                                                   -25%

Lakeland              $2,237,                                                  -5% 

Port St. Lucie       $2300                                                   -3%

Fort Lauderdale   $2,973                                                  26% 

Bradenton            $2,153                                                   - 9% 

Pembroke Pines   $2,912                                                   23%

Cape Coral           $2,014,                                                 -15% 

Boynton Beach    $3,338                                                   41%

Lake Worth          $3,134                                                     33%

Depending on your precise location inside a city as well as other unique rating characteristics, your rates may be more or lower than the city's average premiums given above. Moving to a different ZIP code is not the most practical approach to lower your auto insurance rates, but if you are already thinking about moving, you might want to consider the typical premiums in your new neighborhood while you are analyzing your spending plan.

#18. How much car insurance coverage do you need?

Your needs and driving history will determine the best level of car insurance coverage. For a few extra dollars a month, you might, for instance, quadruple your liability coverage limits if you have the money. Additionally, if you drive an old, low-value vehicle, you generally won't require collision and comprehensive insurance.

#19. FAQs in relation to the cost of car insurance in Florida 

What is the average cost of minimum coverage in Florida?

In Florida, the average cost of an auto policy with the minimal coverage requirements is $1,101 per year, about double the national average of $565. The least expensive option for car insurance in Florida can be minimum coverage. However, for greater financial protection, the majority of insurance experts advise that you obtain higher levels of coverage.

What kind of car insurance should I get?

Liability insurance, which covers other people's personal injuries and property damage, is required almost everywhere. Personal injury protection, which covers your own injuries in an accident, is also required by several states. If your automobile is worth more than $5,000 or if you would have difficulties replacing it if it were wrecked, we also advise comprehensive and collision coverage.

How to get the best car insurance in Florida?

The finest auto insurance provider will vary for each motorist because each one brings a distinct set of circumstances to the table while shopping for coverage. Finding out what matters most to you such as a low premium or a mobile app might be worthwhile. 

Many drivers are certainly looking for the best car insurance provider they can get their hands on. When it comes to picking the best car insurance provider, your priorities in terms of coverage, car type, and other variables will play a big role. You can, however, take a few steps to aid in your hunt, by comparing rates offered by various reputable insurance companies. You can compare more than five companies. Once you've decided what you want from an insurance provider, you may compare quotes to acquire the coverage you need at a reasonable cost.

How do to calculate the cost of car insurance?

Use our online car insurance calculator (above) to estimate how much you'll pay for car insurance depending on your location, vehicle, and the level of coverage you require. This is the best approach to determine the price of auto insurance.

What will the cost of my auto insurance be?

In the US, the average cost of minimum coverage auto insurance is $785 annually, or $65 monthly. However, depending on where you reside, the type of vehicle you drive, and your driving record, your prices will change.

What is the cheapest car insurance in Florida?

Based on average premiums, Geico and State Farm both provide affordable minimum and comprehensive coverage options which makes them to be the cheapest car insurance in Florida.   But remember that the cheapest vehicle insurance provider will be different depending on your personal rating variables. It's possible that you can get better coverage for less money from another insurance company. You may be able to save money by getting quotations from several providers and comparing pricing. If you get into an accident, be sure you have enough insurance to cover the price of your medical bills, as well as the cost of your vehicle repairs.

Cost of Car insurance in Florida faqs

What is the average car insurance rate in Florida?

The average car insurance rate for state minimum coverage is $69 a month, or $828 a year. USAA and Geico have the cheapest auto insurance in Florida among carriers surveyed in our experts’ data analysis of rates for nearly all ZIP codes in the state Miami ZIP code 33125 is among the most expensive ZIP codes for full coverage insurance in the state.

Florida car insurance - How much is car insurance in Florida?

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What is the cheapest car insurance company in Florida?

With an average annual rate of $1,414, Geico is the cheapest car insurance company in Florida. At the other end of the spectrum, Allstate has the highest rate for the state. Its average auto policy costs $3,169 per year. Learn about the other insurers in our Cheapest Car Insurance Companies of 2023 rating.

Best Cheap Car Insurance in Florida for 2023 

insurance/auto/cheap-car-insurance-florida

How much is full coverage car insurance in Florida 2021?

Drivers in the Sunshine State pay an average of $2,364 annually for full coverage, according to Bankrate’s 2021 study of average annual full coverage car insurance rates from Quadrant Information Services. How much is car insurance in Florida per month? For full coverage, drivers pay about $197 each month, on average.

Average Cost of Car Insurance in Florida in 2023

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How much is car insurance after a DUI in Florida?

A DUI conviction can seriously impact your auto insurance rates, increasing Florida’s annual average premium to $3,222. However, average costs can range from $1,737 per year with State Farm to $4,228 per year with Nationwide. How Much Is High Coverage Car Insurance in Florida?

Best Cheap Car Insurance in Florida for 2023 

insurance/auto/cost-of-car-insurance

What is the average premium for car insurance in Florida?

In Florida, the average premium for car insurance is $213 per month. Geico has the cheapest car insurance rates in Florida, at an average annual rate of $1,554 a year. In Florida, the average premium for car insurance is $213 per month. The price for the same coverage may differ between companies, which is true of every auto insurance company.

Average Car Insurance Cost in Florida (2023 Rates)

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How much is auto insurance for a 40-year-old in Florida?

The average annual cost of auto insurance in Florida for a 40-year-old driver with a clean driving record purchasing a full coverage policy is $2,208. The state minimum auto insurance coverage for the same 40-year-old driver would only cost an average of $1,123 per year. Pricing varies significantly with your driving profile.

Average Car Insurance Costs in Florida (2023)

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