Florida Car Insurance

This page will help Florida vehicle owners find the best deal on Florida car insurance.

The population of Florida was estimated to be well over 20 million in 2016. The state’s burgeoning resident population makes Florida the 3^rd most populous state in the nation. People who live in Florida have a median age of about 41.8 years. Approximately 15.7 percent of Florida residents live at or below the poverty level. The state unemployment rate as of 2017 is down around 5 percent, quite close to the national average of 4.7 percent. Unfortunately, more than 23 percent of Florida drivers are driving uninsured vehicles, a travesty when compared to the national average of 12.6 percent.

You may wonder what the statewide average annual premium is for car insurance in Florida.

Unfortunately, statewide averages on car insurance premiums do not serve much of a purpose to most U.S. citizens. Statewide averages are often based on the parameters of the “average” driver. So, unless you happen to be a 35-year-old single female with a clean driving record, a full time job, and a 2015 4-door Honda Civic that you drive 20,000 to 30,000 miles a year (for instance), you won’t find much use for statewide average insurance quotes. Instead, your search for cheap Florida car insurance might consist of zip code comparisons within the state of Florida. This would provide a more accurate assessment of standard premium rates.

Just for fun, the “average” annual premium on Florida auto insurance was around $1,400 in 2016, according to data obtained from insure.com. This figure is not too much higher than the national average quote for car insurance, which was about $1,325.

Florida car insurance rates are volatile, to say the least. This is partly because each insurance company has its own way of calculating premiums, based on the zip code where the vehicle is parked, the driving record of the vehicle owner, and specific state laws, among other things.

Premium rates are also affected by population density, weather patterns, and crime rates (particularly car theft, DUI, and speeding), as well as by the percentage of uninsured drivers on the road, to name just a few of the elements taken into account by underwriters who calculate auto insurance premiums. Even within the same zip code, car insurance premium rates will still vary wildly, often by more than a thousand dollars a year, based on the demographics and lifestyle of the vehicle owner.

Read on for a detailed analysis of the cheapest and the priciest zip codes for Florida car insurance. You’ll also find a list of Florida’s favorite car insurance carriers, Florida’s largest car insurance carriers, an overview of the types of insurance Florida drivers need, some unusual Florida state laws, and other info pertaining to Florida car insurance.

Best Car Insurance Companies in Florida

The top ten car insurance companies in the United States are Allstate, State Farm, Geico, Progressive, Nationwide, AAA, Liberty Mutual, 21^st Century, GMAC, and AIG, in that order. Recently, a group of researchers at insure.com surveyed a sample of insured drivers in the state of Florida. These drivers were asked to rank Florida car insurance companies based on customer experience, premium rates, and insurance payout. These aspects are closely interrelated, as customer experience is primarily determined by low premium rates and swift payout in the event of an accident.

According to the data from the survey, the top providers of Florida car insurance in terms of customer service are USAA, State Farm Insurance, Allstate Insurance, Travelers Group, and Geico, in that order. In terms of claims service, Florida’s top car insurance providers are USAA, Travelers Group, Liberty Mutual, Geico, and Progressive, in that order. In terms of sheer value for the price, Florida’s favorites are USAA, Travelers Group, Progressive, State Farm Insurance, and Geico, in that order.

Auto insurance companies are also ranked in order of the dollar amount of annual premiums written. Here’s a list of the ten largest Florida car insurance companies in terms of premiums written, which is an indication of the company’s market share. This information was sourced from A.M. Best, a well regarded independent rater of the financial strength of insurance companies.

What Types Of Car Insurance Do Florida Drivers Need?

Aside from buying basic Florida car insurance above the legally required liability and personal protection limits, it is wise for drivers in Florida to also purchase uninsured motorist insurance (UMI) and comprehensive coverage (OTC).

The fact is that 23 percent of Florida drivers operate uninsured vehicles. That’s almost one out of every four drivers on the road without insurance coverage. UMI covers the costs of accidents with uninsured drivers. As for comprehensive coverage, between June and November of every year, the state of Florida gets pelted with tornadoes and tropical storms that are part of the infamous Atlantic hurricane season. With comprehensive coverage, the insurance company will pay the cost of weather damage and/or flood damage to your vehicle, among other non collision incidents.

Florida drivers might also consider MedPay coverage, which covers medical costs and/or funeral expenses resulting from an accident, regardless of who is at fault.

Unusual Florida Car Insurance Laws

• In Florida, drivers over the age of 80 must renew their drivers licenses every six years, as opposed to every eight years for younger people.
• For people convicted of DUI, the state of Florida issues an FR-44 form instead of an SR-22 form. They are approximately the same thing, but the FR-44 comes with higher liability limits.
• In Florida, personal vehicle registrations issued in your name expire on your birthday at midnight. So don’t stay out too late at the party.
• You need a license to ride a skateboard in Florida.
• In Sarasota, the penalty for hitting a pedestrian with your vehicle is a $78 fine. Be careful not to make too many enemies in Sarasota.

Best And Worst Zip Codes For Florida Car Insurance

Here are some of the priciest zip codes for Florida car insurance, where annual premium rates can sometimes exceed $3,000. Based on the parameters of a typical, “average” driver demographic, this list features the four zip codes where Florida car insurance premium costs are the highest. This data was compiled from city-data.com, carinsurance.com, carinsurance.org, zip-codes.com, bls.gov, and census.gov, among other statistical websites.

The median resident age in this zip code is 37.3 years, lower than the overall state average of 41.8 years. The population density is considered very high for the area. The poverty rate is more than double the state average, and unemployment is nearly four times the state average. This can explain why this zip code has some of the highest rates on Florida car insurance. In fact, this zip code is ranked as the 9^th most expensive zip code in America to buy car insurance.

The poverty rate in this urban zip code is well over twice the state average of 15.7 percent, while the unemployment rate is nearly three times the state average of about 5 percent. A quite high population density is the final factor for the (relatively) sky high car insurance rates in this neighborhood. The “average” annual premium rate on car insurance here is $2,248.

This zip code covers a land area of just over 7 square miles, and encompasses parts of West Little River and Gladeview, along with smaller parts of Pinewood, Miami, Hialeah, Brownsville, and Westview. Unemployment in this neighborhood is nearly four times the state average. The poverty rate is well over twice the state average. This zip code, more likely than not, has a relatively high percentage of uninsured drivers.

This urban zip code is located almost entirely in the city of Miami. Florida car insurance is expensive here for primarily the same reasons listed above: A densely packed population, combined with almost triple the state average unemployment rate, and poverty levels at almost double the state average. It is a safe guess that many drivers in this neighborhood are uninsured.

In the cheapest zip codes for Florida car insurance, the “average” annual premium rates are somewhere around $1,100, according to quote comparisons on carinsurance.com. Here is an overview of four of the cheapest zip codes for buying Florida car insurance policies. Based on the data, it would seem that all of Florida’s cheapest towns to buy car insurance are located within 20 miles of Gainesville.

This rural zip code has a median resident age of 32.8 years, nearly a decade younger than the state average of 41.8 years. The indication is that there are not a lot senior communities in this area. Unemployment and poverty rates are high above state averages. It must be the sparse population of this zip code that allows for some very cheap premium rates on Florida car insurance. More than half of Waldo’s residents own two or more vehicles.

The poverty rate is well below the state average in this zip code, even though unemployment is slightly above the state average. Once again, the sparse population allows for cheap rates on car insurance within this neighborhood.

The exceedingly low unemployment and poverty rates in this zip code are something Florida can be proud of. The low population density drives car insurance premium rates down even further. There are probably fewer uninsured drivers in this neighborhood than there are in most other Florida zip codes.

The median age in this zip code is 55.8 years. This rural town of about 3,500 residents must be a good place for seniors to retire. Population density, unemployment, and poverty levels are all far below the state average. Also, seniors get a discount on Florida car insurance.

Although rates will vary, Florida is by no means the cheapest state to buy car insurance in America. None of the 10 cheapest zip codes in America to buy car insurance are located in the state of Florida.

All in all, Florida has 1,472 zip codes in 527 cities across 67 counties, from Alachua to Zolfo Springs and everywhere in between. Other things being equal, there is a difference of more than a $1,300 in average annual car insurance premium rates between the cheapest zip code and the most expensive zip code in the sunny state of Florida.

This information should give you a general idea of the approximate cost of Florida car insurance. You can learn more about your premium rates by comparing online quotes.

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