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HomeTop Global NewsBest Car Insurance in Florida October 2023

Best Car Insurance in Florida October 2023


In Florida, car insurance is a must-have for drivers, with residents required to maintain a minimum of $10,000 in personal injury protection (PIP) and $10,000 in property damage liability.

Whether you rely on I-4 or I-95 for your daily commute, it’s important to ensure you’re properly covered while on the road. According to Bankrate data, the average Florida driver will spend about $3,183 for full coverage per year, much higher than the national average of $2,014 per year.  

Floridians can greatly benefit from comparison shopping for their car insurance coverage. If you’re looking for car insurance in Florida, CNBC Select looked at dozens of insurance companies in the Sunshine State and found several that stood out in terms of price and customer service. (See our methodology for more information on how we chose the top Florida car insurance companies). 

Best Florida car insurance  

Best overall  

Geico Auto Insurance

  • Cost

    The best way to estimate your costs is to request a quote

  • App available

  • Policy highlights

    Geico coverage and services are available in all 50 states and the District of Columbia and there are 16 different types of discounts available. In addition to the standard coverage options, Geico offers various optional add-ons, such as emergency roadside assistance, rental car reimbursement and mechanical breakdown insurance.

Pros

  • Lowest average rates
  • Inclusive coverage options, including high-risk drivers
  • Available nationwide

Cons

  • High premiums for high-risk drivers 
  • Fewer branches for in-person services

Who’s this for? Florida drivers looking for both low prices and high customer satisfaction ratings will find a match with Geico’s car insurance coverage. It also ranks CNBC Select’s top pick for best overall car insurance.  

Standout benefits: Geico earned a relatively high 812 out of 1,000 in J.D. Power’s overall customer satisfaction index in Florida, putting it above the industry average for the state.  

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Runner-up  

Travelers Auto Insurance

  • Cost

    The best way to estimate your costs is to request a quote

  • App available

  • Policy highlights

    Travelers auto insurance policies are affordable and backed by the sixth largest company for car insurance by market share according to the NAIC. The company also offers a number of discounts to customers, including discounts for bundling, owning a hybrid or electric car, and good student discounts.

Pros

  • Sixth largest auto insurer in the U.S. by market share
  • Many discounts available

Cons

  • Not all discounts available in every state

Who’s this for? Travelers offers affordable rates in Florida compared to other sample rates we analyzed. The company also has many discounts to help drivers save, including discounts for quoting before a policy expires, discounts for new cars less than three years old and discounts for students.  

Standout benefits: Travelers had a relatively low complaint index from the National Association of Insurance Commissioners of the companies we analyzed. It ranked seventh in customer satisfaction in Florida according to J.D. Power. 

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Best for customer satisfaction 

State Farm Auto Insurance

  • Cost

    The best way to estimate your costs is to request a quote

  • App available

  • Policy highlights

    State farm is one of the largest auto insurers based on market share and has an excellent reputation for customer satisfaction. It offers 13 discounts, including ones for safe driving and young drivers.

Pros

  • High customer satisfaction
  • Largest car insurance company in the U.S.
  • Accident forgiveness for good drivers

Cons

  • High NAIC complaint index score 
  • Doesn’t offer gap insurance

Who’s this for? For those who prioritize customer experience, State Farm tops the list of Florida insurers, earning 833 out of 1,000 possible points in J.D. Power’s customer satisfaction survey.  

Standout benefits: State Farm stands out with low complaint index scores and high scores for customer satisfaction, along with a relatively affordable average price.  

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Best for military members and veterans 

USAA Auto Insurance

  • Cost

    The best way to estimate your costs is to request a quote

  • App available

  • Policy highlights

    USAA’s auto insurance is available in all 50 states, Washington D.C. and some international locations. In addition to low rates and coverage options for unique circumstances, such as for active-duty members, customers have access to an intuitive mobile app.

Pros

  • Lowest average premium for minimum coverage 
  • Highest customer satisfaction ranking
  • Superior discounts for military members

Cons

  • Only available to military members, veterans and their immediate family members

Who’s this for? Military members and their spouses and families should consider USAA. While it’s limited to military families, it’s a strong option for those who are eligible and offers consistently low car insurance rates in Florida.  

Standout benefits: In addition to affordable prices, military members can benefit from excellent customer service, as USAA has consistently been rated highly for customer satisfaction in J.D. Power’s customer satisfaction index.  

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More on our top Florida car insurance companies 

Geico  

Geico has been in business since 1936 and has grown into one of the largest auto insurers in the U.S. It’s been featured on many of our best-of insurance lists and offers 16 different types of discounts.

J.D. Power overall customer satisfaction index rating  

812 out of 1,000 points 

NAIC company complaint index 

1.96 (1 is industry average) 

Average annual sample price for full coverage  

$3,510 

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Travelers  

Travelers first issued auto insurance in 1897, and now offers a variety of coverage across the U.S. It offers a notable discount for electric vehicles in addition to other discounts.  

J.D. Power overall customer satisfaction index rating  

879 out of 1,000 points 

NAIC company complaint index 

1.21 (1 is industry average) 

Average annual sample price for full coverage  

$3,855 

[ Return to summary ] 

State Farm 

State Farm is the largest private passenger auto insurer in the U.S. according to the NAIC, and it has earned high marks for customer satisfaction. It also offers many other types of insurance coverage, including renters and homeowners insurance, which could help you bundle policies and save. 

J.D. Power overall customer satisfaction index rating  

833 out of 1,000 points 

NAIC company complaint index 

1.41 (1 is industry average) 

Average annual sample price for full coverage  

$3,808 

 [ Return to summary ] 

USAA 

USAA is only available to those affiliated with the U.S. military, generally including military members and their spouses and children. Membership can also be passed between generations. Members have access to a number of discounts, including multi-vehicle and multi-policy discounts, a good student discount and a legacy discount. USAA also offers pay-as-you-drive car insurance and has been featured as a top pick for many other types of insurance.   

J.D. Power overall customer satisfaction index rating  

858 out of 1,000 points 

NAIC company complaint index 

1.73 (1 is industry average) 

Average annual sample price for full coverage  

$3,442 

[ Return to summary ] 

FAQs  

How much does it cost to insure a car in Florida?  

The average Florida driver spends about $3,183 for full coverage car insurance per year and $1,128 per year for minimum coverage according to Bankrate data.  

How can I lower my car insurance in Florida?  

To get the lowest auto insurance price for you, get quotes from several companies with the same coverage limits and deductibles to compare. Bundling your renters insurance or homeowners insurance with your auto insurance could also help to lower your costs. Additionally, raising your credit score could help you get a better auto insurance rate.  

What is the minimum car insurance coverage in Florida?  

Florida’s minimum car insurance includes a minimum of $10,000 in personal injury protection coverage and a minimum of $10,000 in property damage liability insurance. 

Bottom line

Floridians may pay more than the average American for car insurance coverage, but it’s possible to get the best deal for you by comparing quotes from these companies, which are highly rated for customer satisfaction and offer affordable prices.

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Why trust CNBC Select? 

Our methodology  

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.





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