Best Auto Insurance in Florida To secure your finances

Do you live in Florida and just bought a new car? Are you confused about which car insurance would be the best for you but don't know any details? Follow this article to learn about the best auto insurance in Florida and what kind of perks you can get from good car insurance.

Finding the best and most suitable car insurance in Florida for your specific needs can be confusing and difficult and you may sometimes not even want to get into the hassle of getting auto insurance, but of course, with the law mandating every car owner to have insurance, there’s no way around it.

Getting insurance can put you at ease with the thought that if anything happens to your precious car the insurance company would cover it. Especially when you live in a state like Florida insurance becomes somewhat of a need. With the erratic weather conditions prevailing in the Sunshine State, your car can be a bit more prone to getting into an accident.

When finding suitable insurance for your car you want to check all the boxes in terms of full coverage insurance, being affordable, giving you maximum benefits, and all-time available customer care to cater to your queries. You also want to have peace of mind that your insurance company will follow through with its promises if you need to make a claim, especially if you’re paying a good amount of money for an annual premium.

While the internet makes it simple to compare policies and rates, it’s still easy to get confused by all the unfamiliar terms and jargon insurance companies use. The decision-making process is also muddled by long-standing misconceptions or myths about how insurance works. Such complexities make it difficult for people to determine the type of insurance they want.

So follow this article to have most of your answers regarding the best auto insurance in Florida answered in addition to getting to know about some other important points regarding the importance and choosing the best insurance for yourself.

Table of Contents

Why do you need car insurance in Florida?

Whether you’re not sure about your insurance policy or are simply peculiar as to why it’s important, it’s quite helpful to know what you’re paying for in the name of auto insurance. Aside from being mandatory in Florida (including most of the states in the USA), car insurance is an advantageous investment because it safeguards you and your net worth as well.

It’s required by law in Florida

The number one reason why you need car insurance in Florida is that it’s a must and you can’t avoid it. If you get caught without owning an auto insurance policy, you could be fined a hefty amount or could even be sent to jail.

Not having insurance in Florida can lead to driver’s licenses and plate suspensions. That is why getting good car insurance is quite necessary. Florida is a no-fault state, which means that driver’s insurance is responsible for covering damages if an accident takes place, and it doesn’t matter to the authorities if it wasn’t the driver’s fault.

You are supposed to keep a proper record of your insurance maintained throughout your registration period. If you are caught without insurance when a cop pulls you over, they can levy a fine upon you for driving without one.

According to ValuePenguin, for being caught for the first time without insurance, some of the penalties you may get include:

  • License suspension until proof of insurance is provided
  • A $150 license reinstatement fee
  • Suspension of your license plates

If you are able to prove that you had obtained auto insurance before the plate or license suspension takes place then your fine might be renounced.

According to the law of Florida if you are caught for the second time without auto insurance.  you can face an even higher amount of fine than you were charged the last time. If you are caught driving without insurance a second time within a three-year period, your license and plate suspension can last up to three years or until you give them proof of having insurance coverage. Restoration fines also increase to $250. Three or more violations will require a $500 Restoration fee.

It’s also worth noting that the government won’t unsuspend your license until you show proof that you have insurance coverage. Another thing worth mentioning is that buying insurance on a suspended license is extremely expensive. SR-22 insurance, as it’s known, can cost anywhere from 150% to 400% of a regular policy when you have a suspended license.

Letting the insurance companies swindle you for SR-22 car insurance coverage is the “hidden fee” of driving uninsured, and can cost you $10,000+ in installments until your points expire.

To reimburse someone else for an accident you caused

The reason why the government makes auto insurance a necessity is the same reason it mandates seat belts for. To protect the driver from any kind of dangerous and difficult situations like, suppose you get into a car accident. You tried to pull out of an Mc Donalds during rush hour but you couldn’t see a car speeding in the right-hand lane towards you, so they crashed into you. It’s a sheer mistake, and it can happen any day.

In this case, if both cars are extremely damaged and the other driver and their passengers have certain injuries. And if you don’t have auto insurance, the other driver and their passenger can sue you for 100% of their medical expenses, loss of use, motor vehicle damage, and more. You’ll be quite fortunate if your total bill comes to less than $100,000.

That can be one expensive trip to Mcdonald’s, keeping in mind that these numbers are without the cost of the repair of the damage on your own car. It’s important to point out that in a case where an uninsured driver causes an accident, everyone gets in trouble, not just the uninsured driver.

The accident victim suffers when they are not able to access the funds they need so their debt with interest will accumulate. The driver who caused the accident has to wait for the financial bomb to drop when personal injury law gets involved and the victim’s lawyer multiplies their victim’s entitled compensation while adding their own commission.

The government also suffers in this situation as it has to devote courtroom time, public attorneys, and tax money to the unavoidable dreadful legal battle between the drivers. They also have to pay for the damage to public property such as fences and banisters.

The main thing is that this entire situation could’ve been avoided if the uninsured driver had just paid $1,000 for a 50/100/50 insurance policy ($50,000 bodily injury per person, $100,000 bodily injury per accident, $50,000 property damage liability). That’s why governments have made insurance compulsory for car drivers in Florida.

To recompense you for an accident caused by another driver

On the contrary, when someone else hits your car, you’ll be glad the government mandated them to have insurance. The reason is that if you’re hit by an uninsured driver, it may take you a very long time to get the money you’re entitled to. Until you get paid by the person who caused the accident you’ll be paying for everything out of your pocket be it medical bills, car repairs, or any sort of payment.

That’s why they call it liability coverage. The other driver is “liable” for damage to your car and your medical bills (bodily injury liability coverage). This is one of the reasons governments haven’t made it a compulsion to get collision or comprehensive insurance; to be honest, they don’t care if you damage your stuff. They just want to be sure you can cover someone else’s bills including theirs that is when you damage any public property.

You need good auto insurance to get your car fixed no matter who caused the accident

Every driver driving in the state of Florida needs basic insurance, but only some need collision and comprehensive insurance. Collision insurance helps to cover the cost of repairing/replacing your car if you cause an accident or if the other driver’s insurance doesn’t cover the cost of your repairs and also if the other driver doesn’t have insurance at all.

Comprehensive insurance covers damage to your car as a result of an “incident” such as vandalism, theft, floods, falling trees, and damage caused by harsh weather which is something Florida residents are very susceptible to.

Now the question is do you need comprehensive and collision issuance? It all depends on how much money you have. Are you rich and can afford extensive bills? If your car were to be seriously damaged tomorrow, could you pay out-of-pocket for repairs, or can you afford to get a new one?

If you don’t qualify as someone who has enough financial backing then paying for collision and comprehensive insurance upfront can bring peace of mind and prevent a big financial load. That’s especially true if you depend on your car for your health or income.

If your car isn’t as expensive and you can actually pay for repairs or even replace your car with a new car then you don’t have to bother getting comprehensive and collision insurance. Basic auto insurance would do the trick for you.

To protect your finances

Let’s just suppose that you cause an $80,000 accident but only have $8,000 in your bank account. The other driver’s lawyers can legally seize additional assets in your name to cover what you owe to the person you caused the damage to.

That can include your investments, your car, and even your house. You can lose everything in just a small accident. Something to keep in mind is that liability insurance doesn’t protect you; it protects your net worth. It creates a demarcation between the victim’s entitled compensation and all of your stuff. That’s why when you buy a home, you should increase your auto insurance liability limits. 50/100/50 is a much wider gap to protect your asset which is your home.

To help cover your passenger’s medical bills

If you are found to be guilty of causing an accident and the passenger in your car gets injured as well then you’ll have to pay their medical bills too. This can include both property damage and medical bills.

Let’s just suppose, you’re driving a friend to their fair where they are opening up a  stall for gadget display, and they have tons of expensive technological equipment in your trunk. You cause an accident, they get injured, and their stuff gets destroyed. Now you’re supposed to by law pay for their medical bills and replace their expensive equipment.

Good insurance brings peace of mind to everyone

The final reason you need the best auto insurance in Florida is that it brings peace of mind to everyone. It would be quite terrifying knowing that every time you leave the house, you can be hit by another driver and get stuck with $136,261 worth of bills until the other driver pays you back. You would be really scared to leave your house or might even consider selling your car.

That is why it is much preferred that a system is maintained where everyone has insurance, especially with so many mindless drivers on the road these days. An auto insurance policy doesn’t make them good drivers, but it does ensure that you don’t get exploited by their carelessness.

What is Florida’s no-fault law?

One of the most important factors to take into account while researching the best auto insurance in Florida is the state of Florida’s no-fault law which says that all drivers in an accident started by making claims to their own PIP which stands for personal injury protection. Payments from PIP coverage are limited to 80 percent of the medical bills. If someone suffers a serious injury under Florida law, the driver at fault for the accident can pay for additional costs through their bodily injury liability.

According to NerdWallet, serious injuries under Florida law include

  • Significant disfigurement
  • Bone fracture
  • Permanent limitation of an internal organ or body part
  • Largely full disability for 90 days
  • Substantial restriction of a bodily system or function

If a driver that has been a victim in an accident has an injury that meets one of the above-mentioned criteria, they can start a lawsuit against the person at fault. If the at-fault driver has bodily injury liability, they can use it to pay for the cost of the medical bills. However, if they only have minimum coverage, they may have to pay for the expenses out of their pocket.

The cost of auto insurance in Florida

The cost of automobile insurance installments can vary widely across different driver profiles and policy coverage levels. For example, although the average cost of car insurance in Florida is $2,208 per year, drivers with a basic coverage policy only pay about $1,123 per year. On the contrary, this annual average jumps to $2,902 if you have a violation on your record and $4,913 if you add a young driver to your insurance policy.

According to our analysis, the cost of auto insurance in Florida is higher than in the rest of the states of The USA. The difference is seen to be almost a $1,000+  increase from the U.S.’s overall average of $1,442 per year.

The company you buy car insurance from also affects the cost of your installments. A full coverage policy, let’s say for example from GEICO costs $1,337 per year in Florida, whereas the same coverage from Progressive costs $2,728 per year.

What are some of the best auto insurance in Florida?

Now that we have gone over some of the reasons why you need auto insurance and the average cost of car insurance, we can look at some of the companies to identify to be the best auto insurance in Florida so that it becomes easier for you to decide on which company to go for when looking for auto insurance.

Currently, there are four best auto insurance companies in Florida and the reasons that set them apart from the rest of the companies in Florida

  • Allstate: It is the cheapest car Insurance company in Florida
  • Geico: It is known as being the best Florida car insurance for customer service
  • State Farm: It is the best Florida car insurance for a reduced installment program
  • Progressive: It offers the best discounts on auto insurance in Florida

Allstate

Florida is one of the most costly states for car insurance in the United States. Allstate is one of the major providers of automobile insurance in the state of Florida. It provides all the services required for a good car insurance company at the most affordable rate.

Allstate offers an extensive range of excellent auto insurance coverage choices. It has a highly functional and up-to-par web presence and offers many ways to provide discounts to the policyholders of Allstate insurance.

Drivers that are Allstate policyholders can get discounts by digitally managing their insurance, and also by being good drivers on the road and gaining the Safe Driver Bonus. Allstate does have the second-highest installment rate amongst the companies on our list so it may not be the best fit for consumers on a tight budget.

Types of Coverage

Allstate offers different types of coverage options to its policyholders.

Standard Car Insurance Coverage

Allstate provides a variety of coverage options for its policyholders

Collision Coverage

If you are involved in an accident, your collision coverage handles the cost of any damages made to your vehicle.

Comprehensive Coverage

Comprehensive coverage deals with damages related to natural incidents, like hail, fallen trees, theft, and vandalism.

Liability Coverage

If you are at fault in an accident, liability protection can cover property damage, injury, or even the death of the other individual involved in the accident.

Medical Payments Coverage

Medical payments coverage includes protection for any injuries affecting you and any of your passengers that were endured during an accident.

Uninsured and Underinsured Motorist Coverage

If you are involved in an accident with an uninsured, at-fault driver, uninsured and underinsured motorist coverage can help cover any damages you sustain.

Personal Injury Protection

Personal injury protection, or PIP, protects if you sustain an injury in an accident that is covered by the insurance.

Optional Coverage

Personal Umbrella Policy

If you need more protection, an umbrella policy provides extended coverage beyond the limits of the standard policy.

Rental Reimbursement Coverage

If your vehicle is damaged in an accident you can purchase additional rental compensation coverage to cover a rental car or other eligible modes of transport while your vehicle is being repaired.

Pros

  • It can generate good revenue
  • It ranks as number 1 for customer satisfaction in Florida
  • It has lower-than-average premiums

Cons

  • It has higher-than-average complaints from NAIC
  • Claims satisfaction guarantee not in all states
  • Doesn’t offer a multi-car discount

Geico

No matter how simple it seems, filing a claim is never trouble-free. Geico’s customer service division is aware of this and consistently receives high reviews for the way it handles its policyholders. Geico can be a terrific option if you’re seeking solid digital assets, rates that are below average, and a big list of discounts.

Your insurance rates may be reduced if you’re a federal employee, a veteran, or active-duty military personnel. It may also be cheaper to be a high-achieving student. However, there is one drawback, its carrier’s policies are quite straightforward because it doesn’t offer as many endorsement possibilities as some other businesses.

Types of Coverage

GEICO’s auto insurance includes the following coverage:

Liability Coverages

include

Bodily injury liability

This coverage pays for damages for bodily injuries or death resulting from accidents where you are at fault.

Property damage liability

This coverage pays for damages to property resulting from accidents where you are at fault.

Medical Coverages

Medical payments coverage pays for medical expenses resulting from a car accident.

Personal Injury Protection (PIP): PIP covers your medical treatments, lost wages, or other accident-related expenses, regardless of who was at fault in the accident.

Uninsured Motorist Coverages

Uninsured and underinsured motorist coverage protect you in case you’re in an accident where the other driver is at fault and either is uninsured or has insufficient coverage to pay your claim.

Vehicle Coverages

There are two parts to vehicle coverage

Collision coverage pays for damage to your vehicle when it hits, or is hit, by another vehicle or object, such as a deer.

Comprehensive coverage pays for damage to your car resulting from theft, vandalism, storms, or other covered losses. You can lower your monthly premiums by raising your collision and comprehensive deductibles.

Some additional coverages that GEICO offers are

  • Emergency road service
  • Rental reimbursement
  • Mechanical breakdown insurance
Pros
  • Excellent financial strength
  • Highly rated mobile app
  • Affordable policies
Cons
  • Lower than average claims satisfaction from NAIC
  • Few local agents
  • Higher than average complaint index

State Farm

offers distinctive discount choices including Drive Safe & SaveTM, which analyzes your driving patterns using your smartphone app. As the name suggests, you can save money by driving safely. If you’re looking for the cheapest auto insurance in Florida, State Farm might be a fantastic option because it has the lowest average full coverage rate on our list.

In terms of private passenger insurance, the company has a lower-than-average complaint index score from the National Association of Insurance Commissioners (NAIC). However, State Farm has received more complaints overall than the benchmark, which may mean that some policyholders have been dissatisfied with State Farm a bit more.

Types of Coverage

State Farm offers the following coverage options:

Collision

State Farm requires a deductible before policyholders receive benefits under its collision insurance coverage, which is restricted to the vehicle’s real cash worth. Only accidents in which your automobile was hit(including those involving just one car) are covered; accidents involving falling or flying objects are not.

Liability

If you’re found at fault or legally accountable for an accident, the majority of states will require you to have this sort of coverage, which helps cover the costs of another driver’s medical bills or property damage. You’ll need to obtain the bare minimum that your state mandates.

Comprehensive

When you have comprehensive coverage, your cars are covered against losses like animal collisions, car theft, fires, explosions, and severe weather, but not against collisions with other cars. This kind of coverage is required by several vehicle loan lenders.

Car Rental and Travel Expenses

After a qualifying accident, State Farm will cover your rental car costs or give you a refund. If you are unable to drive your vehicle owing to damage, the company may additionally cover your trip costs, including food and lodging. You must currently have comprehensive or collision insurance to be eligible.

Uninsured Motor Vehicles

State Farm will cover costs like your medical bills, automobile damage (in some areas), and even lost wages if an underinsured motorist strikes your car and you are not found at fault.

Medical Payments

A covered person—either you, any passengers in your car at the time of the accident or your immediate family members—are covered for medical and burial costs if they are hurt in a car accident. This benefit is sometimes referred to as Med Pay.

Rideshare Drivers

To protect themselves in the event of a car accident or if a passenger makes a claim against them for injuries, policyholders who drive for rideshare firms can get supplemental insurance. State Farm claims that the cost of coverage often adds 15% to 20% to the cost of your auto insurance.

Pros

  • Wide customer service network
  • Rideshare coverage available
  • More discounts than competitors

Cons

  • Higher than-average complaints from NAIC
  • No gap insurance

Progressive

Progressive has a page full of discounts, and most of them are simple to get. Drivers who choose to bundle their plans could significantly reduce their Florida auto insurance costs. Despite having the highest average full coverage premium on our list, Progressive’s advantages might outweigh the drawbacks. The organization offers a variety of online resources that could speed up and simplify your search for Florida’s top vehicle insurance.

Your budget-based coverage options are generated via its Name Your Price feature, and you can even compare prices from various providers directly on Progressive’s website. Additionally, the national carrier delivers its Snapshot telematics service, which offers clients chances to save on premiums based on their driving patterns.

Types of Coverage

Progressive offers four main types of coverage: liability, comprehensive and collision, uninsured and underinsured motorist, and roadside assistance.

Liability Coverage

Most states mandate liability insurance, which covers property damage and third-party injuries resulting from auto accidents. Damage to automobiles, property and other individuals is covered, as are medical expenses and court costs.

Comprehensive and Collision Coverage

Regardless of who was at blame for the accident, comprehensive and collision insurance will cover the cost of repairing or replacing the insured’s car. These are separate kinds of insurance, though.

Collision insurance covers accidents involving other cars or inanimate things, such as a fender bender or a collision with a pole. Comprehensive insurance covers circumstances beyond one’s control, including running over a deer or having a tree limb fall onto a car. Comprehensive insurance, which has a deductible, also includes coverage for losses brought on by fire, theft, vandalism, and other calamities.

Uninsured and Underinsured Motorist

Accidents brought on by drivers with minimal or no insurance protection are covered by uninsured and underinsured motorist insurance. In particular, uninsured insurance protects the insured when hit by a driver who has no vehicle insurance at all, whereas underinsured insurance shields the insured when struck by a driver who has insufficient insurance to cover the losses they caused. Both underinsurance and non-insurance are provided and required in several states.

Roadside Assistance

Progressive’s Roadside Assistance offers a choice of 24/7 services to assist in an emergency if you want a little more safety while driving. Aguero, a supplier of driver assistance services frequently employed by insurance companies, offers roadside help.

Pros

  • Multiple options for coverage
  • Wide range of discounts
  • Name Your Price Tool

Cons

  • Average customer satisfaction in the region
  • Lower-than-average claims satisfaction
  • Higher than-average premiums

Self-Insurance in Florida

In Florida, drivers are provided with the option of self-insurance, instead of just purchasing the minimum car insurance coverage required by Florida law. Drivers who qualify for self-insurance can obtain a certificate from the insurance department. To qualify, you must have at least $40,000 net worth which is free of creditor claims and liens for the first car and $20,000 for each additional registered vehicle.

Registered auto owners who self-insure must renew their certificate each year and prove their net worth to waive the minimum Florida car insurance requirements for drivers. Self-insurance holders are supposed to pay for the damages and injuries that are incurred in any accident they are involved in.

How to get the best auto insurance in Florida?

Almost all drivers probably want to be covered by the best auto insurance company they can find. Since every driver’s needs are different and can depend on characteristics like vehicle type and coverage requirements, finding the best car insurance mostly depends on what aspects of auto insurance are more important to you. However, you can take some steps to help you in your search.

Consider minimum insurance requirements in Florida

Florida is a no-fault state, which means that whoever is responsible for the accident it is mandatory for both parties to file for medical claims at least initially. The at-fault driver would be held accountable for property damages.

The state of Florida’s minimum car insurance laws are somewhat distinct, the state only requires personal injury protection (PIP) and property damage coverage. Bodily injury liability coverage is not usually required.

However, the state does have a “financial responsibility law” that obligates you to provide proof of your ability to pay for the damages you cause in an accident. Although auto insurance is not the only way to convince the state, you could post a bond, most drivers opt to purchase a policy that includes bodily injury liability coverage.

Despite the fact that Florida’s minimum insurance requirements serve to contain the state’s high premiums, drivers may incur higher out-of-pocket costs in a more serious accident where injuries or damages surpass the minimum limits.

Although major events like automobile accidents cannot be anticipated in advance, buying extra coverage up front, such as optional collision and comprehensive coverage as well as uninsured and underinsured motorist coverage, may assist reduce unforeseen financial losses.

Consider lender requirements

You could at times need more insurance than simply the bare minimum required by your state if you have a loan or lease on your car. Lenders and lessors typically demand full coverage, which expands your policy to include comprehensive and collision insurance. Instead of only covering damage you do to another party, this kind of coverage offers significant financial protection for both collision and non-collision damage to your car.

Additionally, lessors frequently demand that you carry liability limits above the legal minimums. If your new car is stolen or totaled, gap insurance will cover the difference between the loan amount and the vehicle’s real cash worth. When compared to your lender, your auto insurer will often offer gap coverage at a lower price.

Consider your individual needs

Every auto driver brings a different set of circumstances to the table when shopping for auto insurance. Your situation will have an impact on the business, level, and kind of coverage, endorsements, and discounts you select. If you have a teen driver, for instance, you might look for businesses that provide student discounts to help you lower your premium.

You may be viewed as a high-risk driver if you have a history of tickets, accidents, DUI convictions, or a combination of any of these infractions on your driving record. You might need to conduct a little extra research to discover the finest insurance company because your options may be limited.

Conclusion

Most states require drivers to have automobile insurance. And Florida is one of them. However, having auto insurance is also a way to protect yourself from the potentially crippling costs of a large accident claim. Even if you are not at fault in a car accident, the costs may mount. Executing the required actions and paying for vehicle repairs or replacements, as well as attending court, can be time-consuming and costly.

As a result, it is critical to obtain the appropriate level of auto insurance protection from a company known for providing exceptional claims service and market-leading insurance products. Following an accident, having excellent claims service can save you time and frustration by expediting procedures for everything from renting a car and arranging a tow truck to paying for repairs and medical expenses.

Tony Bennett

Tony Bennett

Tony Benett makes his living in the insurance industry by teaching and consulting. He is also recognized by the legal profession as an expert on insurance coverages. His insurance experience includes having worked at the company level, owned an independent general agency and having worked for an insurance association. He has received various certificates over the past few years and helps his clients and readers by giving them a realistic outlook on what they can expect to achieve within their set targets. At Insurance Noon, he is known for his in-depth analysis and attention to details with accuracy. He has been published as one of the most referred agents by his peers in the insurance community. Tony loves the outdoors and most sport events. His passion other than providing excellent advice is playing golf.