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Florida car insurance prices are among the top 10 most expensive nationwide

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Not only do Floridians pay some of the highest insurance rates in the country to insure their homes. Car insurance costs in Florida are also well above the national average.

Financial information company MarketWatch completed 800 hours of research, rated 45 car insurance companies and surveyed 8,500 car insurance consumers to create a guide to the best car insurance companies based on state, age, driving record and credit score.

According to MarketWatch’s Auto Insurance Guide, Florida is in the top three states where health insurance costs the most.

Here’s where Florida ranks in car insurance prices, an average of what Floridians pay for car insurance each month, and some of the cheapest options for drivers in the Sunshine State.

Which state has the highest car insurance rates?

According to MarketWatch’s Auto Insurance Guide, Louisiana is the state with the most expensive auto insurance prices. New York follows in second place and Florida, where drivers pay an estimated $289 per month for full-coverage auto insurance, ranks third overall.

Here are the top 10 states where car insurance costs the most and the corresponding average rate for full-coverage car insurance in each state, according to MarketWatch:

  1. Louisiana, $340
  2. New York, $310
  3. Florida, $289
  4. Nevada, $281
  5. Texas, $271
  6. Pennsylvania, $269
  7. California, $260
  8. Colorado, $246
  9. Rhode Island, $244

What is the average car insurance payout in Florida?

How expensive it is to insure a car depends on whether the policy you buy has full or minimum coverage and which insurance company you buy from.

The average full-coverage car insurance policy in Florida costs about $289 per month, a whole $66 more than the national average for full-coverage car insurance prices, according to MarketWatch’s Car Insurance Guide.

Here are some other key findings about the cost of car insurance in Florida, according to MarketWatch’s Auto Insurance Guide:

  • The cheapest full-coverage car insurance option in Florida is through Geico, at an average rate of $174 per month.
  • The cheapest car insurance option with minimal liability in Florida is also through Geico, at an average rate of $54 per month.
  • The average minimum liability auto policy in Florida costs $130 per month.

Who has the most affordable car insurance in Florida?

“According to rate data, car insurance in Florida costs an average of $3,244 per year for full coverage insurance policies, which is 62% higher than the national average,” according to MarketWatch.

“Car insurance rates in Florida increased by an average of 10.1% in 2023… However, some of the nation’s top auto insurance companies offer manageable premiums, despite Florida having much more expensive coverage than the U.S. average, according to our rate data. ”

According to MarketWatch findings, the cheapest car insurance options in the state of Florida are offered by State Farm, Geico, Travelers, Mercury and Progressive. However, which option is cheapest for you depends on many different variables; such as how old you are, what city you live in, your credit score (or lack thereof), and your driving record.

To find a car insurance policy that best suits your needs, request and compare quotes from different companies, as prices are somewhat personalized based on the factors mentioned above.

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