Best Cheapest Car Insurance Rates in Tampa, Florida

Best Cheapest Car Insurance Rates in Tampa, Florida

Find Cheap Auto Insurance Quotes in Tampa, FL

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Minimum insurance in Tampa costs $3,020 on average, about $252 per month, while the city's full-coverage policy typically costs $4,440 or $370 each month. Quotes are about $970 higher than car insurance throughout the rest of Florida.

To find the most affordable insurance rates, you should compare quotes from multiple companies.


Cheapest for minimum liability

GEICO logo
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Cheapest for full coverage

GEICO logo
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Cheapest for drivers with an accident

State Farm logo
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Best for customer service

Allstate logo
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Depending on the insurer, minimum-coverage auto insurance can vary by more than $5,000. That shows why shopping around can help you save money.

Who has the cheapest insurance rates in Tampa? GEICO

GEICO and State Farm offered the most affordable rates for a minimum-liability policy in Florida. On average, these companies charge less than $2,000 per year.

This graph identifies and ranks the three companies in Tampa, Florida, with the best rates for insuring our sample driver's car
This graph identifies and ranks the three companies in Tampa, Florida, with the best rates for insuring our sample driver's car

Find Cheap Auto Insurance Quotes in Tampa, FL

Currently insured?
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A minimum-coverage policy comes with the lowest amount of coverage required by Florida law. Insurance costs tend to climb in densely populated areas. Tampa is the largest city in the Tampa Bay area and the third-most populated city in Florida, so it's no surprise insurance rates are higher than the state average.

The minimum-liability policy is your cheapest option for coverage, but it might not be the best for your individual needs. Keep in mind that a minimum policy does not cover damage to your vehicle. If you get into an accident and severely damage your car, your insurance won't cover the costs of the damage.

RankCompanyAnnual rate
1GEICO$1,469
2State Farm$1,869
3MetLife$2,391
4Direct General$2,525
5Progressive$3,766
6Allstate$6,097

Cheapest full-coverage policy for Tampa drivers? GEICO

The Tampa insurance company with the cheapest full-coverage policy is GEICO, with an average premium of $2,331 per year. If you're looking for an alternative, the second-cheapest option is State Farm, which costs $693 more than GEICO on average.

RankCompanyAnnual premium
1GEICO$2,331
2State Farm$3,024
3Direct General$3,983
4MetLife$4,570
5Progressive$5,289
6Allstate$7,442

A full-coverage policy costs more than a minimum-liability policy but offers more protection. Namely, it comes with comprehensive and collision coverage.

  • Comprehensive coverage financially protects you from damage caused by events out of your control, known as "acts of God." Those events may include natural disasters, theft, vandalism and fires.
  • Collision coverage protects you from damage caused by driving into another vehicle or object. For example, if you crash into another car, drive into a ditch or flip your car over, collision coverage would pay to fix your car’s damage.

If your car is less than 10 years old or worth more than $3,000, you'll benefit the most from purchasing a full-coverage policy. But if your car isn't worth much, then investing in a full-coverage policy might not be worth it. You could end up spending more on insurance than your actual vehicle is worth.

Cheapest full coverage for young drivers? GEICO

Young drivers in Tampa will find the cheapest insurance quotes with GEICO, which has an average annual cost of $4,070 — slightly cheaper than the city average.

RankCompanyAnnual rate
1GEICO$4,070
2Direct General$5,085
3State Farm$5,334
4MetLife$6,160
5Progressive$9,751
6Allstate$12,429

Age is one of the biggest factors that affects insurance rates. Young people typically pay more for car insurance, on average, than middle-aged drivers. Teenage drivers are the most likely to be involved in an accident out of any group, making them a risk to insure.

In fact, the average cost of full-coverage insurance for young people is nearly twice the cost for drivers in their 30s.

There are additional steps every driver, especially young ones, should take to mitigate insurance costs:

  • Combine plans with parents or relatives from a low-risk group. Rates for a combined or multicar insurance plan are more expensive than a single car or driver rate. However, a combined plan is less expensive than having two separate policies.
  • Look for discounts. Most insurers offer a menu of discounts to drivers. You can receive discounts for achieving good grades in school, attending a defensive driving course and installing anti-theft devices in your car.
  • Gather quotes from more insurers. The difference between the cheapest and most expensive insurer for young Tampa drivers is more than $8,000. Research smaller insurers as well as widely known companies to see if they have affordable quotes.

Cheapest insurer for drivers with an accident history

Drivers with a history of even a single accident know that it weighs heavily on insurance costs. Insurance premiums increase invariably after an accident. The companies that increased prices the least following an accident were:

  • State Farm
  • GEICO
  • Direct General
RankCompanyRate before accidentRate after accidentDifference
1State Farm$3,024$3,599$575
2GEICO$2,331$3,365$1,034
3Direct General$3,983$5,453$1,470
4Progressive$5,289$7,481$2,192
5MetLife$4,570$7,607$3,037
6Allstate$7,442$10,707$3,265

Accidents may cause your premiums to increase and disqualify you from good and safe driver discounts. It's important that when you ask around for quotes, you also ask how an accident will impact your rates.

Best auto insurers in Tampa by customer service

When searching for the best insurer for your needs, it's important to consider both the price and service quality. The companies with the best service, measured by the frequency of customer complaints, are Amica, Florida Farm Bureau, Southern-Owners and Progressive.

Customers of Amica, in particular, have noted that agents are friendly and go out of their way to ensure a smooth claims process. Meanwhile, GEICO, which has the cheapest minimum-coverage and full-coverage policy options, is in the middle when it comes to customer service. Consider whether the low cost is worth receiving average or even substandard customer service.

RankCompanyComplaint Index
1Amica0.06
2Florida Farm Bureau0.07
3Southern-Owners0.10
4Progressive0.10
5Safeco0.11
6State Farm0.12
7Mercury0.12
8Allstate0.12
9MetLife0.13
10GEICO0.14
11USAA0.14
12Esurance0.19
13Liberty Mutual0.25
14Hartford0.32
15Security National0.34
16Infinity0.49
17Direct General0.76
18United Automobile Insurance1.16
19Windhaven1.24
20Ocean Harbor2.44
Insurers were selected based on market share and quote availability. Complaint Index information is drawn from the National Association of Insurance Commissioners. The national median for the Complaint Index is 1.0, meaning companies with a lower index provide better customer service compared to the median company.

Car insurance costs across Tampa ZIP codes and neighborhoods

In Tampa, your neighborhood will impact your annual auto insurance rates. If you live in New Tampa, the cheapest area of Tampa, you're paying $757 less than your friend or co-worker in Northwest Tampa, a tourist center and one of the most expensive areas of Tampa.

ZIP codeNeighborhoodAverage cost
33602Downtown$3,323
33603South Seminole Heights$3,370
33604Old Seminole Heights$3,304
33605Palmetto Beach/Ybor City$3,292
33606David Islands/Hyde Park$3,237
33607Northwest Tampa$3,334
33609Beach Park$2,831
33610East Tampa$3,073
33611Fair Oaks-Manhattan Manor$2,747
33612North Tampa$3,210
33614Pinecrest West Park/Drew Park$3,353
33616Port Tampa City$2,731
33617Temple Terrace$2,758
33619Greater Palm River Point$3,071
33620University of South Florida/Uptown Tampa$2,935
33621MacDill Air Force Base$2,722
33629Palma Ceia West$2,743
33634Twelve Oaks/Northwest Park$3,220
33635Countryway$2,803
33637Oak Forest of Tampa$2,752
33647New Tampa$2,577

Auto theft statistics in Tampa, Florida.

Tampa has the lowest vehicle theft rate out of the eight largest cities in Florida. The city's car theft rate is nearly half that of Jacksonville, Florida's most populated city.

CityPopulationCar theftsThefts per 100,000 people
Fort Lauderdale182,150426233.9
Orlando286,679602210.0
Tallahassee192,443336174.6
Miami473,047815172.3
St. Petersburg265,942377141.8
Jacksonville903,2131,240137.3
Hialeah241,778259107.1
Tampa392,94527369.5

Car insurance companies in Tampa, Florida.

The 11 biggest players in the Florida auto insurance market write about 82% of all premiums. Each large insurer varies in terms of average price, number of policy offerings and service quality, among other factors.

If you're debating between whether to receive insurance from a large company or a small company, you should keep in mind the benefits and disadvantages of each, as well as your own needs. Large insurers have a greater offering of discounts, policies and availability but lack the personalized service approach that small insurers possess.

RankInsurersDirect premiums writtenPercent of direct premiums
1GEICO5,492,41322.67%
2Progressive5,001,52420.64%
3State Farm2,903,83311.98%
4Allstate Corp.1,999,1928.25%
5Liberty Mutual618,3412.55%
6Auto-Owners Insurance608,8222.51%
7Travelers557,2762.30%
8Kemper449,6511.86%
9National General Holdings Corp.407,5661.68%
10Farmers Insurance337,6481.39%
N/A*USAA1,481,9336.12%
*USAA is only available to current and former military members and their families.

Auto insurance in Tampa: Minimum insurance requirement in Florida

Car insurance coverage requirements are set by the state of Florida. In order to legally drive in Tampa, all drivers must meet the following requirements:

Insurance in Florida is generally more expensive than in other states, so you might be tempted to buy the minimum amount of coverage. However, a minimum-liability policy might not be enough to protect you financially if you're involved in an expensive accident. Drivers with expensive or new cars should consider a higher coverage limit or additional protection.

No-fault state

No-fault insurance covers your medical costs following an accident, regardless of who was at fault. Drivers aren't allowed to file claims or seek litigation against another driver after an accident.

The type of no-fault coverage required in Florida is personal injury protection (PIP), which financially covers medical bills for you and your passengers.

Florida's financial responsibility law: SR-22 and FR-44 policies

If you are convicted of driving under the influence or without insurance, you are required to hold additional coverage and higher coverage limits under Florida's financial responsibility law in the form of SR-22 or FR-44 insurance.

SR-22 insurance requirements

Drivers who don't have insurance or have too many points on their driving records are seen as high risk. These drivers may need to ask their insurer to file an SR-22 endorsement. The form acts as proof that you meet the following insurance coverage requirements:

  • Bodily injury liability: $10,000 per person/$20,000 per accident
  • Property damage liability: $10,000 per accident

How long you must have an SR-22 endorsement will need to be verified with your local Department of Motor Vehicles (DMV). In most cases, you will need to have an SR-22 on file for at least three years in Florida.

FR-44 insurance requirements

FR-44 is generally required for drivers found guilty of driving under the influence (a DUI) or driving while intoxicated (a DWI). Due to the seriousness of these offenses, drivers filing for FR-44 will need to pay for significantly higher coverage limits.

  • Bodily injury liability: $100,000 per person/$300,000 per accident
  • Property damage liability: $50,000 per accident

Methodology

ValuePenguin examined data from six Tampa insurance companies. Unless specified otherwise, our sample driver was an unmarried 30-year-old man who owned a 2015 Honda Civic EX. The driver was looking to purchase a minimum auto insurance policy and had a poor credit history.

In instances where our Tampa driver was opting for a full-coverage policy, the following limits were implemented:

Coverage typeStudy limits
Bodily liability$50,000 per person/$100,000 per accident
Property damage$25,000 per accident
Uninsured/underinsured motorist bodily injury$50,000 per person/$100,000 per accident
Comprehensive and collision$500 deductible

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your quotes may be different.

Mark is a Senior Research Analyst for ValuePenguin focusing on the insurance industry, primarily auto insurance. He previously worked in financial risk management at State Street Corporation.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.