Best Cheapest Car Insurance Rates in Tampa, Florida
Best Cheapest Car Insurance Rates in Tampa, Florida
Find Cheap Auto Insurance Quotes in Tampa, FL
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.
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.
Find Cheap Auto Insurance Quotes in Tampa, FL
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.
Rank | Company | Annual rate |
|---|---|---|
| 1 | Geico | $1,469 |
| 2 | State Farm | $1,869 |
| 3 | MetLife | $2,391 |
| 4 | Direct General | $2,525 |
| 5 | Progressive | $3,766 |
| 6 | Allstate | $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.
Rank | Company | Annual premium |
|---|---|---|
| 1 | Geico | $2,331 |
| 2 | State Farm | $3,024 |
| 3 | Direct General | $3,983 |
| 4 | MetLife | $4,570 |
| 5 | Progressive | $5,289 |
| 6 | Allstate | $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.
Rank | Company | Annual rate |
|---|---|---|
| 1 | Geico | $4,070 |
| 2 | Direct General | $5,085 |
| 3 | State Farm | $5,334 |
| 4 | MetLife | $6,160 |
| 5 | Progressive | $9,751 |
| 6 | Allstate | $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
Rank | Company | Rate before accident | Rate after accident | Difference |
|---|---|---|---|---|
| 1 | State Farm | $3,024 | $3,599 | $575 |
| 2 | Geico | $2,331 | $3,365 | $1,034 |
| 3 | Direct General | $3,983 | $5,453 | $1,470 |
| 4 | Progressive | $5,289 | $7,481 | $2,192 |
| 5 | MetLife | $4,570 | $7,607 | $3,037 |
| 6 | Allstate | $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.
Rank | Company | Complaint Index |
|---|---|---|
| 1 | Amica | 0.06 |
| 2 | Florida Farm Bureau | 0.07 |
| 3 | Southern-Owners | 0.10 |
| 4 | Progressive | 0.10 |
| 5 | Safeco | 0.11 |
| 6 | State Farm | 0.12 |
| 7 | Mercury | 0.12 |
| 8 | Allstate | 0.12 |
| 9 | MetLife | 0.13 |
| 10 | Geico | 0.14 |
| 11 | USAA | 0.14 |
| 12 | Esurance | 0.19 |
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 code | Neighborhood | Average cost |
|---|---|---|
| 33602 | Downtown | $3,323 |
| 33603 | South Seminole Heights | $3,370 |
| 33604 | Old Seminole Heights | $3,304 |
| 33605 | Palmetto Beach/Ybor City | $3,292 |
| 33606 | David Islands/Hyde Park | $3,237 |
| 33607 | Northwest Tampa | $3,334 |
| 33609 | Beach Park | $2,831 |
| 33610 | East Tampa | $3,073 |
| 33611 | Fair Oaks-Manhattan Manor | $2,747 |
| 33612 | North Tampa | $3,210 |
| 33614 | Pinecrest West Park/Drew Park | $3,353 |
| 33616 | Port Tampa City | $2,731 |
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.
City | Population | Car thefts | Thefts per 100,000 people |
|---|---|---|---|
| Fort Lauderdale | 182,150 | 426 | 233.9 |
| Orlando | 286,679 | 602 | 210.0 |
| Tallahassee | 192,443 | 336 | 174.6 |
| Miami | 473,047 | 815 | 172.3 |
| St. Petersburg | 265,942 | 377 | 141.8 |
| Jacksonville | 903,213 | 1,240 | 137.3 |
| Hialeah | 241,778 | 259 | 107.1 |
| Tampa | 392,945 | 273 | 69.5 |
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.
Rank | Insurers | Direct premiums written | Percent of direct premiums |
|---|---|---|---|
| 1 | Geico | 5,492,413 | 22.67% |
| 2 | Progressive | 5,001,524 | 20.64% |
| 3 | State Farm | 2,903,833 | 11.98% |
| 4 | Allstate Corp. | 1,999,192 | 8.25% |
| 5 | Liberty Mutual | 618,341 | 2.55% |
| 6 | Auto-Owners Insurance | 608,822 | 2.51% |
| 7 | Travelers | 557,276 | 2.30% |
| 8 | Kemper | 449,651 | 1.86% |
| 9 | National General Holdings Corp. | 407,566 | 1.68% |
| 10 | Farmers Insurance | 337,648 | 1.39% |
| N/A* | USAA | 1,481,933 | 6.12% |
*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:
- Personal injury protection (PIP): $10,000 per accident
- Property damage liability (PDL): $10,000 per accident
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 type | Study 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.
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.