Best & Cheapest Car Insurance In Fort Lauderdale, FL For 2024
State Farm has the most affordable car insurance policy for residents of Fort Lauderdale.
As you navigate the realm of car insurance options in Fort Lauderdale, your quest likely centers on affordability matched with comprehensive protection. If this resonates with you, you’re in the right place.
On average, securing auto insurance in Fort Lauderdale costs around $2,245 annually. This figure positions itself below Florida’s state average ($2,309) while surpassing the national average of $1,548.
Within this assessment, we are committed to steering you towards the best choices. Our aim is to introduce you not only to the most economical choice overall (State Farm) but also the most budget-friendly options for full coverage (Travelers), minimum coverage (GEICO), coverage if you have driving violations (USAA), and even choices tailored for seniors (Progressive).
Cheapest And Best Car Insurance In Fort Lauderdale, FL 2024
Compare The Cheapest Car Insurance In Fort Lauderdale, FL
| Overall Rating | Best For | J.D. Power Rating (Florida) | Average Annual Cost | AM Best Rating | Get A Quote | |
|---|---|---|---|---|---|---|
| GEICO |
|
Cheapest Minimum Coverage |
833 |
$437 |
A++ |
Instant Quote |
| State Farm |
|
Cheapest Overall |
840 |
$1,840 |
A++ |
Instant Quote |
| Travelers |
|
Full Coverage |
818 |
$2,208 |
A++ |
Instant Quote |
| USAA |
|
Cheapest For Driving Violations |
884 |
$858 |
A++ |
Instant Quote |
| Progressive |
|
Seniors |
810 |
$2,066 |
A+ |
Instant Quote |
| GEICO |
|
Young Drivers |
833 |
$3,451 |
A++ |
Instant Quote |
Our Methodology
To uncover the most affordable car insurance rates in Fort Lauderdale, we delved into data collected from various car insurance review sources. Some of these sources examined rates sourced from public records provided by Quadrant Information Services. The review's foundation rests on an average of these rates, although it's important to note that rates undergo frequent changes and are subject to change based on your individual circumstances.
Furthermore, our comprehensive evaluation is influenced by my personal perspective. This viewpoint is taken from my extensive fifteen-year tenure as a licensed insurance agent, coupled with fourteen years as a Florida resident, and more than thirty years of acquiring car insurance.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest Car Insurance Companies In Fort Lauderdale, Florida
Cheapest Overall
Key Statistics
Why We Like Them
⇅When assessing the most affordable car insurance options in Fort Lauderdale, Florida, our analysis highlighted State Farm’s notable competitiveness across all aspects. However, what particularly stands out is their average rate, encompassing both minimum and full coverage, which emerges as the most budget-friendly choice overall.
With a rich history spanning nearly a century, State Farm has solidified its position as a premier vehicle insurance provider. Remarkably, it boasts the highest number of local neighborhood offices among all insurance companies in the United States. This insurer offers a range of distinct attributes and options that drivers can leverage:
Diverse coverage options: In addition to standard coverage, drivers have the opportunity to obtain rental car reimbursement, roadside assistance, travel expense insurance, and even rideshare insurance.
Telematics program: Featuring advanced technology, this program remotely monitors driving behaviors and rewards those who adhere to safe practices with discounted rates. This initiative aims to reduce costs for individuals with limited driving experience.
Strong standing in the industry and customer service realm: State Farm shines with the highest AM Best ratings, earning an A++ Superior mark for financial strength. Additionally, it garners strong ratings in J.D. Power’s evaluations of insurers operating within the state of Florida.
Benefits & Drawbacks
⇅- Discount available for usage-based insurance
- Extensive network of local agents nationwide
- Favorable discount options for teenagers and students ✓
- Elevated yearly rates for drivers with unfavorable credit scores ✘
Cheapest Overall Rates In Fort Lauderdale
| Company | Rate Per Year |
| State Farm | $1,993 |
| GEICO | $2,570 |
| Direct General | $2,077 |
| MetLife | $2,112 |
| Progressive | $3,187 |
Cheapest For Full Coverage
Key Statistics
Why We Like Them
⇅Travelers emerges as the top choice for the most affordable full coverage in Fort Lauderdale. Full coverage includes:
- $100,000 bodily injury liability coverage per person
- $300,000 bodily injury liability coverage per accident
- $50,000 property damage liability coverage per accident
- $100,000 uninsured motorist bodily injury coverage per person
- $300,000 uninsured motorist bodily injury coverage per accident
- Collision coverage with a $1,000 deductible
- Comprehensive coverage with a $1,000 deductible
Well-known in the insurance industry, Travelers is among the largest car insurance providers in the U.S., often preferred by those seeking the convenience of an independent agent and a one-stop solution for various insurance needs.
Two standout features set Travelers apart. Firstly, they offer gap insurance, a safeguard for your car lease or loan in case of early total loss. This coverage bridges the gap between your loan balance and your car’s value.
Secondly, Travelers’ Responsible Driver Plan forgives one accident and one minor violation within a specified timeframe, preventing rate increases after these incidents.
Benefits & Drawbacks
⇅- Full coverage available at wallet-friendly rates
- Plenitude of coverage options to cater to diverse needs
- Ranks among the nation's insurance giants ✓
- Draws disappointment with customer satisfaction ratings below par
- Fails to offer rideshare insurance options for Florida residents ✘
Cheapest Full Coverage In Fort Lauderdale
| Company | Rate Per Year |
| Travelers | $1,908 |
| Farmers | $2,023 |
| Progressive | $2,235 |
| Liberty Mutual | $3,012 |
| Bristol West | $3,770 |
Cheapest For Driving Violations
Key Statistics
Why We Like Them
⇅If you’ve ever been pulled over and received a ticket, you’re likely familiar with the subsequent increase in your auto insurance rate, especially if you’re a younger driver. More severe offenses like DUI, DWI, and reckless driving can lead to even larger rate hikes.
USAA stands out for its leniency in raising rates after incidents like speeding tickets, at-fault accidents, or DUI convictions. Drivers with previous violations have experienced smaller rate increases with USAA compared to other auto insurance providers.
USAA offers standard liability coverage, comprehensive and collision insurance, and common add-ons like roadside assistance, rental car and travel reimbursement, and accident forgiveness, similar to other insurers. It’s important to note, however, that USAA exclusively serves active military personnel, veterans, and their families.
Benefits & Drawbacks
⇅- Attains the topmost J.D. Power rating for customer contentment
- Offers a comprehensive array of insurance, investment, and banking solutions ✓
- Solely caters insurance services to veterans, active military personnel, and their family members ✘
Cheapest For Rate Increase After A Driving Violation
| Company | Annual Increase |
| USAA | $924 |
| State Farm | $1,668 |
| Allstate | $2,294 |
| GEICO | $3,278 |
| MetLife | $2,112 |
Cheapest For Minimum Coverage
Key Statistics
Why We Like Them
⇅In Fort Lauderdale, our analysis points to GEICO as providing the most budget-friendly state minimum coverage on average. Florida law mandates drivers to carry at least $10,000 in property damage liability insurance and $10,000 in personal injury protection (PIP), while bodily injury liability coverage is optional.
GEICO consistently ranks well in aspects like customer service, claims processing, customer recommendations, policy renewals, and customer loyalty. As the second-largest auto insurance company in the U.S., GEICO is renowned for offering competitive rates both online and via phone interactions.
GEICO extends a range of discounts and emerges as the most economical choice for Fort Lauderdale drivers seeking to meet Florida’s minimum auto insurance requirements. Managing your policy is hassle-free through their user-friendly website and mobile app.
Benefits & Drawbacks
⇅- Earns an J.D. Power score for customer satisfaction that surpasses the norm
- Features a sturdy website and user-friendly mobile app
- Boasts a plethora of available discounts ✓
- Absence of gap or rideshare insurance offerings
- Limited count of local agents in its network ✘
Cheapest For Minimum Coverage
| Company | Rate Per Year |
| GEICO | $440 |
| State Farm | $715 |
| Travelers | $803 |
| Farmers | $1,022 |
| Mercury | $1,105 |
Cheapest For Seniors
Key Statistics
Why We Like Them
⇅Senior drivers enjoy some of the most affordable car insurance rates in Fort Lauderdale, making it a favorable choice for this age group. Our research highlights Progressive as the provider with the most budget-friendly rates for seniors.
Progressive holds the position as the third-largest auto insurance company in the nation and offers an extensive array of discounts and a comprehensive range of coverage options. This includes unique offerings such as rideshare insurance and coverage for pets injured in car accidents. Additionally, Progressive stands out by providing coverage types that are not commonly offered by other insurers, including gap and rideshare insurance.
Progressive also values its loyal policyholders. Those who have maintained their relationship with Progressive for five years or more without any accidents can benefit from premium stability even after filing significant claims. Furthermore, customers have the option to purchase accident forgiveness insurance and have multiple accidents forgiven.
Benefits & Drawbacks
⇅- Holds the position of the third-largest provider of personal auto insurance in the United States
- Provides coverage for veterinary expenses if your pet sustains injuries in a car crash
- Offers the option for rideshare coverage ✓
- Garners customer satisfaction ratings from J.D. Power that fall short of the average mark
- Limited availability through a constrained network of agents ✘
Cheapest Coverage For Seniors
| Company | Rate Per Year |
| Progressive | $2,066 |
| Travelers | $2,270 |
| Mercury | $2,313 |
| Safeco | $2,476 |
| Liberty Mutual | $3,317 |
Cheapest For Young Drivers
Key Statistics
Why We Like Them
⇅Among all age groups, young drivers in Fort Lauderdale face the highest car insurance rates due to their limited experience behind the wheel and the increased likelihood of being involved in accidents.
A standout option for young drivers is GEICO, offering the most budget-friendly rates in Fort Lauderdale with an average premium of $3,451. While this figure represents the lowest cost available for teenagers and those in their early twenties, it can still pose a financial challenge.
The silver lining is that GEICO is remarkably supportive with its discount offerings. Young drivers have the opportunity to qualify for discounts like the good student discount of up to 15%, a safe-driver discount of up to 22% for maintaining an accident-free record, and a new car discount for owning a vehicle that is three model years old or newer.
Additionally, young drivers who have completed a driver’s education class in school or a defensive driving course can also secure extra discounts.
Benefits & Drawbacks
⇅- Unlocks access to substantial policy limits, catering to comprehensive coverage needs
- Boasts a mobile app that garners high acclaim for its functionality and user-friendliness
- Achieves the prestigious A+ rating from the Better Business Bureau (BBB) ✓
- Leaves out gap insurance as an available option
- Presents a scarcity of local agents in its service network ✘
Cheapest For Young Drivers
| Company | Rate Per Year |
| GEICO | $3,451 |
| Direct General | $3,863 |
| State Farm | $3,924 |
| MetLife | $5,233 |
| Progressive | $8,582 |
Average Cost Of Car Insurance In Fort Lauderdale
Average Cost In Fort Lauderdale– By Age
| Age Group | Average Yearly Rate |
| Teenagers | $6,705 |
| 20s | $4,197 |
| 30s | $3,130 |
| 40s | $2,937 |
| 50s | $2,592 |
| 60s | $2,487 |
| 70s | $2,992 |
Average Cost In Fort Lauderdale – By Gender
| Gender | Average Annual Rate |
| Male | $1,758 |
| Female | $1,992 |
Average Cost In Fort Lauderdale – By Marital Status
| Marital Status | Average Annual Rate |
| Single | $1,950 |
| Married | $1,638 |
| Divorced | $1,458 |
| Widowed | $1,627 |
Average Cost In Fort Lauderdale – By Accident And Violation History
| Violation | Average Annual Premium |
| DWI/DUI | $4,172 |
| Reckless Driving | $4,318 |
| At-Fault Accident (damage <$1,000) | $3,869 |
| At-Fault Accident (damage >$2,000) | $3,871 |
| Speeding (16-20 MPH > limit) | $3,527 |
Average Cost In Fort Lauderdale – By Credit Tier
| Fair: | $3,428 |
| Good: | $2,780 |
| Very good: | $2,498 |
| Exceptional: | $2,218 |
| Very poor: | $5,573 |
Average Cost In Fort Lauderdale – By Zip Code
| ZIP Code | Average Rate |
| 32099 | $2,272 |
| 32202 | $2,341 |
| 32204 | $2,363 |
| 32205 | $2,418 |
| 32206 | $2,462 |
| 32207 | $2,502 |
Minimum Car Insurance Requirements In Florida
While exploring car insurance choices, it’s important to keep in mind the fundamental coverage required by Florida regulations:
• Property damage liability per accident: $10,000
• Personal injury protection: $10,000
These figures reflect the bare minimum coverage stipulated by the state. Depending on your vehicle and driving habits, you might contemplate higher coverage levels or even opt for additional features like collision and comprehensive insurance.
How To Buy Car Insurance In Fort Lauderdale
If you’re in the process of acquiring car insurance in Fort Lauderdale, follow these five straightforward steps to ensure a smooth and hassle-free experience:
- Determine Your Coverage Needs: Assess whether you require minimum coverage, full coverage, or an intermediate option. Factor in your vehicle’s value and your yearly mileage.
- Prepare Your Information: Have your personal and vehicle details ready, including your driver’s license number, social security number, Vehicle Identification Number (VIN), and current mileage.
- Compare Quotes: Obtain quotes from at least three different companies, ensuring the coverage amounts and limits are similar for accurate comparison.
- Make an Informed Choice: While price matters, consider factors beyond it. The best insurer for you might not be the cheapest one.
- Switch with Care: Cancel your previous policy only once you’re certain your new coverage is active. Remember, the new insurer won’t cancel the old policy on your behalf.
Factors That Impact The Cost Of Your Car Insurance Policy In Fort Lauderdale
The cost of your auto insurance in Fort Lauderdale is influenced by various factors, including:
State Requirements: Your policy must meet Florida’s minimum coverage demands, which include $10,000 in damage liability and $10,000 in personal injury protection (PIP).
Age: Younger drivers often face higher rates due to their inexperience and higher accident likelihood. Rates generally decrease after turning 25.
Car Make and Model: Safer vehicles translate to lower rates. Insuring a modern Toyota Corolla is more affordable than a Chevrolet Corvette.
Driving Record: Previous accidents and traffic violations can lead to significant rate hikes, as they indicate a higher likelihood of future claims.
Annual Mileage: Lengthy commutes typically result in higher rates compared to less frequent drivers.
Credit History: Higher credit scores often correlate with lower rates, as individuals with better scores tend to file fewer claims.
Location: Your work and overnight parking locations impact your rates, potentially leading to discounts or rate adjustments based on the risk of vandalism or damage.
Marital Status: Married drivers usually enjoy lower rates compared to single drivers.
Gender: Around age 45, men tend to pay about 6% less than women of the same age. However, this gender difference evens out for drivers in their 30s.
Car Insurance Discounts In Fort Lauderdale
Auto insurance rates in Fort Lauderdale tend to be more budget-friendly compared to certain other prominent cities in Florida, such as Tampa and Miami. However, seeking out potential discounts becomes a key factor in your cost-saving strategy. The prevalent discounts typically revolve around:
- Having a good driving history
- Installing vehicle safety features
- Customer loyalty
- Being claims-free
- Driving fewer than average miles
- Being a student with at least a “B” average
- Military discount
- Senior discount
Florida Car Insurance Laws To Know
In Florida, drivers must possess at least $10,000 in property liability insurance and $10,000 in personal injury protection (PIP).
Florida operates on a no-fault system. This means insurance companies cover medical expenses regardless of fault in an accident.
In The News
As reported by the Dallas Morning News, individuals throughout Florida are grappling with financial challenges due to rising costs, including the highest inflation in four decades. Concurrently, they are also contending with the most substantial yearly surge in auto insurance rates in over two decades.
Auto insurance premiums in Florida experienced a remarkable 23.8% increase in 2022, a significant jump compared to the 2021 rate and marking the highest annual rise in at least 20 years. This data, provided by the Florida Department of Insurance, is paralleled by a 10.8% average uptick in homeowners insurance rates in the state during the previous year, representing the most notable annual increase since 2012.
Information About Fort Lauderdale
Fort Lauderdale stands out with its burgeoning population, robust economic landscape, vibrant cultural mix, wide array of leisure pursuits, and rich environmental assets, positioning it as a truly vibrant urban center. Spanning 36 square miles, Fort Lauderdale is renowned for being a city of substantial land area within the contiguous United States.
Ranked as the 15th largest city in terms of population, Fort Lauderdale boasts an enviable cost of living, making it an attractive choice in Florida. The city presents an assortment of tax benefits, including exemptions from corporate franchise tax, state personal tax, inventory tax, and foreign income tax. A cluster of esteemed educational institutions and the presence of two naval bases contribute to a diverse and skilled workforce that defines the city’s essence.
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FAQs
What is the cheapest car insurance in the State of Florida?
At an annual cost of $437 for minimum liability coverage, GEICO emerges as the most affordable option for car insurance in Florida.
How much does car insurance cost in Fort Lauderdale on average?
For complete coverage, the typical yearly expense for car insurance in Fort Lauderdale stands at $2,562. Opting for the minimum coverage averages around $1,121 per year in the Fort Lauderdale area.
Do I need car insurance in Fort Lauderdale?
Complying with Florida law, Fort Lauderdale drivers are obligated to possess auto liability insurance.
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