Cheapest Car Insurance In Tampa, FL

State Farm offers the cheapest car insurance in Tampa.

min read
Updated: 11 January 2024
Written by
Bob Phillips
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Tampa, a charming city in Florida, is known for its scenic beauty and welcoming community. It serves as a gateway to adventure for many visitors, attracting nature enthusiasts and outdoor explorers. With a considerable number of vehicles in Tampa, it’s essential to find reliable and affordable car insurance.

The average annual cost of auto insurance in Tampa is around $2,241, falling below the state average in Florida ($2,309) but exceeding the national average ($1,548).

In this review, we will guide you in finding the best overall option for affordable coverage (State Farm), the most budget-friendly choice for full coverage (Travelers), the least expensive option for minimum coverage (GEICO), the ideal solution if you have driving violations (USAA), and the most cost-effective option for seniors (Progressive). With these insights, you can navigate the car insurance landscape in Tampa and secure the coverage that suits your needs and budget.

Cheapest and best car insurance companies in Tampa, FL 2024

Cheapest Car Insurance, Tampa 2024

Compare the cheapest car insurance companies in Tampa, FL

Overall Rating Best For J.D. Power Rating (Florida) AM Best Rating Average Annual Cost Get A Quote
State Farm
4.9

Cheapest Overall

840

A++

$1,683

Instant Quote
Travelers
4.8

Full Coverage

818

A++

$1,990

Instant Quote
GEICO
4.9

Cheapest Minimum Coverage

833

A++

$643

Instant Quote
USAA
4.9

Cheapest for Driving Violations

884

A++

$818 Increase After Violation

Instant Quote
Progressive
4.8

Seniors

810

A+

$2,346

Instant Quote
GEICO
4.9

Young Drivers

833

A++

$2,277

Instant Quote
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Our methodology

In our search for the cheapest car insurance rates in Tampa, we gathered information from various car insurance review sites. These sites analyzed rates from public filings provided by Quadrant Information Services. Our review considers the average of those rates. However, it's important to remember that rates can change often and vary depending on your specific situation. Additionally, the overall rating is based on my personal perspective, which stems from fifteen years of experience as a licensed insurance agent, fourteen years as a Florida resident, and over three decades of obtaining car insurance.

51

Quotes Analyzed

15+

Years Of Experience

13

Brands Reviewed

21+

Research Hours

Cheapest car insurance companies in Tampa, FL


Cheapest Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
9/10 Coverage level

Why We Like Them

In our quest to find affordable car insurance in Tampa, Florida, we discovered that State Farm stood out in all aspects. Their average rate, covering both minimum and full coverage, proved to be the most economical overall.

With almost a century of experience in insuring vehicles, State Farm takes pride in having the most local offices among all insurers in the United States. They offer a variety of features and unique options that drivers can benefit from:

Wide range of coverage options: State Farm provides standard coverage as well as additional choices like rental car reimbursement, roadside assistance, travel expense insurance, and rideshare insurance.

Telematics program: State Farm’s telematics program allows them to remotely monitor the driving habits of insured individuals. By practicing safe driving, policyholders can qualify for discounted rates. This program is especially helpful for drivers with limited experience, aiming to save on costs.

Strong industry reputation and customer service: State Farm holds the highest AM Best ratings for financial strength (A++ Superior) and consistently receives positive ratings in J.D. Power’s studies of insurers operating in Florida.

Benefits & Drawbacks

Benefits
  • Usage-based insurance discount
  • Extensive presence of local agents across the country
  • Ample discount opportunities for teenagers and students
Drawbacks
  • Higher annual rates for drivers with poor credit scores

Cheapest Overall Rates in Tampa

Company Rate Per Year
State Farm $1,683
Nationwide $1,935
Travelers $1,990
Mercury $2,289
Progressive $2,376

Cheapest For Full Coverage

Overall Rating
4.8

Key Statistics

10/10 Affordability
7/10 Customer Reviews
8/10 Claims
8/10 Coverage level

Why We Like Them

When it comes to affordable full coverage in Tampa, Travelers stands out as the top choice. Full coverage typically 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

Travelers is a well-established name in the insurance industry, offering car insurance nationwide. What sets them apart is their ability to work with independent agents and provide multiple products under one insurer.

Two notable features of Travelers are their gap insurance, which safeguards your car lease or loan in the event of a total loss, and their Responsible Driver Plan. This plan forgives one accident and one minor violation within a specified timeframe, ensuring that your rates remain unaffected by these incidents.

Benefits & Drawbacks

Benefits
  • Affordable rates for comprehensive coverage
  • Extensive selection of coverage options
  • Status as one of the largest insurance providers in the U.S.
Drawbacks
  • Lower-than-average customer satisfaction ratings
  • Unavailability of rideshare insurance in Florida

Cheapest Full Coverage in Tampa

Company Rate Per Year
Travelers $1,990
Mercury $2,297
Progressive $2,402
Allstate $2,728
Farmers $2,767

Cheapest for Driving Violations

Overall Rating
4.9

Key Statistics

10/10 Affordability
10/10 Customer Reviews
9/10 Claims
9/10 Coverage level

Why We Like Them

If you’ve ever been pulled over and received a ticket, you probably noticed that your car insurance rates went up, especially if you were a younger driver. The seriousness of the offense, like DUI, DWI, or reckless driving, often determines how much your rates increase.

When it comes to forgiving driving violations, USAA shines. While drivers with a history of violations may still see rate increases with USAA, they tend to be smaller compared to other auto insurers.

USAA offers standard liability coverage, comprehensive insurance, and collision insurance, just like other car insurance companies. They also provide popular additional coverage options such as roadside assistance, rental car and travel reimbursement, and accident forgiveness.

However, it’s important to keep in mind that USAA is exclusively available to active military personnel, veterans, and their families.

Benefits & Drawbacks

Benefits
  • Highest J.D. Power rating for customer satisfaction
  • Comprehensive range of insurance, investing, and banking products in one place
Drawbacks
  • Limited eligibility, as insurance is exclusively available to veterans, active military personnel, and their family members

Cheapest for Rate Increase After a Driving Violation

Company Annual Increase
USAA $834
State Farm $1,752
Allstate $2,736
GEICO $3,170
Mercury $3,247

Cheapest for Minimum Coverage

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
9/10 Coverage level

Why We Like Them

In our investigation of Tampa’s car insurance scene, we unearthed GEICO as the champion of affordability, offering the most wallet-friendly average rates for state minimum coverage. In Florida, drivers are obliged to carry at least $10,000 in property damage liability insurance and $10,000 in personal injury protection (PIP). Notably, bodily injury liability coverage is not a mandatory requirement for Florida drivers.

GEICO consistently outshines its competitors in various aspects, including stellar customer service, efficient claims handling, positive customer recommendations, policy renewals, and unwavering customer loyalty. As the second-largest auto insurance company in the United States, GEICO has built a reputation for providing competitive rates to consumers through both online platforms and phone interactions.

GEICO generously showers drivers with a multitude of discounts, making it an attractive choice, particularly for Tampa residents with older vehicles who seek to trim expenses by adhering to Florida’s minimum mandatory auto insurance standards. Moreover, managing your policy is a breeze thanks to GEICO’s intuitively designed website and mobile app.

Benefits & Drawbacks

Benefits
  • Above-average J.D. Power score for customer satisfaction
  • User-friendly website and mobile app
  • Availability of numerous discounts
Drawbacks
  • Absence of gap or rideshare insurance options
  • Limited number of local agents

Cheapest for Minimum Coverage

Company Rate Per Year
GEICO $643
State Farm $797
Travelers $946
Allstate $1,196
Progressive $1,398

Cheapest for Seniors

Overall Rating
4.8

Key Statistics

9/10 Affordability
8/10 Customer Reviews
8/10 Claims
9/10 Coverage level

Why We Like Them

Senior drivers in Tampa can rejoice, as they often benefit from some of the most affordable car insurance rates among different age groups. Our research has uncovered Progressive as the provider with the lowest rates specifically designed for seniors.

As the nation’s third-largest auto insurance company, Progressive stands out by offering a wide range of coverage options and an extensive selection of discounts. Their coverage goes beyond the norm, including specialized features like rideshare insurance and coverage for pets injured in car accidents. Additionally, Progressive provides unique coverage types that many other insurers don’t, such as gap insurance and rideshare insurance.

Progressive values its long-term policyholders and demonstrates loyalty towards them. Drivers who have been insured with Progressive for five years or more without any accidents won’t experience premium increases for larger claims. Customers also have the opportunity to purchase accident forgiveness insurance, allowing for the forgiveness of more than one accident.

Benefits & Drawbacks

Benefits
  • Ranked as the third-largest auto insurance company in the U.S.
  • Offers coverage for veterinary expenses in case of pet injuries from car accidents
  • Provides rideshare coverage
Drawbacks
  • Below-average customer satisfaction ratings based on J.D. Power
  • Limited availability through a select number of agents

Cheapest Coverage for Seniors

Company Rate Per Year
Progressive $2,346
Allstate $2,709
Farmers $3,030
Nationwide $1,798
Liberty Mutual $3,357

Cheapest for Young Drivers

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
9/10 Coverage level

Why We Like Them

Young drivers in Tampa face the highest car insurance rates due to their limited experience on the road and increased chances of accidents.

Among the insurance providers in Tampa, GEICO shines as the most affordable option for young drivers, offering an average premium of $3,451. While this provides the lowest rates available for teens and young adults, it can still present financial obstacles.

Fortunately, GEICO is well-known for its generosity in offering discounts. Young drivers can qualify for various discounts, such as the good student discount, which rewards academic excellence with up to 15% off. Additionally, they can enjoy a safe-driver discount of up to 22% for maintaining a clean driving record, and a new car discount for owning a vehicle that is three years old or newer.

Furthermore, young drivers who have completed a driver’s education class or a defensive driving course may also be eligible for additional discounts.

Benefits & Drawbacks

Benefits
  • Availability of high policy limits
  • Highly-rated mobile app for convenient insurance management
  • A+ rating from the Better Business Bureau (BBB)
Drawbacks
  • Lack of gap insurance options
  • Limited number of local agents

Cheapest for Young Drivers

Company Rate Per Year
GEICO $2,277
Nationwide $2,296
Allstate $2,837
Progressive $2,836
Mercury $3,144

Average cost of car insurance in Tampa

Average cost in Tampa– by age

Age Group Average Yearly Rate
Teenagers $6,493
20s $2,959
30s $2,293
40s $2,272
50s $2,121
60s $2,660
70s $2,553

Average cost in Tampa – by gender 

Gender Average Annual Rate
Male $2,254
Female $2,296

Average cost in Tampa – by marital status

Marital Status Average Annual Rate
Single $2,162
Married $2,232
Divorced $2,287
Widowed $2,312

Average cost in Tampa – by accident and violation history

Violation Average Annual Premium
DWI/DUI $3,534
Reckless Driving $3,154
At-Fault Accident (damage <$1,000) $3,769
At-Fault Accident (damage >$2,000) $3,084
Speeding (16-20 MPH > limit) $2,812

Average cost in Tampa – by credit tier

Very poor:  $4,412
Fair: $2,754
Good: $2,214
Very good:  $2,034
Exceptional: $1,852

Average cost in Tampa – by zip code

ZIP Code Average Rate
32099 $2,271
32202 $2,356
32204 $2,164
32205 $2,568
32206 $2,146
32207 $2,532

Minimum car insurance requirements in Florida

When looking for car insurance, it’s crucial to keep in mind the minimum coverage required in Florida:

  • Property damage liability per accident: $10,000
  • Personal injury protection: $10,000

These numbers represent the bare minimum coverage required by law in Florida. Depending on your vehicle and how much you drive, you might want to consider higher coverage limits and adding collision and comprehensive insurance to your policy.

How to buy car insurance in Tampa

When purchasing car insurance in Tampa, follow these five steps to ensure a hassle-free experience:

  1. Determine the type of car insurance you need. Consider whether you require minimum coverage, full coverage, or something in-between. Take into account your vehicle’s value and your annual mileage.
  2. Keep your personal and vehicle information readily available. This includes your driver’s license number, social security number, Vehicle Identification Number (VIN), and current mileage on your vehicle.
  3. Obtain quotes from at least three different companies. Ensure that you compare coverage amounts and limits that are similar.
  4. Make an informed decision and purchase your policy. While price shouldn’t be the sole factor, remember that the cheapest option might still be the best fit for you.
  5. Cancel your old policy. Remember that your new insurance company cannot cancel your old policy on your behalf. You must take the initiative to cancel it yourself. However, do not cancel your old policy until you are certain that your new coverage is active.

Factors that impact the cost of your car insurance policy in Tampa

Insurance companies consider various factors when determining the cost of auto insurance in Tampa. These factors include:

State requirements: Your policy must meet the minimum coverage mandated by the state of Florida, which includes $10,000 in damage liability and $10,000 in personal injury protection (PIP).

Age: Younger drivers typically face higher rates due to their lack of experience and higher accident rates. Rates generally begin to decrease after turning 25.

Vehicle make and model: The safety features of your car affect your rates. A newer Toyota Corolla, for example, will generally have lower insurance costs compared to a Chevrolet Corvette.

Driving record: Previous accidents and traffic violations can significantly increase your insurance rates since they indicate a higher likelihood of future claims.

Yearly mileage: Drivers with longer commutes usually pay more than those who drive less frequently.

Credit history: A higher credit score often leads to lower rates. Insurance companies have found that individuals with better credit tend to file fewer claims.

Zip code: Your location can impact your rates. Depending on where you work and park your car, you may receive a discount or experience rate increases based on the likelihood of vandalism or damage.

Marital status: Married drivers generally receive lower rates compared to single drivers.

Gender: Men around the age of 45 typically pay around 6% less than females of the same age. However, the gender gap tends to equalize for drivers in their 30s.

Florida car insurance laws to know

In Florida, drivers must carry a minimum of $10,000 in property liability insurance and $10,000 in personal injury protection (PIP).

It’s important to note that Florida operates under a no-fault system. This means that insurance companies are responsible for covering medical expenses, regardless of who is deemed at fault in an accident.

In the news

Florida residents are facing financial challenges due to rising costs. According to the Dallas Morning News, the state is experiencing the highest inflation in 40 years. In addition, Florida has seen the highest annual increase in auto insurance rates in at least 20 years.

Auto insurance rates surged by an average of 23.8% in 2022, which is eight times higher than the previous year. Homeowners insurance rates also rose by an average of 10.8% last year, the largest annual gain since 2012.

Information about Tampa

Tampa shines with its vibrant population, thriving economy, diverse cultural scene, and abundant recreational opportunities, making it one of the most dynamic cities in the nation. With a land area of approximately 175 square miles, Tampa stands as a prominent city along the beautiful Gulf Coast of Florida.

As the third-largest city in Florida by population, Tampa offers a favorable cost of living compared to other major cities in the state. It presents various tax advantages, including no state income tax, making it an attractive destination for residents and businesses alike. The presence of esteemed universities and the bustling Port of Tampa contribute to a diverse and highly skilled workforce.

Car insurance discounts in Tampa

When it comes to car insurance in Tampa, it tends to be more affordable compared to major cities like Tampa and Miami in Florida. However, if you’re looking to reduce costs further, it’s crucial to explore available discounts. Here are some common discounts you can potentially qualify for:

  • Good driving history
  • Installation of vehicle safety features
  • Customer loyalty
  • Claims-free record
  • Driving fewer miles than the average
  • Being a student with a minimum “B” average
  • Military discount
  • Senior discount

FAQs

Which car insurance provider offers the most affordable rates in the State of Florida?

GEICO is recognized as the most cost-effective car insurance option in Florida, with a yearly premium of $437 for minimum liability coverage.

What is the average cost of car insurance in Tampa?

On average, full coverage car insurance in Tampa amounts to $2,562 per year. For those seeking minimum coverage, the average cost in Tampa is around $1,121 annually.

Is car insurance mandatory in Tampa?

Absolutely. Florida law mandates that drivers in Tampa and throughout the state must carry auto liability insurance. It’s a legal requirement to ensure financial responsibility and protection for all drivers.

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