Cheapest Car Insurance In Tampa, FL
State Farm offers the cheapest car insurance in Tampa.
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
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 |
|
Cheapest Overall |
840 |
A++ |
$1,683 |
Instant Quote |
| Travelers |
|
Full Coverage |
818 |
A++ |
$1,990 |
Instant Quote |
| GEICO |
|
Cheapest Minimum Coverage |
833 |
A++ |
$643 |
Instant Quote |
| USAA |
|
Cheapest for Driving Violations |
884 |
A++ |
$818 Increase After Violation |
Instant Quote |
| Progressive |
|
Seniors |
810 |
A+ |
$2,346 |
Instant Quote |
| GEICO |
|
Young Drivers |
833 |
A++ |
$2,277 |
Instant Quote |
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.
Quotes Analyzed
Years Of Experience
Brands Reviewed
Research Hours
Cheapest car insurance companies in Tampa, FL
Cheapest Overall
Key Statistics
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
⇅- Usage-based insurance discount
- Extensive presence of local agents across the country
- Ample discount opportunities for teenagers and students ✓
- 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
Key Statistics
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
⇅- Affordable rates for comprehensive coverage
- Extensive selection of coverage options
- Status as one of the largest insurance providers in the U.S. ✓
- 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
Key Statistics
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
⇅- Highest J.D. Power rating for customer satisfaction
- Comprehensive range of insurance, investing, and banking products in one place ✓
- 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
Key Statistics
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
⇅- Above-average J.D. Power score for customer satisfaction
- User-friendly website and mobile app
- Availability of numerous discounts ✓
- 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
Key Statistics
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
⇅- 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 ✓
- 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
Key Statistics
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
⇅- Availability of high policy limits
- Highly-rated mobile app for convenient insurance management
- A+ rating from the Better Business Bureau (BBB) ✓
- 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:
- 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.
- 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.
- Obtain quotes from at least three different companies. Ensure that you compare coverage amounts and limits that are similar.
- 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.
- 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
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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.
