Florida ranks in the top 10 most expensive for car insurance. What drivers are paying

Floridians don’t just pay some of the highest insurance rates in the nation to insure their homes. The cost for car insurance in Florida is priced well over the national average as well.

Financial information company MarketWatch completed 800 hours of research, reviewed 45 car insurance companies and surveyed 8,500 car insurance consumers to create a guide to the best car insurance companies by state, age, driving record and credit score.

According to MarketWatch’s car insurance guide, Florida ranks in the top three states where care insurance costs the most. 

Here’s where Florida ranks in car insurance prices, an average of what Floridians pay for car insurance each month and some of the cheapest options for Sunshine State drivers.

What state has the highest car insurance rates?

According to MarketWatch’s car insurance guide, Louisiana is the state with the most expensive car insurance prices. New York follows close behind in second place and Florida, where drivers pay an estimated $289 per month for full coverage car insurance, ranks in third place overall.

Here are the top 10 states where car insurance costs the most and the corresponding average rate for full coverage car insurance in each state, according to MarketWatch:

1. Louisiana, $340
2. New York, $310
3. Florida, $289
4. Nevada, $281
5. Texas, $271
6. Pennsylvania, $269
7. California, $260
8. Colorado, $246
9. Rhode Island, $244

What is the average car insurance payment in Florida?

How expensive it is to insure a car depends on if the policy you buy is full or minimum coverage and which insurance company you purchase from.

The average full coverage car insurance policy in Florida costs around $289 per month, a whole $66 more than the national average for full coverage car insurance pricing, according to MarketWatch’s car insurance guide.

Here are some other key findings about the cost of car insurance in Florida, according to MarketWatch’s car insurance guide:

• The cheapest full coverage auto insurance option in Florida is through Geico, at an average rate of $174 per month.
• The cheapest minimum liability auto insurance option in Florida is also through Geico, at an average rate of $54 per month.
• The average minimum liability auto policy in Florida costs $130 per month.

Who has the most affordable auto insurance in Florida?

“According to rate data, on average, Florida auto insurance costs $3,244 per year for full coverage insurance policies, which is 62% higher than the national average,” according to MarketWatch. 

“Car insurance rates went up an average of 10.1% in Florida in 2023…However, some of the best car insurance companies in the country offer manageable premiums, despite Florida having far more expensive coverage than the U.S. average, according to our rate data.”

According to MarketWatch’s findings, the cheapest car insurance options in the state of Florida are offered by State Farm, Geico, Travelers, Mercury and Progressive. Which option is cheapest for you depends on a lot of different variables, though; like how old you are, which city you live in, your credit score (or lack thereof) and your driving record. 

Finding a car insurance policy that’s best for you will require getting and comparing quotes from different companies, since pricing is somewhat personalized based on the factors listed above.