Florida Auto Insurance

Florida General Insurance Information

The state of Florida is a No Fault state.  In Florida, residents are not required to carry PIP, collision, comprehensive or uninsured/underinsured coverage on their automobile insurance policy.  Individuals will still be held responsible for all the damages which result from the accident they caused.  This will include all medical bills and vehicle repairs.  For this reason, insurance companies may encourage you to purchase more than the minimum auto liability insurance required by the state of Florida. 

You do not have to list all the drivers on your insurance application in Florida but your insurance company does not have to cover members of your household if they are not listed on the policy.  These exclusions are legal.  Even though you do not have to list everyone on the policy, the company may request it.  If you do not comply with the company’s request, they can deny the claims on any persons not included on the policy.

In the state of Florida, the insurance company is allowed to check out your personal credit history when offering you insurance and setting your premium rates.  They may also look at your driving record, age, and the area where you live.  Maintaining a good driving record and paying your bills on time may reduce your premiums.  Most Florida residents who maintain a good credit rating will be offered a premium discount.

The average insurance premium in Florida was about $1069.00 as of 2006.  Florida was ranked as having the 5th highest premium average in the United States.  There are 9 state approved insurance companies doing business in the state of Florida.  The following companies may sell auto insurance in Florida:  Allstate Property & Casualty Insurance Company, Direct General Insurance Company, Government Employees (GEICO), Liberty Mutual Insurance Company, Mercury Insurance Company of Florida, Nationwide Mutual Fire Insurance Company, Progressive American, State Farm Mutual Auto Insurance Company, and United Automobile Insurance Company.

The lowest premium in Florida is offered to individuals in the 71 year old age group.  The lowest overall premium is offered by GEICO for $243.00 to these individuals.  The highest premium is $4830.00 applied by Direct Insurance to the single 18 year old males.  Direct Insurance Company has the highest premiums over all while GEICO has the lowest premiums overall.  Below is a chart showing approximate premium estimates for various age groups and categories.

Insurance Company Name Male Female Male
Single Married           Married
18 40 71
Allstate Property & Casualty
Insurance Company $2,085.00           $856.00           $755.00
Direct General Insurance Co. $4,830.00           $1,801.00           $1,548.00
Government Employees (GEICO)           $909.00           $1,104.00           $243.00
Liberty Mutual Insurance Co. $1,575.00           $1,088.00           $728.00
Mercury Insurance Company $2,240.00           $834.00           $542.00
Nationwide Mutual Fire
Insurance Company $3,337.00           $956.00           $819.00
Progressive American $3,430.00           $633.00           $602.00
State Farm Mutual Auto
Insurance Company $2,586.00           $1,023.00           $854.00
United Automobile Insurance Co.           $4,266.00           $1,398.00           $1,327.00

Things that can help you reduce the cost of your insurance premiums include a clean driving record, the type of vehicle you choose to drive as well as the number of miles you drive per year.  Nationwide Mutual Fire Insurance Company took a good credit score into account when establishing their premium rates.  The fewer miles you put on your vehicle each year, the lower your chances are of being involved in an accident.  The reduction in accident risk can translate into a reduction in premiums.  Furthermore, a clean driving record reduces your risk of an accident. 

It will be more expensive to insure a luxury car or a sports car.  You should also keep in mind that insurance premiums will be higher on vehicles which are a high priority for thieves.  The cars that made the top 10 stolen vehicles in Florida are:

1. 1990 Toyota Camry
2. 1994 Honda Accord
3. 2000 Honda Civic
4. 1994 Dodge Caravan
5. 1997 Ford F150
6. 1995 Jeep Cherokee or Grand Cherokee
7. 1996 Ford Taurus
8. 2003 Dodge Ram Pickup
9. 1991 Chevrolet Caprice
10. 2003 Toyota Corolla

Safety devices such as anti-lock brakes side air bags, automatic seat belts and daytime running lights may also reduce your premiums along with anti theft devices like an alarm system and global positioning systems.  Parking your car in a garage or secured area is another way to reduce your premiums.  Where you live will affect your insurance rates which can be affected by weather extremes, high theft risk, and high traffic patterns.  Don’t forget to maintain a good credit record as the insurance company looks at this to determine how likely you are to pay your premiums on time.  Prior accident claims will also be a red flag to insurance companies especially if there are several claims on your past record.  The amount of your deductible is also a key factor when determining insurance rates.  The higher your deductible is, the lower your insurance rates will be.