Auto Insurance in Florida (FL)

What Affects Auto Insurance Rates in Florida

Several factors affect insurance rates in Florida. With its subtropical climate and miles of beachfront, Florida has become a popular destination for retirees. The state leads the country in the number of elderly residents—18 percent. One study found that drivers over 70 were responsible for twice as many fatal car accidents as middle-aged drivers. In addition, many car owners suffer damage to their vehicles as a result of extreme weather conditions caused by hurricanes. If you live and drive in Florida, these factors will affect your car insurance rates.

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How much auto insurance do I need in Florida?

Florida is one of the few “no-fault” states, which means that motorists are required to carry enough of their own insurance to cover any medical expenses, wage losses, and property damage resulting from an accident, no matter who is at fault. As a Florida driver, you must carry at least $10,000 in personal injury protection coverage as well as $10,000 in property damage liability. You may be able to lower rates by reducing certain coverages—for example, excluding members of your household from receiving protection from lost wages. But you should remember that doing so carries more risk. You should always purchase enough insurance that covers your assets, mainly your family and your vehicle.

 If you are involved in an accident, whether or not you are at fault, the state may require you to also carry bodily injury liability coverage—a minimum of $10,000 per person and $20,000 per accident. Most insurers recommend buying more coverage and at higher limits than the minimums set by states to protect financial assets in the event of high medical costs or a lawsuit.

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Can I get an auto insurance discount in Florida?

Florida drivers over the age of 55 may be eligible for discounts on their car insurance. There are also discounts available for drivers who complete certain traffic school courses, as well as discounts offered for multiple policies with the same company.

Some companies that offer auto insurance in Florida are AAA, AIG, Allstate, Amica, Chubb, Comparison Market, Eastwood Insurance, Electric Insurance Company, Esurance, GMAC Insurance Online (National General), Horace Mann, Insurance.com, Mercury, MetLife Auto, Permanent General, Prudential, Safeco, State Farm, Travelers Insurance, and Unitrin.

More Information on Auto Insurance in Florida

For more information on auto insurance coverage and state requirements, contact the Florida Department of Motor Vehicles at:

Florida Department of Highway Safety and Motor Vehicles
504-A Capital Circle S.E.
Tallahassee FL 32301-3817
www.hsmv.state.fl.us

*Auto Insurance Options is a free information resource that provides content on auto insurance products and policies for informational purposes only, but is not an agency or insurer. Products and policies may not be available in all states.