With over 12,900,000 licensed drivers in the state, Florida is has the third largest population of drivers of any state in the country. Despite its huge driving population, Florida’s car insurance rates are surprisingly affordable, coming in at 29th in the nation for auto insurance – and drivers have a much lower cost of car insurance than highly-populated states such as California or Texas.

The average cost of car insurance in Florida is approximately $1,476 per year. Of course, your policy’s cost may differ due to your driving history, type of car that you drive or neighborhood that you live in. Your car insurance rates may also vary depending on the specific coverage that you choose to carry on your policy. Because car insurance rates are so variable from one person to the next, you should always obtain a quote specific to your needs before in order to determine how much your insurance will cost.

What determines insurance costs in Florida?

Car insurance rates vary from one state to the next and even between neighborhoods in any given city. There are dozens of factors that determine the cost of auto insurance. One major contributor is the amount of traffic. Large cities will have more expensive insurance than rural communities due to the higher probability of being involved in an accident; similarly, cities with extensive public transportation will have less expensive policies than other areas.

In Florida’s case, there is an existing public transportation system but it’s not as extensive as that in other areas. Commute times are also lower than elsewhere in the country; even the longest average commute in Florida is 85th in the nation, with most ranking even better.

Weather plays a factor in auto insurance coverage as well. If a vehicle has a high likelihood of receiving weather-related damage, it will be more expensive to insure. In the case of Florida, flood damage is the most common peril; hurricanes and rain storms are not uncommon throughout most of the state.

An area’s crime rate also has a large influence in the cost of auto insurance. Property crime, such as vandalism, accounts for a large number of claims in some cities. The lower the crime rate in your area, the less expensive your auto insurance will be. Theft also plays a substantial role in determining the cost of coverage. Florida has the third highest rate of auto theft in the nation, although no city in Florida ranks in the top 10 most theft-prone cities.

Car Insurance Requirements in Florida

Florida’s bodily injury liability limits are $10,000 per person up to $20,000 per incident. You must also maintain a minimum of $10,000 in property damage liability insurance. These limits are quite low, and depending on your situation you may wish to purchase higher limits in order to protect your assets: If you are responsible for an accident, you may have to pay for injuries or damages out of your pocket if they exceed the coverage limits on your policy.

Florida is a no-fault state in regards to injuries

This means that your insurance must cover the majority of your injuries, and limits the amount you are able to sue for whenever you’re involved in an auto accident. Because of these limitations, Florida drivers are also required to carry personal injury protection coverage.

You may also choose to carry uninsured motorist coverage with limits matching those of your own liability, as well as collision and comprehensive insurance. Other coverage, such as rental or roadside assistance, may be available from your insurance company as well.

The less coverage you carry on your policy, the less the insurance will cost. You must balance the cost of your insurance with your needs. If you are making payments to your vehicle, for example, you will be required to carry full coverage auto insurance on your policy. If you own the car outright and it has a low value, you may not wish to carry full coverage.

How to save money on Florida car insurance?

If you have recently moved from Florida from another state, your rates may change dramatically. You can change the coverage on your vehicle in order to save money on insurance and make up any difference caused by the move. You may also be able to obtain discounts from your insurance company for safe driving; you should always check with your insurer to determine what discount programs you may be able to use.

Because auto theft is a concern in Florida, you can protect your vehicle and also reduce your premiums if you take steps to avoid having your car stolen. For example, you can install an anti-theft device on your car or park it in a garage rather than on the street. This will help to keep your premiums low.

You can start looking for an auto insurance policy in Florida by obtaining a free quote online. Once you find a company that you like, you can discuss your needs with your agent or customer service representative to determine the best policy to suit your needs and your finances.