Tampa, Florida's Lowest Car Insurance Rates

In Tampa, the minimum insurance policy costs $3,020 on average, or approximately $252 per month, while the city's full-coverage policy costs $4,440, or $370 per month. Quotes are around $970 higher than in the rest of Florida. Minimum-coverage auto insurance might vary by more than $5,000 depending on the insurer. That demonstrates how shopping around can help you save money.

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Who has the most affordable insurance rates in Tampa? Geico

Geico and State Farm had the most reasonable rates in Florida for minimum liability insurance. These companies often charge less than $2,000 per year. A minimum-coverage policy provides the bare minimum of coverage required under Florida law. In heavily populated locations, insurance costs tend to rise. Tampa is the most populous city in the Tampa Bay area and the third-most populous city in Florida, hence insurance prices are higher than the state average.

The minimum liability insurance is the least expensive option for coverage, but it may not be the greatest fit for your specific needs. Keep in mind that a minimum policy does not cover vehicle damage. If you are in an accident and seriously damage your car, your insurance will not cover the charges.

What is the most affordable full-coverage policy for Tampa drivers? Geico

Geico has the cheapest full-coverage policy in Tampa, with an annual premium of $2,331 on average. If you're seeking an alternative, State Farm is the second cheapest option, but it costs $693 more than Geico on average.

A full-coverage policy is more expensive than a minimum-liability policy, but it provides more protection. It includes comprehensive and collision coverage.

• Comprehensive coverage protects you financially from damage caused by situations beyond your control, also known as "acts of God." Natural catastrophes, theft, vandalism, and fires are examples of such incidents.

• Collision coverage protects you from damage caused by colliding with another car or object while driving. For example, if you collide with another vehicle, driving into a ditch, or flipping your car, collision insurance will pay to repair the damage.

A full-coverage policy will benefit you the most if your car is less than ten years old and worth more than $3,000 in value. However, if your automobile isn't worth much, buying in a full-coverage policy may not be worthwhile. You may end up paying more for insurance than your vehicle is worth.

What is the cheapest full coverage for young drivers? Geico

Geico has the cheapest insurance quotes for young drivers in Tampa, with an average annual cost of $4,070 – somewhat less than the city average.

One of the most important elements influencing insurance premiums is age. On average, young drivers pay more for vehicle insurance than middle-aged drivers. Teenage drivers are the most likely of any age group to be involved in an accident, making them a risk to insure. The average cost of full-coverage insurance for young drivers is roughly double that of drivers in their 30s. There are other steps that every motorist, particularly young drivers, should take to reduce insurance costs:

• Combining plans with parents or relatives from a low-risk category is a good idea. Rates for a combined or multicar insurance plan are higher than rates for a single car or driver. A combination plan, on the other hand, is less expensive than two individual insurance.

• Look for bargains. Most insurers provide a variety of discounts to drivers. You can get a discount if you get good marks in school, take a defensive driving course, and install anti-theft equipment on your car.

• Obtain quotations from additional insurance. For young Tampa drivers, the difference between the lowest and most expensive insurers is more than $8,000. Look into smaller insurers as well as well-known ones to see whether they give low-cost quotes.

Cheapest insurance for drivers with a history of accidents

Drivers in Tampa who have had an accident may consider Geico, which provided us with the best pricing for vehicle insurance after an accident. Drivers with a history of even a single accident are well aware that it has a significant impact on insurance premiums. Following an accident, insurance premiums typically rise. Following an accident, the following companies raised their pricing the least:

• State Farm Insurance

• Geico

• Direct General

Accidents can raise your insurance prices and disqualify you from good and safe driver discounts. It's critical that when you get quotes, you also inquire about how an accident will affect your rates. Best auto insurance companies in Tampa based on customer service

When looking for the best insurance for your needs, you should evaluate both price and service quality. Amica, Florida Farm Bureau, Southern-Owners, and Progressive provide the best service, as judged by the frequency of customer complaints. For additional details, see our complete breakdown of the best car insurers in Florida.

The cost of car insurance varies by ZIP code and neighborhood in Tampa.

Your annual auto insurance prices in Tampa will be influenced by your neighborhood. If you live in New Tampa, Tampa's cheapest neighborhood, you'll pay $757 less than a friend or coworker in Northwest Tampa, a tourist destination and one of the city's most expensive neighborhoods.

Statistics about auto theft in Tampa, Florida.

Tampa has the lowest rate of auto theft among Florida's eight largest cities. Car theft in the city is approximately half that of Jacksonville, Florida's most populous city.

Companies that provide auto insurance in Tampa, Florida.

The top 11 auto insurance companies in Florida write almost 82 percent of all premiums. Among other things, each large insurer differs in terms of average pricing, number of insurance offers, and service quality. If you're contemplating whether to get insurance from a large or small organization, consider the advantages and downsides of each, as well as your particular needs. Large insurers offer more savings, policies, and availability, but they lack the customized service approach that small insurers have.

Auto insurance in Tampa: Florida's minimum insurance requirement

The state of Florida establishes car insurance coverage regulations. To be able to drive lawfully in Tampa, all drivers must complete the following requirements:

• Personal injury protection (PIP) is capped at $10,000 per accident.

• Property damage liability (PDL) is capped at $10,000 per accident.

Because insurance in Florida is often more expensive than in other states, you may be tempted to get the bare minimum of coverage. However, if you are involved in a costly accident, a minimum-liability coverage may not be enough to protect you financially. Drivers who own expensive or new vehicles may consider increasing their coverage level or purchasing additional insurance.

No-fault State
No-fault insurance pays for your medical bills after an accident, regardless of who was at fault. Following an accident, drivers are not permitted to make claims or seek legal action against another driver. Personal injury protection (PIP) is the form of no-fault coverage required in Florida, and it pays for medical expenditures for you and your passengers.

Florida's financial responsibility legislation: SR-22 and FR-44 insurance plans
If you are convicted of driving under the influence or without insurance, Florida's financial responsibility law requires you to carry additional coverage and higher coverage limits in the form of SR-22 or FR-44 insurance.

Insurance requirements for SR-22 vehicles
Drivers who do not have insurance or have too many points on their license are considered high risk. These drivers may need to request that their insurance company file an SR-22 endorsement. The form serves as verification that you meet the insurance coverage requirements listed below:

• Liability for bodily injury: $10,000 per person/$20,000 per accident

• Liability for property damage is $10,000 per accident.

The length of time you must have an SR-22 endorsement must be confirmed with your local Department of Motor Vehicles (DMV). In most situations, you will need to have an SR-22 on file in Florida for at least three years.

Insurance requirements for the FR-44
FR-44 is typically necessary for drivers who have been convicted of driving under the influence (DUI) or driving while drunk (a DWI). Because of the nature of these violations, drivers submitting for FR-44 must pay for much higher coverage limits.

• Liability for bodily injury: $100,000 per person/$300,000 per accident

• Liability for property damage is $50,000 per accident.