Cheapest Low-Income Car Insurance In Florida 2024
While Florida does not provide government-backed car insurance programs for low-income drivers, affordable coverage can be found from State Farm, for $50 per month.
We’ve saved shoppers an average of $600 per year on their car insurance.
State Farm offers the cheapest car insurance rates for low-income drivers in Florida, for $50 per month. Florida does not offer specific programs for low-income individuals, or families, but shopping around to find the best rates is a great way to reduce the cost of car insurance.
With over 15 years as a licensed insurance agent; I am well familiar with the insurance companies reviewed in this guide, and in fact have actually been insured by some of them. Every one of these car insurance companies have good ratings and reputations in the industry, and every one has its own set of strengths when it comes to providing protection for Floridians who need car insurance.
Cheapest Low-Income Car Insurance In Florida, 2024
Does Florida have a Government-Sponsored Car Insurance Program For Low-Income Families?
No, Florida doesn’t offer a government sponsored auto insurance program for low income drivers. A minimum of liability car insurance is legally required in Florida and is mandatory to legally drive and register your vehicle. This liability insurance is much lower cost than full coverage, or comprehensive.
Minimum Car Insurance Requirements In Florida
Florida law requires drivers to have liability insurance to help cover the associated cost of auto accidents. The legal minimum coverage amounts required for Florida drivers is shown below.
Each auto insurance coverage must include a minimum of:
- $10,000 in personal injury protection (PIP) per person.
- $10,000 in personal injury protection (PIP) per accident.
- $10,000 in liability benefits for property damage. This covers the cost of damage done by a covered driver to someone else’s property in an accident, such as damage to another driver’s vehicle
Florida has the lowest requirements for drivers of any state in the nation, but one in six residents are still uninsured. Florida is also one of the only states that does not require drivers to carry bodily injury coverage.
These are the minimums as required by Florida law, but it would pay any driver to consider whether this amount of coverage would be enough to protect you financially in the event of a crash. You could be held responsible for the difference if the expenses of an auto accident are more than your insurance coverage. This is enough to cause many drivers to opt for higher levels of coverage in order to have adequate protection.
Full Coverage Options
“Full coverage” isn’t an official insurance company term but is widely used. It generally pertains to a combination of different types of coverage that together will serve as an inclusive shield against possible damage and loss in an a vehicle accident. In most cases, it includes liability coverage (bodily injury and property damage), collision coverage, and comprehensive coverage.
Liability coverage is for costs caused by injuries and/or property damage to others in an accident caused by the insured driver. Collision coverage will take over if your car has damage as the result of a collision with another vehicle or object.
Comprehensive insurance coverage steps in for non-collision related incidents like theft, fire, vandalism, and natural disasters. Full coverage car insurance is a complete package specifically designed to provide all-in-one coverage that delivers peace of mind both off and on the road.
Compare Low-Income Car Insurance Companies In Florida
| Overall Rating (Best 5.0) | Best Suited For | A.M. Best Rating | J.D. Power Rating (Best 1000) | Average Monthly Cost* | Get A Quote | |
|---|---|---|---|---|---|---|
| State Farm |
|
Cheapest Overall |
A++ |
838 |
$56 |
Instant Quote |
| GEICO |
|
Poor Credit |
A++ |
801 |
$60 |
Instant Quote |
| Nationwide |
|
Seniors |
A+ |
NR |
$80 |
Instant Quote |
Cheapest Low-Income Car Insurance Companies In Florida 2024
Cheapest Overall
Key Statistics
Why We Like Them
⇅Florida has a highly competitive car insurance market, but the provider that stands out for coverage, plus as the winner in being the most affordable option, is State Farm.
After meticulous research and reviewing Florida’s car insurance rates, we found that State Farm offers some of the most affordable full coverage auto insurance rates with premiums as low as $151 per month.
If you’re a driver on a tight budget who needs to find comprehensive protection that won’t send you into sticker shock, State Farm can provide it.
Not only does State Farm provide affordability, it’s also consistently rated up there with the best car insurance companies overall. Well known for its variety of money saving discounts and coverages catering to many different needs, State Farm is a wise choice for car insurance.
A winning combination of affordability, flexible plans to suit every need, and comprehensive coverage gives State Farm a boost in Florida’s auto insurance market. It’s an excellent choice for drivers who don’t want to sacrifice quality for cost.
Benefits & Drawbacks
⇅- Superior AM Best financial strength rating
- Cheapest rates for most drivers in Florida
- Numerous coverage options and discounts available ✓
- Must buy from a State Farm Agent ✘
If you want to be able to drive free of worry about the financial burden you could incur with liabilities and potential damages in case of an accident, it’s vital to have adequate car insurance. In addition, due in part to its busy roads, Florida has a high number of accidents, which makes cost-effective auto insurance in Florida even more critical.
Low-cost car insurance doesn’t automatically mean that you’ll be sacrificing high value coverage. Do some research and compare car insurers so that you can make an informed decision. If you do this, you will be able to get adequate car insurance that fits your budget and your coverage needs.
| Insurance company | Monthly Rate |
| State Farm | $50 |
| GEICO | $63 |
| Farm Bureau | $90 |
| Progressive | $141 |
| Nationwide | $176 |
Cheapest for Seniors
Key Statistics
Why We Like Them
⇅A senior searching for the best and most budget conscious car insurance in Florida would be well advised to take a look at Nationwide. This isn’t just my personal narrative, it’s based on hard facts and statistics from research of the car insurance industry and customer reviews, also.
Nationwide’s rates are more than competitive with other insurers in Florida. Policy holders with Farm Bureau see a yearly rate of about $1210.00, those with Home State Insurance pay about $2,079 per year.
Nationwide isn’t only cheaper, it offers coverage specifically written for senior drivers. This makes Nationwide the go-to auto insurance for wallet conscious seniors who want economical coverage that is adequate for their needs.
Benefits & Drawbacks
⇅- Comprehensive mobile app for digital policy management
- Auto, homeowners, life, and other insurance products available
- High financial strength ratings ✓
- Can only buy from Nationwide agents
- Not rated by J.D. Power for customer service ✘
As time goes by and drivers get older, they may notice that their auto insurance premiums are going up. There’s a reason for this. Car insurance companies usually perceive senior drivers as high risk, much the same as teenagers.
This is based on factors such as: slower reaction times, possible age related health issues that could affect someone’s ability to drive, as well as the likelihood that injuries sustained from a car crash are often more serious in an older driver. All of these elements and more are part of the preconception that older drivers are more of a risk than the population in general.
Based on a study conducted by the Insurance Institute for Highway Safety (IIHS), rates of fatalities from a car crash begin to rise markedly starting at age seventy. Fatalities sustained in a car accident are the highest among drivers in the 85 years old and older age group.
The result of all this is that older drivers might see their premiums rise, in an effort by the insurer to counterbalance the potential for increased claims.
The good news for seniors is that a lot of car insurance carriers offer discounts that have been designed for older drivers. This helps minimize the higher rates while providing affordable, comprehensive coverage.
| Insurance company | Monthly Rate |
| Nationwide | $64 |
| State Farm | $66 |
| GEICO | $72 |
| USAA | $78 |
| AAA | $121 |
Best for Poor Credit
Key Statistics
Why We Like Them
⇅If you have poor credit and need car insurance, GEICO is probably going to be your best choice, since it’s the cheapest and best overall in Florida for drivers that fall into this category. Many reports and studies have shown time and again that GEICO is the most economical option for drivers with a credit score that falls below perfect.
However, you shouldn’t think that GEICO’s lower price equals lower quality. This well established and reputable company has a long history of excellent comprehensive coverage along with above average customer service. This means that all drivers, regardless of their credit score, can have protection on the highway. Offering adequate, cost effective car insurance coverage plays a big part in making GEICO a good choice for drivers with poor credit in Florida.
GEICO understands that a poor credit score doesn’t always equal a high risk driver. Although some car insurance companies might raise the premiums of customers with less than perfect credit, GEICO tends to take a more equitable approach, taking into consideration other factors like driving record and vehicle type.
Guided by this type of analysis, GEICO is able to offer competitive rates to drivers with poor credit, making this insurer the top choice for many Floridians.
Benefits & Drawbacks
⇅- Superior AM Best financial strength rating
- Numerous coverage options and discounts are available
- Cheapest rates for most drivers in Florida with poor credit ✓
- Not as many GEICO agents in Florida compared to many large competitors
- Digital tools are available but aren’t as robust as some competitors ✘
There is often a link between a low credit score and a low income that causes premiums with many car insurance companies to be double that of drivers with good credit.
If you happen to be a driver with poor credit, locating a carrier that has discounts available—and being careful to avoid any moving violations–can do a lot in keeping your auto insurance rates reasonable.
| Insurance company | Monthly Rate |
| GEICO | $317 |
| Farm Bureau | $319 |
| Travelers | $340 |
| USAA | $348 |
| Nationwide | $357 |
Find Affordable Car Insurance In Florida
Does Income Affect Car Insurance Rates In Florida?
Your income doesn’t directly impact the cost of your coverage. However, car insurance companies will consider a wide variety of other information in order to calculate your premiums. This information includes the vehicle you drive, your age, your driving history, your location, and more, in addition to the level of coverage you choose.
How To Save On Car Insurance Costs In Florida
Navigating through the car insurance landscape in Florida can be challenging, but by using the proper tactics, you can reduce your rates significantly. Here are three tips proven to help Florida drivers save money on their car insurance:
Compare Rates From Different Providers
If you want to save some cash on car insurance, you’ll need to scout around and compare rates between insurers. Car insurance providers calculate rates based on various factors, such as your age, driving history, and location, among other things.
So, rates can vary substantially from one carrier to the next. It pays to take your time and get quotes from a number of companies, then select the one that will give you the most bang for your buck, as well as suit your coverage needs.
Leverage Discounts
Most auto insurers have discounts available that might help to lower your rates. These discounts could include: bundling or having multiple policies with the same company, being a good student, safe driving, or your vehicle’s safety features. Ask the company rep about any discounts available, and then find out which of them you are eligible for.
Adjust Your Coverage And Deductibles
Another way of saving money on car insurance is adjusting your coverage along with your deductible. For example, if you drive an older car, you might think about dropping both collision and comprehensive coverage, since the cost might be more than the value of your vehicle.
In addition, you might want to consider raising your deductible (which is the amount you’ll pay out of your own pocket if you have a claim) to lower your premium. Just make sure the deductible amount is one you’ll be able to easily pay in the event of an accident.
Car Insurance Discounts For Low-Income Drivers In Florida
Car insurance discounts are a great way to save on premiums. Refer to the table below for some common discounts you may be eligible for.
| Discount Type | % Discount |
| Payment type | 11% |
| Paperless documents | 4% |
| Education | 6% |
| Profession | 17% |
| Anti-theft devices | 2% |
Compare Car Insurance Rates In Florida – By City
Car insurance premiums in Florida vary significantly by city, influenced by factors such as traffic density, accident rates, and local crime statistics. Here’s a comparison of average premiums in several cities in Florida:
| City | Average Annual Rate |
| Jacksonville | $2,681 |
| Orlando | $3,419 |
| Tampa | $3,037 |
| Gainesville | $2,855 |
| St. Petersburg | $2,530 |
Our methodology
In the process of gathering information and data for this review, we've drawn upon a thorough analysis made up of numerous factors including: pricing, product options, customer service ratings, along with an impartial evaluation of multiple online review sites and last but not least, experience of users. The resulting review is a diligently researched, in-depth view of the provider landscape as it pertains to car insurance. All of the data and information in this review is made up of an informed perspective honed by over 15 years of personal experience in the car insurance industry as a licensed agent, many interactions with representatives from various companies, along with insights gleaned from our hands-on experience of purchasing car insurance in Florida.
Quotes Analyzed
Brands Reviewed
Years Of Experience
Research Hours
FAQs
How can low income families get affordable car insurance in Florida?
If a low income driver in Florida shops around, comparing rate quotes from various insurers and taking advantage of discounts offered, it’s possible to save a significant amount on car insurance
What is the minimum amount of car insurance you have to carry in Florida?
Florida law mandates that drivers have a minimum amount of car insurance. These amounts are: $10,000 for injury/death of one person per accident, and $5,000 for property damage.
