Tampa, Florida is home to nearly 393,000 inhabitants with an average engine of two cars. Drivers in Tampa spend an average of 24 minutes to get to and from work each day. All Florida residents must have a valid, active auto insurance policy to legally drive. With the average annual Tampa auto insurance rates being $ 1,514 for minimum coverage insurance and $ 3,027 per year for full coverage insurance, take action to find the best good auto insurance companies. Market in Tampa could potentially save you a lot of money on premiums.
Bankrate has reviewed over a dozen auto insurance providers to find the best cheap auto insurance companies in Tampa. Our criteria involved narrowing down insurers with competitive premiums and strong customer satisfaction ratings. Here is Bankrate’s shortlist of the best cheap auto insurance providers in Tampa.
Best Auto Insurance Companies in Tampa
Four providers were recognized as the best auto insurance companies in Tampa, Florida, based on average premiums and JD Power Auto Insurance Study 2020 rankings. Each provider offers additional coverage options and offers drivers multiple savings opportunities.
|Insurance company||JD Power Score
|Average annual premium for minimum coverage||Average annual premium for full coverage|
|Geico||846 / 1,000||$ 1,079||$ 2,597|
|State farm||826 / 1,000||$ 1,247||$ 2,327|
|Allstate||851 / 1,000||$ 1,654||$ 3,433|
|Progressive||834 / 1,000||$ 1703||$ 3,218|
Geico offers low-cost coverage to Tampa drivers, with the lowest average rates for minimum coverage, as well as a variety of discounts available. There are 16 discounts available that offer savings for several types of drivers, including good students, federal and military employees, and owners of vehicles with safety equipment.
Geico ranked among other Florida vendors, winning second place in the JD Power Auto Insurance Study 2020.
State Farm is the second cheapest for basic coverage, but has the cheapest average Tampa rates for full coverage. The provider offers a variety of policies for your vehicle, including rental and rideshare insurance. If you own higher value vehicles, like sports cars or classic cars, State Farm offers special coverage options to help make premiums more affordable. Of the society range of savings discounts up to 15% for completion of a defensive driving course up to 40% for passive restraint systems installed in vehicles manufactured in 1993 and before. Depending on your qualifications, you can apply these or other discounts to your premium to help you fit your auto insurance budget.
Allstate won first place in the JD Power Auto Insurance Study 2020 for the Florida region, with 851 out of 1,000 points. basic types of cover required in Tampa, you can also insure your vehicle’s audio system, add roadside assistance, or purchase an umbrella policy to extend your auto insurance liability limits. If you are a vintage car collector, Allstate also allows you to insure your vintage vehicle.
Although Progressive is on average in the upper price bracket, its premiums are still competitive in the city of Tampa. There are nearly 80 agents available locally who could help drivers make sure they have the best possible coverage for their vehicles and their situations. According to Progressive, drivers who change operators can save on average $ 750 per year on their insurance premiums. Go for the Deductible savings bank and you can also get $ 50 deducted for each loss and incident free policy period. You can put these extra savings aside in the event of a claim requiring a deductible.
Cheapest auto insurance in Tampa
Drivers in Tampa typically pay significantly more for auto insurance than the Florida state average. The city’s annual premiums are $ 1,514 for minimum coverage and $ 3,027 for full coverage, compared to Florida’s annual averages of $ 1,101 and $ 2,364 for minimum and full coverage, respectively. Tampa’s rates also exceed the national averages of $ 565 per year and $ 1,674 per year for the same types of coverage.
While Tampa’s busy roads may be a cause of its higher premiums, the following five providers have stood out by offering the cheapest auto insurance rates on average for area drivers.
|Insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
|Geico||$ 1,079||$ 2,597|
|State farm||$ 1,247||$ 2,237|
|Allstate||$ 1,654||$ 3,433|
|Progressive||$ 1703||$ 3,218|
|MetLife||$ 1,827||$ 3,458|
Geico and State Farm offer coverage below the city averages for minimum and full coverage, although your rates may be different depending on a number of personal factors. Fortunately, each of the named providers offers a plethora of discounts, including those for safe drivers. Each provider also has a mobile application where policyholders can submit claims from the convenience of their mobile devices.
There are many factors that determine the true cost of your auto insurance, which is why it is important to shop around before choosing an insurance company. Exact quotes may vary based on your age, driving history, credit score, policy options, and limits, among other variables. Although Geico is the cheapest insurance company in Tampa by average rates, you can get a better quote from a competitor based on your unique information.
Tampa Insurance Requirements
Because Florida is a no-fault state, Tampa’s insurance requirements are more comprehensive than those in other parts of the country. When shopping for a new blanket, the minimum amounts you will need to legally drive are the following:
- Property damage: $ 10,000 per accident
- Injury protection: $ 10,000 per accident
State requirements are only guidelines for the minimum amount of coverage for all drivers. You may need higher levels of coverage than the minimum, especially if you are leasing a vehicle or driving a higher value vehicle.
Full coverage insurance refers to a set of coverages, often including property and casualty and collision insurance, that reimburses or pays for the replacement of your vehicle if it is lost or damaged due to a covered loss. Umbrella insurance adds additional coverage beyond the limits of your auto policy, in case you are responsible for a larger settlement or claim than what your base policy covers.
Auto Insurance Discounts in Tampa
Tampa residents have unique needs compared to other Florida drivers. Since the cost of auto insurance in this city is typically higher than the state average, finding savings wherever you can is essential. Some discounts that drivers in Tampa should consider looking for are:
- Multi-vehicle: The average house in Tampa has two vehicles. Bundling them together into one policy could save you money on your auto insurance.
- Senior driver discounts: Retirees can take advantage of discounts for older drivers offered by many auto insurance companies in Tampa.
- Student discounts: Tampa is home to several colleges, including the University of Tampa, University of South Florida, and Florida College. University students can usually take advantage of discounts on auto insurance for drivers.
- Defensive driver discount: Investing time in an online defensive driving course could have a few benefits: You could improve your driving skills to reduce the chances of being involved in an accident and potentially get a discount on your auto insurance.
Frequently Asked Questions
What is the best auto insurance company?
It’s hard to name a single auto insurance provider as the best when there are a handful of quality auto insurance companies to choose from. Look for a carrier that gives you the best level of coverage and service for a price that fits your budget. To do this, get quotes from several of the best carriers to compare and decide based on your personal criteria.
How Much Does Auto Insurance Cost in Tampa?
The average cost of auto insurance in Tampa is well above the state average of $ 1,101 per year for minimum coverage and $ 2,364 per year for full coverage. Instead, Tampa drivers can expect to pay Tampa $ 1,514 per year for minimum coverage and $ 3,027 per year for full insurance, on average.
How Much Car Insurance Do I Need in Tampa?
Florida is a no-fault state and requires drivers, including those in Tampa, to carry at least $ 10,000 in personal injury protection (PIP) and property damage liability (PDL). However, most insurance experts recommend buying more than the minimum coverage limits. Without more comprehensive accident coverage that exceeds your minimum amounts, you could have significant out-of-pocket expenses to recover damage.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40-year-old male and female driver with a driving record of cleaning, good credit and the following comprehensive coverage limits:
- $ 100,000 of civil liability for bodily injury per person
- $ 300,000 liability for bodily injury per accident
- Civil liability for property damage of $ 50,000 per accident
- $ 100,000 in bodily injury caused by an uninsured motorist per person
- $ 300,000 in uninsured bodily injury per accident to a motorist
- $ 500 collision deductible
- Global deductible of $ 500
To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our sample drivers own a 2019 Toyota Camry, commute five days a week, and travel 12,000 miles a year.
These are sample rates and should only be used for comparison purposes. Your quotes may be different.