The average cost of car insurance in Tampa for full coverage is $3,459 per year, or $288 per month, while minimum coverage averages $1,292 per year. Tampa’s annual rates are among the highest in the country, as Florida remains one of the most expensive states overall for car insurance. Although the averages may be higher in this area, drivers still have a few ways to get the cheapest and best auto insurance in Tampa, Florida.
Tampa’s cheapest car insurance company is Geico, according to Bankrate’s 2022 Listed Annual Premiums Study. Although average annual premium data indicates that Geico has the most affordable rates, insurance agents generally advise against choosing a provider solely on the basis of the cheapest rates. You may also consider looking at customer satisfaction ratings and financial strength indicators, as these can give you an idea of the supplier’s ability to handle a potential complaint.
Best Cheap Auto Insurance Companies in Tampa
The cheapest car insurance companies in Tampa, Florida are State Farm, Geico, Allstate, and Progressive, according to our Quadrant Information Services rate analysis. In addition to finding the cheapest rates, Bankrate reviewed each provider for their performance on coverage options, discounts and third-party reviews, which helped us select the best insurers for drivers of Tampa. These and other attributes contribute to each insurer’s Bankrate Score, which is based on a 5-point scale, to help form a more accurate view of what each company offers.
Tampa drivers have a hard time finding affordable rates because Florida is one of the most expensive states in the country when it comes to car insurance. However, it’s still possible to find options for almost any budget, along with other benefits, such as high customer satisfaction scores and financial strength ratings from third-party agencies.
State Farm offers some of the cheapest rates in Tampa for comprehensive coverage, based on Bankrate’s quoted annual premium study. It is one of the cheapest auto insurance companies in Tampa and scores exceptionally well in the 2022 JD Power Customer Satisfaction Survey, earning 840 points out of 1,000, above the region average . While State Farm doesn’t offer as many specialty coverage options for policies, such as gap coverage, it does offer a wide range of discounts to help drivers save even more on premiums. Plus, the extensive local agent network, website, and highly-rated mobile app provide convenient solutions for managing your policy.
Learn more: State Farm Insurance Review
We’ve found that Geico has the cheapest auto insurance rates in Tampa for full coverage and minimum coverage among the providers we’ve reviewed. Geico also offers a long list of discounts, which can reduce premiums even further. Geico’s discounts, such as those for seat belt use and airbags and anti-theft equipment, help drivers save more on affordable rates while getting the amount and type of coverage they need. need. Geico doesn’t score as high as State Farm in JD Power’s customer satisfaction survey, but it’s still above the region’s average. It also has an A++ (Superior) financial strength rating from AM Best, highlighting its historical ability to meet its financial obligations to policyholders.
Learn more: Geico Insurance Review
Allstate is the most expensive of the cheapest and best car insurance companies in Tampa, and its rates are higher than the average cost of insurance in Tampa. While this isn’t ideal for every driver’s budget, the company excels in other areas that can be appealing, including offering plenty of discounts. New car discounts and smart students are two examples of the many ways to save with Allstate. The mobile app is also highly rated and offers more convenience for managing policies, including handling claims and updating coverage, which may appeal to tech-focused drivers.
Learn more: Allstate Insurance Review
Progressive offers many benefits for car insurance in Tampa, including a variety of policy customization options, such as roadside assistance and windshield coverage. It also offers impressive discounts, including the popular Name Your Price tool, where you first enter your budget to see what coverage options are available to you. However, Progressive didn’t do very well in JD Power’s 2022 customer satisfaction survey, and it scored the lowest of these four vendors on our list.
Learn more: Progressive Insurance Review
How to Get and Keep the Cheapest Auto Insurance in Tampa
With Florida’s above-average insurance costs, finding affordable rates in Tampa and keeping them low over time takes work. For those looking for ways to keep auto insurance rates affordable, Tampa drivers can put the following tips into practice:
- Compare several insurers. Premiums can vary widely from insurer to insurer, which is why it pays to research and compare more than one company. In addition to finding the one that offers the lowest rates for your situation, you may prefer working with a certain company over another while comparing quotes.
- Maintain a clean driving record. Even though the best drivers can have accidents, maintaining a good driving record and being accident-free can help you save even more over time. Not only do you avoid the costs associated with moving violations, such as traffic tickets or court fees, but you can usually get additional discounts on car insurance premiums for being a safe driver.
Frequently Asked Questions
Bankrate uses Quadrant Information Services to analyze 2022 rates for all zip codes and carriers in all 50 states and Washington, D.C. Rates shown are based on a 40-year-old male and female with a clean driving record, credit and the following complete information coverage limits:
- Civil liability of $100,000 in bodily injury per person
- Civil liability of $300,000 in bodily injury per accident
- Civil liability of $50,000 in property damage per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 aggregate deductible
To determine minimum coverage limits, Bankrate has used a minimum coverage that meets each state’s requirements. Our basic profile drivers own a 2020 Toyota Camry, commute five days a week, and drive 12,000 miles a year.
These are sampling rates and should only be used for comparison purposes.
Discount rate score
Exchange rate scores primarily reflect a weighted ranking of industry standard ratings for financial strength and customer experience, in addition to analysis of annual premiums quoted by Quadrant Information Services, covering all 50 states and Washington, D.C. DC We know it’s important for drivers to feel confident that their financial protection covers the most likely risks, is priced competitively and is provided by a financially strong company with a track record of positive customer support.
In determining how well the top auto insurance companies meet these priorities, third-party agency ratings from JD Power, AM Best, S&P, NAIC and Moodys had the most impact on the companies’ currency scores. . Since price is a common driver consideration, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, rated on nearly 35,000 U.S. zip codes, has provided a basis on which drivers can compare each supplier.
While coverage options, insurer availability, affordability and customer experience are often top priorities, Bankrate also analyzed each insurer’s online and mobile resources for managing policies and handling claims. Insurance is changing rapidly to keep pace with our digital world, so these aspects have also weighed in determining the exchange rate scores.