Automobile

Cheap Car Insurance in Tampa, Florida

Table of Contents

  • Car Insurance: Tampa Rates vs. State + National Averages
  • Tampa Auto Insurance Costs by Insurer
  • Tampa Auto Insurance Premiums by Driver Age
  • Tampa Car Insurance Premiums by Gender and Marital Status
  • Average Tampa Insurance Rates After a Violation or Accident
  • Tampa Auto Insurance Premiums by Credit Tier
  • Expensive Tampa Zip Codes
  • Cheaper Tampa Zip Codes
  • List of Insurance Companies in Tampa
  • No-Fault Insurance in Tampa Information

    In any city in Florida, including Tampa, there are minimum insurance requirements to legally operate a vehicle. Your insurance must contain at least:

    • $10,000 personal injury protection per accident
    • $10,000 property damage per accident
    • $10,000 bodily injury liability per person
    • $20,000 bodily injury per accident

      If you are found to be the responsible party in an accident, failing to have the proper insurance can violate the Florida Financial Responsibility Law and result in fines and other financial consequences.

      Florida rates tend to be higher than many states, prompting drivers to opt for only minimum coverage. Insurance companies advise against this, especially if you drive an expensive vehicle, as the minimums may not provide you with enough coverage, and you could have to pay out of pocket for some of the damage.

      Car Insurance: Tampa Rates vs. State + National Averages

      On average, drivers in Tampa will pay around $2990 a year for car insurance which is just slightly above the average of $2309 in Florida but significantly more expensive than the national average of $1548.

      Tampa Auto Insurance Costs by Insurer

      While there are a few smaller insurance companies in Tampa, most of the carriers utilized by drivers are one of the four major national companies listed below. Check out how their annual rates stack up against each other.

      • GEICO: $1469
      • State Farm: $1869
      • MetLife: $2391
      • Direct General: $2525
      • Progressive: $3766
      • Allstate: $6097

        Tampa Auto Insurance Premiums by Driver Age

        The age of a driver can significantly impact the annual premium amount that drivers will pay in Tampa. Teenage drivers will pay the highest rates for premiums, while 50-year-olds will pay the lowest. Much of the difference is based on the driver’s level of experience, though once you hit senior level in your 60s, you will see a slight uptick in rates. According to Insurify, below are the average annual rates drivers can expect to pay based on their age.

        • Teens: $8520
        • Under 25: $3794
        • 30-year-olds: $2980
        • 40-year-olds: $2926
        • 50-year-olds: $2757
        • 60-year-olds: $2807
        • 70-year-olds: $3425

          Tampa Car Insurance Premiums by Gender and Marital Status

          Although it will not have as drastic an effect as the driver’s age, sometimes gender and marital status can affect rates as well, depending on the chosen carrier. For example, since single drivers are statistically more likely to get in an accident than married drivers, they will often see rates that are about $100 higher. Based on Florida state statistics, female drivers will file more claims, making their premiums about $100 higher per year on average.

          • Women: $3000
          • Men: $2900
          • Single: $2900
          • Married: $2800

            Average Tampa Insurance Rates after a Violation or Accident

            According to The Zebra, the second most significant factor in determining annual premium rates in Tampa is a driver’s driving history. Moving violations, tickets, and accidents can result in rate increases. The violations that can have drivers seeing the largest spike in rates are DUIs and reckless driving, increasing their yearly premium by almost $1500. Below you will see how common violation can change the average annual premium rate.

            • DUI: $4300
            • Reckless driving: $4500
            • Accident: $4100
            • Speeding: $3700

              Tampa Auto Insurance Premiums by Credit Tier

              As mentioned by ValuePenguin, having a good credit score can help you get great savings on your car insurance in Tampa. Drivers who have moved their scores from the poor to the excellent range can see their rates decrease by almost 61 percent. Even jumping from poor to good can decrease your annual premiums by over $2000.

              • 300-549: $6060
              • 550-619: $3700
              • 620-679: $2990
              • 680-739: $2704
              • 740-850: $2380

                Expensive Tampa Zip Codes

                Crime rates, traffic, and population density can also factor into your annual premium rates since high rates of these can lead to more claims. When you live in these areas, you can expect your premiums to be on the higher end, MoneyGeek states. the most expensive zip codes in Tampa are:

                • 33604
                • 33607
                • 33614
                • 33605
                • 33603

                  Cheaper Tampa Zip Codes

                  While there are expensive zip codes for insurance, there are also ones where premiums will be on the lower spectrum since they are considered lower risk levels. The cheapest zip codes in Tampa include:

                  • 33592
                  • 33569
                  • 33549
                  • 33647
                  • 33650

                    List of Insurance Companies in Tampa

                    Several insurance companies are available in Tampa, which can provide you with plenty of options when trying to secure the best rate. In Tampa, the lowest rates are available from GEICO and the second cheapest option is State Farm. Along with Direct General, these two companies can also offer the most competitive rates for drivers who have had a moving violation or accident on their record.

                    Companies like Progressive and Allstate are on the higher end of premium rates but offer different coverages that are not available with other companies. They also offer several discounts and safe driver monitoring, which can also significantly lower your rate.

                    Companies like MetLife and Amica fall in the middle of the road when it comes to rates but boast more personalized customer service.

                    No-Fault Insurance in Tampa Information

                    Florida is a no-fault state which means that it will be your insurance covering the costs for medical bills and property damage for your vehicle, you, and your passengers, no matter who was the cause of the accident. It also means that driver will not be able to file lawsuits against the other driver after an accident. As stated by NerdWallet, no-fault coverage also requires personal injury protection coverage, which is part of the reason Tampa rates are higher.

                    Check this out if you need additional information, resources, or guidance on car insurance.

                    Sources:

                    Car Insurance | caranddriver.com

                    Cheap Auto Insurance Quotes in Tampa, FL (2021) | insurify.com

                    Best Cheapest Car Insurance Rates in Tampa, Florida | valuepenguin.com

                    Best Cheap Car Insurance in Florida for 2021 | nerdwallet.com

                    Compare the Cheapest Car Insurance Quotes in Tampa, FL | moneygeek.com

                    Tampa, FL Car Insurance | thezebra.com

                    Florida High-Risk Auto Insurance: Everything You Need to Know | caranddriver.com

                    What Is Considered Full Coverage Auto Insurance in Florida? | caranddriver.com

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