The average cost of auto 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 for auto insurance. While the averages in this area may be higher, motorists still have a few ways to get the cheapest and best car insurance in Tampa, Florida.
The cheapest auto insurance company in Tampa is Geico, according to Bankrate’s 2022 study of quoted annual premiums. While average annual premium data indicates that Geico has the most affordable rates, insurance agents generally advise against selecting a provider based solely on the cheapest rates. You may also want to consider looking at customer satisfaction ratings and financial strength indicators, as these can give you an idea of the provider’s ability to handle a potential claim.
Best cheap auto insurance companies in tampa
The cheapest auto insurance companies in Tampa, Florida, are State Farm, Geico, Allstate and Progressive, according to our analysis of rates from Quadrant Information Services. In addition to finding the cheapest rates, Bankrate rated each provider on its performance regarding coverage options, discounts, and third-party reviews, resulting in our pick of the best Tampa driver insurers. These and other characteristics contribute to each insurer’s Bankrate Score, which is based on a 5-point scale, to form a more accurate picture of what each company has to offer.
Drivers in Tampa face challenges in finding affordable rates, as Florida is one of the most expensive states in the country for auto insurance. However, it is still possible to find options for almost any budget, as well as other benefits such as high customer satisfaction scores and financial strength ratings from outside agencies.
State Farm offers some of the cheapest rates in Tampa for full coverage, based on Bankrate’s study of quoted annual premiums. It is one of the cheapest auto insurance companies in Tampa and scores exceptionally well in JD Power’s 2022 customer satisfaction survey, at 840 points out of 1,000, above the region’s average. While State Farm doesn’t offer as many special coverage options on policies, such as gap coverage, it does offer a wide variety of discounts to help drivers save even more on premiums. In addition, the large network of local agents, the website and the highly rated mobile app provide convenient solutions for managing your policy.
Learn more: Review of state farm insurance
We found that Geico has the cheapest car insurance rates in Tampa for full coverage and minimum coverage among the providers we reviewed. Geico also offers an extensive list of discounts, which can lower premiums even more. Geico’s discounts, such as those for using seat belts and having airbags and anti-theft devices, further help drivers save on affordable rates while still getting the amount and type of coverage they need. Geico doesn’t rank as high as State Farm in JD Power’s customer satisfaction survey, but it’s still above the regional average. It also has an A++ (Superior) financial strength rating from AM Best, highlighting its historic ability to meet its financial obligations to policyholders.
Learn more: Geico insurance review
Allstate is the most expensive of the cheapest and best auto insurance companies in Tampa, and rates are above the average insurance cost in Tampa. While this may not be ideal for every driver’s budget, the company does excel in other areas that can be appealing, including offering numerous discounts. New Car and Smart Student discounts are two examples of the many ways to save with Allstate. The mobile app is also highly rated and offers greater convenience for policy management, including handling claims and updating coverage, which may appeal to tech-oriented drivers.
Learn more: Allstate Insurance Rating
Progressive offers many benefits for auto 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 perform very well in JD Power’s 2022 customer satisfaction survey, scoring the lowest of these four providers on our list.
Learn more: Progressive insurance assessment
How to get and keep the cheapest car insurance in Tampa
With higher than average insurance costs in Florida, the job is to find affordable rates in Tampa and keep them low over time. For those looking for ways to maintain affordable car insurance rates, Tampa drivers can practice the following tips:
- Compare multiple health insurers. Premiums can vary greatly from insurer to insurer, which is why it pays to research and compare more than one insurer. In addition to finding which company offers the lowest rates for your situation, you may prefer to work with one company over another while comparing quotes.
- Keep a clean driving record. While accidents can happen to the best drivers, keeping a clean driving record and staying accident free can help you save even more over time. Not only will you avoid the costs associated with moving violations, such as ticket or court costs, but you can also earn additional discounts on auto 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 quoted are based on a 40-year-old male and female driver with clean driving records, good credit, and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 accidental bodily injury liability
- Property damage liability of $50,000 per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used 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 annually.
These are sample percentages and should be used for comparison purposes only.
Bank Rate Score
Bankrate Scores primarily reflect a weighted ranking of industry-standard ratings for financial strength and customer experience, in addition to analysis of quoted annual premiums from Quadrant Information Services across all 50 states and Washington, DC. We know it’s important for drivers to feel confident their financial protection covers the most likely risks, is priced competitively and is provided by a financially sound company with a history of positive customer support.
To determine how well the top auto insurance companies meet these priorities, external agency ratings from JD Power, AM Best, S&P, NAIC, and Moodys had the most influence on the companies’ Bankrate Scores. Since price is a common consideration for drivers, we analyzed the quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across nearly 35,000 ZIP codes in the US, provided a basis upon which drivers each provider to compare.
While coverage options, insurer availability, affordability and customer experience are often top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is evolving rapidly to keep pace with our digital world, so these aspects have also played a part in determining Bankrate Scores.