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Best cheap car insurance in Tampa for 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best car insurance companies in Tampa
Florida remains one of the most expensive states overall for car insurance. Despite the high rates, drivers may still be able to find affordable auto coverage in Tampa, FL. According to Bankrate’s research, below are some of the best companies that offer fairly affordable rates in Tampa.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why State Farm made our list: State Farm provides some of the cheapest average full coverage car insurance rates in the Big Guava, based on Bankrate’s study of car insurance rates in Tampa. In addition to being one of the cheapest car insurance companies in Tampa, State Farm scored high in the Florida region in the J.D. Power Auto Insurance Study. It offers a wide variety of customer service options, including brick-and-mortar locations.
Why State Farm may be the best for local agents: State Farm has over 20 local agents in the city. If you want to talk to an agent face-to-face who can explain coverage options, this insurer may be the right choice for you. Although State Farm does not offer as many specialty coverage options for policies, such as gap coverage, it does offer a wide array of discounts that may help drivers save even more on premiums that may be easier to understand in person.
| Bankrate Score | 4.3 |
| J.D. Power | 650/1,000 |
| AM Best Rating | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Geico made our list: Geico offers low average premiums in Tampa for both full and minimum coverage. In addition to an above-average score from the J.D. Power Auto Insurance Study in the Florida region, Geico holds a financial strength rating of A++ (Superior) from AM Best, which may appeal to drivers concerned about Florida’s volatile insurance market. Geico also tied for Best Auto Insurance Company and Best Budget Auto Insurance Company, and was named Best for Young Drivers in the 2024 Bankrate Awards. Geico does not underwrite its own home or life insurance, which may be a concern for policyholders who like to conduct all their insurance business with a single company.
Why Geico may be best for discounts: Drivers may save even more with Geico’s extensive list of discounts. Savings may be available for military service, bundling, telematics participation, good students and professional affiliations.
| Bankrate Score | 4.4 |
| J.D. Power | 629/1,000 |
| AM Best Rating | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Progressive made our list: Progressive offers many potential advantages for drivers in Tampa, including potential discounts and unique benefits. Progressive was also named Best Auto Insurance Company for High-Risk Drivers in the 2024 Bankrate Awards. However, Progressive scored slightly below the regional average in the Florida region of J.D. Power’s customer satisfaction study, the lowest of the four providers on our list.
Why Progressive may be best for customized plans: Progressive has a variety of policy customization options, like roadside assistance and windshield coverage. It also offers many discounts and perks, including the popular Name Your Price tool, where you can input your budget to see what coverage options are available to you.
| Bankrate Score | 4.4 |
| J.D. Power | 587/1,000 |
| AM Best Rating | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Allstate made our list: Although Allstate doesn’t tend to have the cheapest average rates out of the companies on our list, it excels in other areas that may appeal to some drivers. For example, Allstate offers a robust telematics program, Drivewise, which may reward good driving habits with lower rates, travel rewards, gift cards, sweepstakes and other perks.
Why Allstate may be the best for policy management: For drivers looking for convenience, Allstate offers a highly-rated mobile app where drivers can manage their car insurance policy, file claims, update coverage, and check the status of claims.
| Bankrate Score | 3.9 |
| J.D. Power | 643/1,000 |
| AM Best Rating | A+ |
Bankrate's trusted insurance industry expertise
Read our full methodologyWhen choosing the best cheap auto insurance in Tampa, we looked at rates, coverage options, discounts and third-party ratings, like the 2024 J.D. Power Auto Insurance Study. These factors and more contribute to each insurer’s Bankrate Score, based on a five-point scale. We also conducted an analysis of rates from Quadrant Information Services based on ZIP code data to determine the rates specific to Tampa.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Tampa
Tampa, like many major cities, has a lot of traffic, and drivers often face higher-than-average rates as a result. In fact, rates in Florida have been on the rise. You may be able to mitigate high Tampa insurance rates by driving a sensible car and looking for good driver discounts. The following companies offer some of the most affordable options for Tampa drivers.
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|---|---|---|
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$1,551
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$3,528
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$1,327
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$3,697
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$1,194
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$4,014
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$1,321
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$4,862
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How much is car insurance in Tampa, FL?
Drivers in Tampa pay an average of $4,336 per year for full coverage. Meanwhile, minimum coverage averages $1,396 per year. Average Tampa full coverage car insurance rates are 82 percent more than the national average and 21 percent more than the Florida state average.
Tampa rates for teens
Given their lack of driving experience and tendency to make driving mistakes, teenage drivers are seen as risky to insure by most companies. The result is higher premiums for teens who drive. The average cost of full coverage car insurance for a 16-year-old on their parents’ insurance in Tampa is $8,727 per year; the average cost for an 18-year-old driver on a standalone policy is $10,960 per year.
The following rates represent the average cost to cover a teen who is still on a parent’s policy.
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|---|---|---|
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$2,216
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$1,960
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$2,415
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$2,141
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$2,457
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$2,016
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$2,855
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$2,287
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|---|---|---|
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$5,984
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$5,185
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$7,174
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$6,556
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$7,405
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$6,136
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$7,428
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$6,213
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Tampa rates for young drivers
Even after they exit their teen years, young drivers can still have higher premiums until they reach about 25 years old with most carriers. On average, a 20-year-old driver on a standalone full coverage policy pays $8,398 per year in Tampa, while a 25-year-old driver pays an average of $5,220 per year for the same coverage.
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|---|---|---|
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$2,132
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$1,435
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$2,501
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$1,786
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$2,685
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$1,555
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$3,155
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$1,503
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|---|---|---|
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$5,995
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$4,033
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$6,955
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$4,497
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$7,264
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$4,291
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$10,812
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$5,700
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Tampa rates for adults
Adults in their 30s, 40s and 50s with a good driving record often enjoy the most reasonable car insurance rates. On average, a 30-year-old driver in Tampa pays $4,485 per year for full coverage auto insurance, while a 50-year-old driver pays $4,058 per year, on average.
Keep in mind, some factors can still drive up your rates. This includes driving expensive vehicles or getting speeding tickets.
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|---|---|---|---|
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$1,281
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$1,194
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$1,124
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$1,323
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$1,321
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$1,262
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|
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$1,354
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$1,327
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$1,273
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|
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$1,645
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$1,551
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$1,365
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|---|---|---|---|
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$3,660
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$3,528
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$3,084
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|
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$3,772
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$3,697
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$3,556
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$3,943
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$4,014
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$3,534
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|
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$4,865
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$4,862
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$4,661
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Tampa rates for senior drivers
After the age of 60, rates begin to rise again for drivers with some insurance companies. Our research shows that on average, Tampa drivers pay around $3,896 per year for full coverage at age 60 and $4,197 per year at age 70.
If you are driving less, you may want to consider lowering your costs by reducing your coverage and avoiding high-traffic areas during rush hour.
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|---|---|---|
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$1,060
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$1,070
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$1,214
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$1,286
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$1,229
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$1,256
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$1,310
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$1,386
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|---|---|---|
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$1,310
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$3,148
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$1,060
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$3,345
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|
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$1,229
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$3,525
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|
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$1,214
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$4,700
|
The cheapest car insurance in Tampa by driving record
Your driving record will inform your premium rates. If you get even a single speeding ticket or are involved in an accident, it’s likely that your insurance costs will go up the next time your insurance company pulls your driving record. This typically happens when your policy renews.
Car insurance with a speeding ticket in Tampa
Speeding increases your chances of getting into a serious accident, and most insurance companies penalize this behavior with higher premiums. If you have a speeding ticket on your record, it’s a good time to compare quotes again. On average, Tampa drivers with a single speeding ticket pay $5,031 per year for full coverage insurance, compared to $4,336 prior to their conviction. This means that drivers with a single speeding ticket conviction typically pay 16 percent more for full coverage.
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|---|---|---|
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$1,321
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$4,862
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$1,616
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$5,425
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$1,676
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$4,296
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$1,977
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$4,665
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Car insurance after an accident in Tampa
Any time you file a claim after an accident, insurance companies are likely to increase your annual rate. Florida is a no-fault accident state, so you’re required to carry insurance that covers your own expenses, regardless of who caused the event. On average, Tampa drivers with a single at-fault accident on their driving record pay 34 percent more percent more for full coverage than drivers with clean records.
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|---|---|---|
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$1,567
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$4,966
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$2,028
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$4,975
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$2,101
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$6,888
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|
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$2,290
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$5,342
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Car insurance after a DUI in Tampa
Driving under the influence is one of the most serious driving infractions you can have on your driving record. In fact, some insurers may refuse to cover a driver after they’ve been convicted of a DUI. A DUI can influence your premium rates for several years. After a single DUI conviction in Florida, Tampa drivers pay average annual rates of $6,597 for full coverage and $2,388 for state minimum coverage.
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|---|---|---|
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$1,705
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$6,191
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$1,769
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$3,980
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$1,874
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$5,864
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$2,439
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$5,754
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Minimum coverage requirements in Tampa
Florida drivers must carry both Personal Injury Protection (PIP) and Property Damage Liability (PDL) on their vehicles. PIP is used to cover necessary and reasonable medical expenses up to $10,000 after a covered accident. Meanwhile, PDL coverage is used to pay for damage to another person’s property.
To register your vehicle in Tampa, you need to have a minimum of:
- $10,000 in PIP
- $10,000 in PDL
Bodily injury liability is not required in Florida but drivers do have to prove their ability to pay for damages under the “financial responsibility law.” If a driver does purchase car insurance to satisfy the law, the minimum requirements are:
- $10,000 bodily injury liability per person
- $20,000 bodily injury liability per accident
It may be advisable to have additional coverage, especially if you don’t have the cash on hand to pay for a lot of out-of-pocket expenses after a car accident.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze October 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability 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 base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Bankrate Score
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.