Auto insurance is typically at the top of a lot of people’s must-do list, and frequently the biggest expense in their budget. As you’ll see below, though, a few policies can be done very cheaply indeed, even if your coverage area is small.
Cheapest Auto Insurance Companies In Florida
After all, insurers make plenty of money from low-risk drivers. But for drivers who enjoy a good driving record, the savings can be substantial—and it’s never a waste of money to pursue them.
We compiled this list of the top five cheapest auto insurance companies in Florida. While there’s no guarantee they’ll be the cheapest one for you, an in-depth analysis will help you to get the best policy for you and your family.
Before you look at any other company, and before you look for discounts, a little research is always a good idea. Some benefits that insurance companies throw at you are obvious—like fewer claims, and cheaper deductibles and fees—but if you’re not looking for them, you might miss them.
You may also not know that certain auto insurance companies, like AutoZon, have come under fire for recruiting young drivers who have not yet gone through the real driver’s test.
Another thing you should know: Those relatively rare times when you have to file a claim will most likely come with a charge for attorney’s fees. If you get in a accident and you’re understandably shaken, it’s definitely worth considering whether you’d rather pay a little bit extra each month for more protection.
To do this, you need to know your coverage level. There are lots of options on this site, and a quick search will let you figure out whether you’re covered for what needs to be covered and how much it will cost.
The results should be consistent—your rating should follow a particular pattern. Only insurers with the lowest rates are worth considering.
So, without further ado, here’s a look at the top five cheapest auto insurance companies in Florida:
Best Cheap Auto Insurance In Florida
Florida Citizens Property Insurance
With $1.3 billion in assets and $872 million in revenue in 2017, Florida Citizens Property Insurance is the state’s largest insurer. Considering that Florida is one of the country’s most expensive places to insure a car, Florida Citizens is clearly benefiting from the thicket of state rules—one of the major obstacles to low-cost insurance—that govern the industry.
Basically, that means that if Florida’s commissioners want to raise rates for the big insurers, they just have to give Citizens a reason.
Florida Citizens does not use math like most other insurance companies, so there’s no way to get a full sense of how well it does. But what is clear is that its profits are large: a $47 million increase in premiums last year alone meant that it more than doubled its profit.
Ben Sherman & Associates
CananSure Insurance Services
CananSure Insurance Services, the last company on this list, is actually a subsidiary of State Farm, so you’re getting the free agent model. CananSure does offer homeowners and commercial policies, but it’s a separate company from State Farm—and obviously they’re completely separate markets.
A great thing about CananSure is that it claims not to cap its policies (you cannot buy a contract from CananSure and another company). But if you call up State Farm and ask about your specific coverage and limitations, you’ll find there are limits.
Consumers’ Choice is the only company on this list that actually provides reviews on its website. So it’s fair to say that it’s the most consumer-friendly of the five. What’s even better is that its rates are one of the most competitive in the state: a few years ago, it was the number one auto insurer in Florida, according to the American-Statesman.