See Florida’s new and used car insurance cost, how your car’s value and credit score affect your rate, and where you can cut costs without leaving yourself in potential trouble.
Curious about car financing? See real Florida car loan rates shared by our community.
Florida’s PIP and PDL $10,000 Minimums
Florida requires two types of coverage to register a vehicle:
Personal Injury Protection (PIP): $10,000 minimum. This covers 80% of your medical expenses and 60% of lost wages after an accident, regardless of who caused it. Your own policy pays first — that’s what “no-fault” means.
Property Damage Liability (PDL): $10,000 minimum. This pays for damage you cause to someone else’s property; their car, fence, mailbox, or building.
Florida does not require coverage for injuries you cause to other people. Only one other state (NH) skips this requirement. If you injure someone in an accident and don’t carry this coverage, you’re personally responsible for their medical bills, lost income, and any lawsuit they file against you.
MFP Tip: The $10,000 property damage minimum rarely covers real world damage. A fender bender with a newer vehicle can easily exceed this amount, leaving you to pay the difference out of pocket.
Florida New Car Insurance Cost
Your new car monthly premium depends on three main factors: the value of your car, how much coverage you carry, and your credit score. The table below shows estimated monthly costs across different scenarios.
| Car Value | Coverage | 750+ (Excellent) |
700–749 (Good) |
650–699 (Fair) |
600–649 (Below Fair) |
|---|---|---|---|---|---|
| Under $30K | Full | $280 | $348 | $396 | $744 |
| Standard | $203 | $253 | $287 | $540 | |
| Liability only | $134 | $167 | $190 | $357 | |
| $30K–$60K | Full | $331 | $411 | $467 | $879 |
| Standard | $241 | $300 | $340 | $640 | |
| Liability only | $147 | $182 | $207 | $389 | |
| Over $60K | Full | $408 | $507 | $576 | $1083 |
| Standard | $293 | $365 | $414 | $778 | |
| Liability only | $159 | $198 | $224 | $422 |
Florida Used Car Insurance Cost
Your used car monthly premium depends on three main factors: the value of your car, how much coverage you carry, and your credit score.
| Car Value | Coverage | 750+ (Excellent) |
700–749 (Good) |
650–699 (Fair) |
600–649 (Below Fair) |
|---|---|---|---|---|---|
| Under $15K | Full | $163 | $203 | $230 | $432 |
| Standard | $137 | $170 | $193 | $363 | |
| Liability only | $93 | $116 | $131 | $247 | |
| $15K–$25K | Full | $195 | $243 | $276 | $519 |
| Standard | $163 | $203 | $230 | $432 | |
| Liability only | $108 | $134 | $152 | $286 | |
| $25K–$40K | Full | $221 | $275 | $313 | $588 |
| Standard | $185 | $230 | $261 | $491 | |
| Liability only | $116 | $144 | $164 | $308 | |
| Over $40K | Full | $254 | $316 | $359 | $674 |
| Standard | $211 | $262 | $298 | $560 | |
| Liability only | $128 | $160 | $181 | $341 |
Understanding Coverage Levels
Full Coverage: Pays to repair or replace your car (collision and comprehensive) plus covers damage and injuries you cause to others, with higher limits (typically $100,000 per person / $300,000 per accident for injuries, $100,000 for property). Best for newer cars, financed vehicles, or anyone who couldn’t afford to replace their car out of pocket.
Standard Coverage: Same protections as full coverage but with lower limits and higher out-of-pocket costs when you file a claim. A middle-ground option that balances protection and cost.
Liability Only: Covers damage and injuries you cause to others, but nothing for your own vehicle. Makes sense for older cars where the yearly premium would exceed the car’s value over a few years.
Credit Scores Can Double Your Florida Premium
In Florida, insurers use your credit history to set premiums. Two drivers with identical cars and driving records can pay vastly different amounts based on credit alone.
Drivers with excellent credit (750+) pay the lowest rates across every coverage level and car value. Those with fair credit (650-699) typically pay 15-20% more. Drivers with below-fair credit (under 650) often pay 50-65% more than someone with excellent credit for the exact same policy.
This credit penalty compounds with other factors. A driver with poor credit insuring an expensive car with full coverage faces premiums that can be double or triple what a high-credit driver pays for the same vehicle.
MFP Tip: Before shopping for car insurance, check your credit report for errors. Disputing inaccuracies and improving your score — even by 50 points — can lower your premium more than most discounts.
New Car vs. Used Car: Coverage Decisions in a High-Cost State
New Cars
If you finance or lease a new car, your lender requires full coverage until you pay off the loan. You don’t have a choice here.
Even if you buy outright, full coverage makes sense for new vehicles. A totaled $40,000 car with only liability coverage means you absorb the entire loss.
Gap insurance is worth adding for new cars. If your car is totaled, standard insurance pays the current market value — which drops the moment you drive off the lot. Gap insurance pays the difference between what you owe on your loan and what the insurer pays out. Most lenders offer this at purchase, but standalone policies from insurers often cost less.
Used Cars
The decision gets more nuanced with used vehicles. The key question: does paying for collision and comprehensive coverage make financial sense given your car’s value?
Here’s a simple test. Look up your car’s current market value (check Kelley Blue Book or similar). Multiply by 10%. If your annual collision and comprehensive premium exceeds that number, liability-only coverage may be the better bet.
Example: Your car is worth $8,000. Ten percent is $800. If your collision and comprehensive costs $900/year, you’re paying more than 10% of the car’s value just to insure against total loss. At that ratio, you’d break even in less than nine years of premium payments — and cars depreciate faster than that.
MFP Tip: Reassess your coverage each year. A car worth $20,000 three years ago may only be worth $12,000 today. The coverage that made sense at purchase might not make sense now.
No Bodily Injury Requirement? Here’s Why That’s a Problem
The $10,000 minimums look affordable on paper. In practice, they create gaps that can wreck your finances.
When You Damage Someone’s Property
Average vehicle repair costs after a collision exceed $4,000 for minor damage. A moderate accident with a newer SUV or truck can hit $15,000-$25,000. Your $10,000 PDL limit covers part of that. You owe the rest.
If You Injure Someone
Florida doesn’t require coverage for injuries you cause, but injuries don’t care about state minimums. If you cause an accident that hurts someone, they can sue you directly. Medical bills, lost wages, and pain and suffering claims regularly reach six figures. Without coverage, your personal assets — savings, home equity, future wages — are on the table.
1 in 5 Florida Drivers Has No Insurance
About 20% of Florida drivers carry no insurance at all. If one of them hits you, your PIP covers some medical costs, but nothing for your car damage or injuries beyond PIP limits. Uninsured motorist coverage fills this gap. It’s optional in Florida but worth serious thought given the odds.
MFP Tip: Uninsured motorist coverage typically adds $50-100 per year to your premium. Given that 1 in 5 Florida drivers has no insurance, it’s some of the cheapest protection you can buy.
Hurricanes, No-Fault, and I-95: What Shapes Florida Rates
Your Policy Pays First, Even When It’s Not Your Fault
Florida’s no-fault system means your own PIP coverage pays your medical bills first, regardless of who caused the accident. This reduces lawsuits for minor injuries but also means you’re dipping into your own coverage even when someone else hits you.
Hurricane and Flood Risk
Comprehensive coverage pays for weather damage — falling trees, hail, flooding. In Florida, this matters more than most states. A hurricane can total a car parked in your own driveway. If you live in a flood-prone area, check whether your policy covers flood damage or requires an add-on.
Where You Live
Rates vary by ZIP code based on local accident rates, traffic density, and theft. Drivers in Miami-Dade, Broward, and Hillsborough counties typically pay more than drivers in rural areas — sometimes 20-30% more for identical coverage.
How to Cut Costs in Florida’s Expensive Insurance Market
Bundle home and auto. Most insurers offer 10-25% discounts when you carry multiple policies. If you rent, renters insurance bundled with auto often qualifies for the same discount.
Take a defensive driving course. Florida-approved courses can reduce your premium by up to 10%. The course takes a few hours and the discount typically lasts three years.
Ask about safe-driver tracking programs. Some insurers offer apps or devices that monitor your driving habits. Safe drivers can earn discounts of 10-30%. If you don’t drive much or avoid hard braking, this can pay off.
Compare quotes from multiple carriers. Florida’s insurance market is competitive, with dozens of insurers. Rates for identical coverage can vary by hundreds of dollars per year between companies. Get at least three quotes before deciding.
Raise your deductible. Moving from a $500 to a $1,000 deductible (the amount you pay out of pocket before insurance kicks in) typically lowers your premium by 15-20%. Just make sure you can cover the higher amount if you need to file a claim.
Just Bought a Car in Florida? Here’s Your Checklist
Get Insurance Before You Drive
Florida has no grace period for new vehicle purchases. You need proof of insurance before driving off the lot. If you’re buying from a dealer, they won’t release the car without it. If you’re buying private-party, you’re uninsured the moment you take the keys without a policy in place.
Call your insurer before finalizing the purchase. Most can add a vehicle to your policy within minutes and email proof of insurance immediately.
Register and Title Your Vehicle
Within 30 days of purchase, visit your local tax collector’s office to register and title the car. Bring:
- Proof of Florida insurance.
- The signed title (or dealer paperwork).
- A valid ID.
- Payment for taxes and fees.
Review Coverage Annually
Your car loses value every year. The full coverage that made sense for a new $35,000 car may not make sense when that car is worth $18,000 five years later. Check your coverage at each renewal and adjust based on your car’s current value.
End Note
Florida’s minimum requirements keep you legal but leave you exposed. Base your coverage decisions on your car’s actual value, your ability to absorb a loss, and the real costs of accidents — not just state minimums.
Use the rate tables above to estimate what you’ll pay, then shop around. A few hours comparing quotes can save you hundreds per year without sacrificing the protection you need.