Tampa, FL Car Insurance
How much does car insurance cost in Tampa?
Car insurance in Tampa costs an average of $1,827 for a six-month policy or $304 per month on average. In 2024, our data shows Travelers is the cheapest car insurance company in Tampa with rates at $1,213 for a six-month policy.
Tampa residents face higher car insurance costs compared to the state average in Florida ($1,458 every six months) and exceed the national average of $880. According to our customers, 44% of them are paying too much for car insurance. If this describes your situation or you require assistance regarding your car insurance, continue reading to gain insights into determining a reasonable premium in Tampa, considering prevalent aspects such as credit score, coverage level, and more.
| Car Insurance in Tampa vs. Florida | Avg. 6 Mo. Premium |
|---|---|
| Florida Average | $1,458 |
| Tampa Average | $1,827 |
The cheapest car insurance companies in Tampa
Travelers is the cheapest at $202 per month or $1,213 for a six-month policy.
In second place is State Farm, which costs $238 per month ($1,430 for six months).
Rounding out the list is GEICO as the third-cheapest insurance company. On average, a GEICO policy in Tampa costs $1,622 per six-month policy or $270 per month.
The Zebra's key takeaways about car insurance in Tampa:
- The average cost of a car insurance policy in Tampa is $1,827 per six-month policy — $305 per month.
- The cheapest company in Tampa is Travelers ($202/month).
- 44% of Zebra customers in Tampa stated they used our product because they were paying too much for car insurance.
Are you paying too much for auto insurance?
Tampa car insurance rates by company
According to our 2024 data, Travelers emerges as the most affordable provider of comprehensive car insurance in Tampa. The average monthly rate stands at $202 or $1,213 for a six-month policy. State Farm secures the position of the second most cost-effective option, with a monthly premium of $238 or $1,430 for a six-month policy. Expand your knowledge about top-rated car insurance companies based on The Zebra's Customer Satisfaction Survey.
Cheapest car insurance companies in Tampa, FL
The Zebra’s Dynamic Insurance Rating Tool data methodology
The Zebra’s Dynamic Insurance Rating Tool for home and auto insurance rates utilizes the latest ZIP code-level rate filings from across the U.S., sourced from Quadrant Information Services and S&P Global. These filings, typically updated annually or biennially by insurers, are verified through Quadrant’s QA process and then integrated into The Zebra’s estimator.
The displayed rates are based on a dynamic home and auto profile designed to reflect the content of the page. This profile is tailored to match specific factors such as age, location, and coverage level, which are adjusted based on the page content to show how these variables can impact premiums.
For a comprehensive understanding, see our detailed methodology.
Shop around for the best rates
To determine the most affordable car insurance coverage for your needs, a comparison is imperative. Our comprehensive analysis will handle the groundwork on your behalf. Simply input your ZIP code, and witness a range of rates from Travelers, State Farm, GEICO, and Mercury (alongside other prominent insurers) in order to discover the optimal and most economical car insurance in Tampa.
Average car insurance in Tampa by rating factor
In the realm of insurance, a comprehensive evaluation of multiple rating factors takes place for every prospective policyholder. These rating factors encompass various particulars regarding your profile, ultimately influencing the level of risk you present to the insurance provider and subsequently defining what can be considered an equitable premium.
Widely recognized rating factors involve age, geographical location, credit score, and driving record. Since certain aspects of these factors may evolve over time, the most suitable insurance company for you could also undergo alterations. Regularly obtaining quotes will shed light on whether you are still securing the most favorable rates in Tampa.
Q: I didn't have an accident — Why is my insurance going up?
A: The assessment of year-end profits (comparing the revenue generated from premiums against the expenditure of settling insureds' claims) serves as a pivotal rating factor influencing the cost of your car insurance in Tampa. Even if you haven't filed any claims with your insurance provider, it is plausible that you might incur higher expenses due to the escalation of business costs in Tampa.
Auto insurance premiums by age in Tampa
When it comes to rating policies, insurance companies heavily rely on one of the foremost rating factors: the age of the driver. Within the insurance realm, age typically aligns with the number of years spent behind the wheel. A limited driving experience translates to an increased likelihood of accidents and claims. Consequently, it comes as no shock that teenage drivers face the highest premiums. In Tampa, the disparity in rates between teenage drivers and those in their 20s amounts to a staggering $6,078 per year, representing the most significant variation between any two age groups for a fresh car insurance policy.
Although this figure may appear astonishing, it is crucial to recognize that insurance companies operate within the realm of risk management. By imposing elevated premiums on teenage drivers, they effectively mitigate the financial burden associated with claim settlements. In essence, this approach is not driven by personal factors, but rather by sound business principles.
Cheapest car insurance companies for teen drivers in Tampa, FL
Zebra Tip: The cheapest companies for Tampa drivers between 20-40 are GEICO, Travelers, and State Farm
In Tampa, most drivers fall within the age range of 20-40. On average, individuals in this demographic shell out $2,098 every six months. Opting for one of these companies, these groups can potentially save around 24%.
Auto insurance premiums for minimum coverage in Tampa
The level of coverage you opt for in Tampa will significantly influence your insurance rates. The greater the extent of protection you choose, the higher the premium you'll be charged. Our data indicate that many drivers in Tampa carry only minimum coverage. While this may fulfill the legal requirements in many instances, relying solely on this level of coverage can potentially leave you underinsured.
By opting for a comprehensive coverage package known as "full coverage," you'll have collision coverage and comprehensive coverage, which is often mandatory for individuals with leased or financed vehicles as per lending institutions' requirements. Both of these options entail a deductible, allowing you to choose a higher deductible in exchange for a lower monthly rate.
Supplementary features such as roadside assistance or uninsured motorist coverage can provide an added layer of security for you and your vehicle in Tampa. Incorporating these additional protections into your policy will inevitably result in higher premiums. However, it is worth noting that The Zebra's experts still advocate for their consideration.
Q: Can I lower my car insurance coverage?
A: Possibly — if your vehicle is paid off.
If you're leasing or financing your car, there may be an obligation to maintain a specific level of coverage. However, if you have complete ownership of your vehicle, you might consider if comprehensive or collision coverage is necessary. We recommend consulting reliable sources such as Kelley Blue Book to accurately determine the actual cash value of your car. Typically, if the value falls below $4,000, forgoing collision coverage could be a viable option. Nevertheless, it is crucial to bear in mind that by eliminating collision coverage, you assume the potential responsibility for repair costs in the event of an accident.
Cheapest car insurance companies for minimum coverage in Tampa, FL
47% of our customers in Tampa opt for basic coverage, but this may not be the best option for everyone. Florida, functioning as a no-fault state, has distinct driver requirements compared to many other states. While bodily injury liability coverage is mandatory in most states, it is not a requirement according to Florida's car insurance laws. Instead, they rely on personal injury protection (PIP) to handle injury coverage. Under the no-fault law, your own PIP insurance provides coverage up to the policy limits, irrespective of fault. Unlike most states, Florida residents are not mandated to have bodily injury liability, which typically covers medical expenses for individuals injured in accidents caused by the insured driver. In Florida, PIP coverage is responsible for medical costs. However, drivers still have an obligation to maintain $10,000 in property damage liability.
Learn more about insurance laws in Florida.
Tampa car insurance rates by credit score
In Florida, as in many other states, insurance companies continue to factor in a driver's credit score when evaluating policies. The relationship between credit score and claims frequency has long been acknowledged, leading to its incorporation as a rating factor. Analytical data indicates that individuals with lower credit scores exhibit a higher tendency to file claims, experience coverage gaps, and engage in hazardous driving practices. Consequently, those with poor credit end up paying higher premiums due to the association between creditworthiness and elevated risk.
Surprisingly, Tampa drivers with sub-par credit scores (300-579) endure a whopping 94% increase in premiums compared to those with outstanding credit (800-850). According to our data, 33% of drivers in Tampa have a credit score falling within the average (580-679) range (680-719). In 2024, Travelers emerges as the most cost-effective choice for Tampa drivers with average credit.
Cheapest car insurance companies for bad credit in Tampa, FL
Zebra Tip: If you recently improved your credit score, shop around for car insurance!
In Tampa, our data reveals that drivers with "Fair" credit could save an impressive $1,774 in a year compared to drivers with "Poor" credit when it comes to car insurance premiums. If you've recently cleared a loan or taken steps to enhance your credit, consider checking your preferred credit monitoring software to determine whether these recent endeavors could potentially lead to car insurance savings.
Auto insurance rates with an at-fault accident
At-fault and collision-type accidents are the predominant form of insurance claims. Our 2024 data suggests that at-fault accidents led to an increase in the average Tampa insurance by about $135 per month. Travelers emerges as the most affordable company in Tampa after an at-fault accident.
To maintain affordable auto insurance rates, it is crucial to maintain an untarnished driving history and strive to steer clear of any accidents. Any transgression, be it a citation for exceeding the speed limit, charges for reckless driving, or driving under the influence, will invariably lead to elevated premiums. The duration of the impact on your insurance policy varies between three to five years, contingent upon the gravity of the offense.
Cheapest car insurance companies after an at-fault accident in Tampa, FL
Tampa car insurance rates by violation
The type of a citation affects how much a violation will affect your insurance. Check out the table below to see how different violations differ in how they affect how much you pay.
Car insurance rate increases after violations and citations in Tampa, FL
Why is car insurance in Tampa so expensive?
According to our data, car insurance rates in Tampa are higher than both the state of Florida's average as well as the national average. The city's population density and the high cost of repairs are factors that contribute to the rates. Nevertheless, personal factors such as your driving history or the demographic you fall into can have a significant impact on your premium.
Below is an overview of why car insurance can be expensive in Tampa.
Your car insurance rates can be influenced by the neighborhood in which you reside in Tampa. While factors like your driving history and demographics play a vital role in determining your rates, the area you live in also affects the calculation of premiums. The occurrence of crime, theft, and uninsured motorists can vary across different ZIP codes, making certain parts of the city riskier for insurance companies. If you happen to reside in a high-crime area, it is probable that you will have to pay higher car insurance premiums compared to someone living in a safer neighborhood.
Expensive Tampa ZIP codes: 33614, 33603, 33602, 33607, 33604
Cheap Tampa ZIP codes: 33621, 33616, 33611, 33647, 33629
The damage caused by hurricanes and other similar weather-related damage has been known to put insurance companies out of business. Florida carries an outsized share of those risks, so it’s expensive for auto insurance companies in Tampa to do business. Because of this, they will raise their rates to anticipate further weather-related losses.
The Tampa metro area ranked as #3 and #7 for storm surge and hurricane wind risk, respectively, in 2021.[1] Being so near water leaves Florida vehicles extra susceptible to flood damage. Damage to your car caused by flooding is covered under your comprehensive coverage, so if you have a new or nice vehicle, we definitely recommend considering comprehensive coverage as part of your Tampa car insurance policy (even if your vehicle is paid off).
The Tampa population estimate as of 2022 was almost 400,00, which was an increase of 3.5% from 2020.[2] With more people migrating to the sunny, warm climate of Tampa, this also leads to more care on the road. Naturally, this means an increase in accidents, as well. In Tampa, our data also shows that about 28% of drivers aren't insured. This can add another level of risk on the road for you, as you can end up footing the bill yourself if you're involved in an accident with someone who is uninsured.
Zebra Tip: Comprehensive coverage and uninsured property damage coverage are good to have in Florida
Incidents stemming from weather conditions, animals, and acts of vandalism fall under the purview of comprehensive coverage. If you happen to possess a new or well-maintained vehicle, it is highly advisable to include comprehensive coverage as an integral part of your Tampa car insurance policy.
Moreover, in areas or ZIP codes afflicted by a significant prevalence of uninsured drivers, we strongly urge you to secure uninsured motorist coverage (also referred to as UMPD). This particular coverage proves invaluable in the event that you or your vehicle suffer damages caused by an underinsured or uninsured driver. Not only does it boast a lower deductible compared to collision coverage, but the subsequent increase in rates following a UMPD claim is often markedly more affordable than that associated with a collision claim.
Bundling insurance policies in Tampa
The escalating cost of car insurance is a concern nationwide, posing a formidable challenge for motorists in Tampa, where the average rates already sit at a lofty level. Nonetheless, there exists an array of avenues to explore in order to achieve savings. Among the frequently encountered discounts proffered by insurance providers lies the multi-policy discount, also known as the "bundling" discount. By consolidating your auto and home or renters insurance under a single insurance carrier, you become eligible for this enticing discount. Certain companies extend savings of up to 10% on combined premiums. Delve deeper into the realm of bundled home and car insurance to unravel additional insights.
Should you presently maintain distinct policies for your abode and vehicle, it would undoubtedly prove advantageous to engage in an exploration of potential avenues for consolidating the two. The prospect of amalgamating these policies may yield substantial financial benefits. A diligent search for optimal options is likely to bear fruit.
Cheapest car insurance companies for bundling home and auto insurance in Tampa, FL
Despite certain factors falling beyond your sphere of influence, motorists possess the capacity to enhance their profiles and render them more enticing to insurers. Our utmost counsel revolves around the importance of engaging in a comprehensive exploration and scrutinization of auto insurance quotes from a myriad of companies, thereby guaranteeing the acquisition of an affordable rate that preserves both coverage and service excellence. This is particularly crucial in instances where personal circumstances have undergone alterations, such as relocation, the celebration of a birthday, or an improvement in creditworthiness. Despite concerted efforts, certain companies inherently bear a higher cost burden than others; do not hesitate to contemplate switching providers.
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Frequently asked questions
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.