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Are you looking for cheap auto insurance in Tampa, FL? At AutoInsuranceEZ.com, you’ll find the cheapest insurance rates where you live. Take a look at all the statistical data we’ve gathered for Tampa drivers – you’ll be surprised by what you learn!

Tampa is the third largest city within the state of Florida. As a coastal city, Tampa has a long history of trade, tourism, and cultural diversity. Currently, there is a boom in both private sector and government business, especially when it comes to international trade and construction.

  • Fun Fact: Did you know that Tampa is #18 on the list of “Top 101 cities with the highest number of police officers in 2006 per 1000 residents (population 50,000+)”? Find out more about Tampa, FL on Wikipedia.

Auto Insurance Coverage Requirements in Florida

Per the Florida Office of Insurance Regulation, the minimum insurance coverage you should have on your car is:

Coverage Requirements Most Common
Bodily Injury Liability Not required 100,000/300,000
Property Damage Liability 10,000 50,000
Uninsured Motorist Bodily Injury Not required 10,000/20,000
Medical Payments Not required 5,000
Collision Not required 500 deductible
Comprehensive Not required 250 deductible

 
If you are still financing your vehicle, your bank lender may require that you add Comprehensive and Collision insurance to your policy. Otherwise, all additional forms of coverage – including Bodily Injury Liability and Uninsured/Underinsured Motorist coverage are optional. Insurance carriers contemplate various factors when figuring out insurance quotes, including gender, occupation, years of driving experience, and current insurance coverage and limits. Also keep in mind that premiums change from carrier to carrier. To make sure you’re still being charged the cheapest rate, compare quotes online.

For those living in Tampa, you can expect to pay around $119/month*, which is lower than the state average monthly premium of $153. But don’t worry, there are ways to get a better deal. For instance, you can shop around for different companies which offer lower rates.

Average Monthly Auto Insurance Premiums Legend: Tampa Allied Amica Liberty Mutual Mercury State Farm 15 30 45 60 75 90 105 120 135 $123 $103 $142 $148 $80

 

Based on our information, it seems that State Farm and Amica beat both the state and the Tampa average. However, there are other important factors at play. Customer service might be better at one company, even though their rates are higher. Another provider might offer more discounts than advertised.

Insurance carriers contemplate various factors when figuring out insurance quotes, including gender, occupation, years of driving experience, and current insurance coverage and limits. Also keep in mind that premiums change from carrier to carrier. To make sure you’re still being charged the cheapest rate, compare auto insurance Florida quotes online.

Major Car Insurance Factors in Tampa

There are many ways that your car insurance rate might be estimated. But not all of it is out of your control; there are actions you can take to be able to control what discounts you are entitled to acquire. The following are some of these elements in greater detail:

  • Your Zip Code

The cheapest car insurance is usually found in cities with a lower population density. Because there are fewer automobiles on the road, there are fewer opportunities for you to get into a major car accident with another driver. The population of Tampa is 352,957 with a median household income of $42,649.

Auto Insurance by Zip Code Legend: Miami Orlando Jacksonville St. Petersburg Tampa 21st Century Allied Allstate Amica Liberty Mutual 15 30 45 60 75 90 105 120 135 150 $112 $62 $67 $81 $80 $120 $70 $61 $89 $103 $125 $122 $104 $145 $148 $161 $68 $68 $90 $102 $138 $71 $75 $77 $78

 

  • Automotive Accidents

If motor vehicle accidents are common on the roads where you drive most frequently, then your insurance provider will offset that risk by charging you higher rates. Unfortunately, fatal accidents were in the rise in 2013, with 53 crashes resulting in 57 fatalities.

Fatal Accidents in St. Petersburg, FL Legend: Tampa Fatal accident count Vehicles involved in fatal crashes Fatal crashes involving drunk persons Fatalities Persons involved in fatal crashes Pedestrians involved in fatal accidents 10 20 30 40 50 60 70 80 90 100 110 120 130 53 86 17 57 135 16

 

  • Auto Thefts in Tampa

Auto theft is a major problem, especially in densely populated cities. If your location and/or vehicle model put you at a greater risk for theft, you may have trouble finding low-cost car insurance. The total number of stolen vehicles in Tampa has steadily declined in recent years, down to 553 vehicle thefts for the year 2013.

Basic vs. Comprehensive Auto Policy Legend: Basic Coverage Comprehensive Coverage 21st Century Allied Allstate Amica Liberty Mutual 30 60 90 120 150 180 210 240 270 300 330 $78 $223 $123 $272 $102 $195 $103 $205 $142 $358

 

  • Your Credit Score

Your credit score is a very significant – yet often overlooked – variable which influences your overall monthly premium. People with good credit are often rewarded with lower rates. For Tampa drivers, the chart below shows that this trend applies to the bay area as well.

Auto Insurance by Credit Score Legend: Excellent Credit Poor Credit 21st Century Allied Allstate Amica Liberty Mutual 30 60 90 120 150 180 210 240 270 300 330 360 $129 $183 $165 $286 $94 $241 $129 $162 $173 $371

 

  • Your Age

Age is another large factor that comes into play when determining insurance rates. As you can see in the chart below, a high school student can end up paying double (or more) what an adult would for insurance each month. Ask your agent about good student discounts and drivers education courses to help lower your young driver’s rates.

Auto Policy Age Comparison Legend: 34 Year Old 17 Year Old 21st Century Allied Allstate Amica Liberty Mutual 50 100 150 200 250 300 350 400 450 500 550 600 650 $78 $293 $123 $522 $102 $616 $103 $539 $142 $673

 

  • Your Driving Record

Low-risk drivers tend to have blemish-free (or nearly perfect) driving records, so insurance companies tend to charge them lower rates each month. If your record is less than perfect, you should ask your insurance agent about “accident forgiveness” discounts to see if you can save money. For more serious violations, however, your rates might go up significantly – or your provider may refuse to cover you all together.

Driving Violations Legend: Perfect Record Minor Speeding Ticket DUI/Reckless Driving Major At-Fault Accident 21st Century Allied Allstate Amica Liberty Mutual 30 60 90 120 150 180 210 240 270 300 $78 $150 $198 $202 $123 $193 $327 $209 $102 $111 $128 $146 $103 $138 $262 $138 $142 $225 Do Not Sell $178

 

  • Your Vehicle

Another factor which helps determine your monthly rate is how much it might cost for your damaged or stolen car to be fixed or replaced. Naturally, more expensive vehicles will require more comprehensive insurance coverage, and also cost more to fix, which results in expensive insurance premiums. Common, affordable vehicles, like the Honda Accord displayed in the chart below, are much more affordable to insure.

Car Insurance by Make/Model Legend: 2015 Honda Accord 2012 Porche Boxster Spyder 21st Century Allied Allstate Amica Liberty Mutual 40 80 120 160 200 240 280 320 360 $78 $231 $123 $211 $102 $177 $103 $226 $142 $389

 

Minor Car Insurance Factors in Tampa

Of course, there are other factors which will alter Tampa insurance rates, as you can see:

  • Your Marital Status

Your marital status could save you money on car insurance, especially if you and your spouse bundle your policies together with the same insurance company. But if two partners choose to insure themselves separately, you could be charged a few dollars more, or a few dollars less per policy based on your marital status. In general, this difference rarely amounts to more than 3% of your monthly premium (without bundling, that is).

  • Your Gender

Gender is similar to marital status in that it matters to some companies, but not others. Again, this fluctuation in price is little more than a few dollars per month. Whether you will be penalized or rewarded for being a member of a certain gender will vary from company to company.

  • Your Driving Distance to Work

For Tampa workers, the average commute time tends to last around 26 minutes, but has a tendency to drop the closer you get to the heart of the city. Around 9.6% of those commuting are carpooling to work, while another 80% drive alone.

Some companies will adjust your rate based on why you drive, or how far you drive each year. Even though your provider might request this information from you, driving a few thousand miles each year for pleasure tends to cost about the same as driving tens of thousands of miles for work, give or take a few percentage points. However, if your automobile is registered as a business vehicle on your insurance policy, you could be looking at 10-15% higher premiums each month.

  • Your Coverage and Deductibles

Purchasing more coverage means that your insurance company will, more than likely, charge you a higher monthly rate. You can help offset this cost and make your comprehensive coverage more affordable by choosing to raise your deductible. However, keep in mind that you will have to pay that money upfront in the event of an accident.

  • Education in Tampa, FL

The less education you have, the more your insurance company will assume that you might be a high-risk driver. For the city of Tampa, most of their drivers have a high school diploma or other equivalent; however, there are more high school drop-outs living in Tampa than there are drivers with a bachelor’s degree. We should also add that neither your income nor your specific job (unless you are involved with the US military) will significantly raise or lower your monthly premium.

Tampa has several institutions for higher education. The main campus for the University of South Florida is located in Tampa, as well as a mix of two- and four-year institutions. Some, like ITT, offer 4-year degrees in engineering, while others such as Hillsborough Community College help working adults hone their expertise.

Finding affordable automobile insurance policy in Tampa can be a hassle. There’s a lot of information you need to consider and figuring out how insurance companies evaluate your potential risk can be complicated. But don’t let the wrong insurance company talk you into purchasing the wrong policy.

How We Conducted Our Car Insurance Analysis

*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.

Sources:

Florida Office of Insurance Regulation

Florida Department of Financial Services

Department of Highway Safety and Motor Vehicles

City-Data.com

Census.gov

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