Auto Insurance Companies Pulling Out of Florida
Auto insurance companies, including AAA and Farmers, are pulling out of Florida. Car insurance companies are leaving Florida to avoid the increased risk of expensive claims caused by natural disasters. This has also led to an increase in Florida auto insurance rates by $150 each year.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
UPDATED: Mar 20, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Mar 20, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Several car insurance companies no longer sell insurance in Florida
- Reasons for pulling out of Florida include increased storm damage
- Florida insurance rates have increased by $150 over the last few years
Called the Florida insurance crisis, several insurance companies have decided not to sell new policies in the Sunshine State. While some are simply being liquidated, others are major insurance providers like Farmers and AAA.
Insurance companies are leaving Florida for a variety of reasons, including increased weather damage and insurance scams. Below, you’ll find more information about why Florida is losing insurance companies. Once you’ve explored why companies are leaving, you can use our free comparison tool above by entering your ZIP code to find the best Florida auto insurance rates.
List of Auto Insurance Companies Pulling Out of Florida
With the pressures of climate change, increased traffic, and local laws, many Florida car insurance companies are leaving the state. Currently, these Florida auto insurance companies have left the Sunshine State:
- Farmers Insurance
- Bankers Insurance Group
- Lexington Insurance Company
- Centauri Insurance
- AAA
If you’re currently a customer of any of these companies, you probably don’t have to worry about your coverage. While your auto insurance company can drop you after a claim or if you receive too many traffic violations, most providers are committed to maintaining existing policies.
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Top Reasons Why Insurance Companies are Leaving Florida
Why are insurance companies leaving Florida? With weather patterns seeming to get more intense, the answer might seem obvious. However, the answer is more complex than climate change.
- Climate change: Hurricanes and other weather phenomena are increasing in strength and frequency in Florida. Since car insurance does cover storm damage, the price of insurance is rising due to weather-related claims.
- Increased traffic: Florida roads are more congested than ever. More drivers on the road increase the chances of accidents, which leads to more claims.
- Local laws: A large part of the Florida insurance crisis is explained through state law. It’s much easier to sue companies in Florida, which has directly led to some insurance companies leaving Florida.
- Property scams: Florida has seen a dramatic increase in the number of home insurance scams, which cost companies millions.
The problem isn’t just insurance companies out of state that are affecting Florida drivers. Average Florida auto insurance quotes have increased over the last few years, as you can see below.
Finding the cheapest auto insurance companies in Florida is more difficult than ever before, but it’s not impossible. Shopping around and comparing quotes is the easiest way to find the cheapest auto insurance in Florida.
Comparing Florida Auto Insurance Rates
While many factors affect insurance rates, one of the most important is your ZIP code. Florida car insurance coverage rates vary significantly between cities because of differences in traffic, crime, and overall claims.
Check below to see average rates for minimum and full coverage in your city.
| City | Minimum Coverage | Full Coverage |
|---|---|---|
| Fort Lauderdale | $90 | $180 |
| Jacksonville | $85 | $170 |
| Miami | $95 | $190 |
| Orlando | $80 | $160 |
| St. Petersburg | $88 | $176 |
| Tampa | $82 | $164 |
| Tallahassee | $87 | $174 |
As you can see, purchasing Florida minimum auto insurance requirements is your cheapest option for coverage. However, the bare minimum Florida insurance requirements leave your car without much protection.
Minimum insurance requirements in Florida are $10,000 worth of coverage of personal injury protection and property damage liability. Most insurance experts suggest purchasing more than this amount to protect yourself in case of an accident.Michelle Robbins Licensed Insurance Agent
Full coverage or comprehensive auto insurance better protects you and your vehicle. If it’s within your budget, full coverage is likely a better choice for your Florida car insurance needs.
How to Find Affordable Florida Auto Insurance Companies
While there are some auto insurance companies pulling out of Florida, you still have plenty of affordable options. Check the average rates from some of Florida’s largest car insurance companies below.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
| Allstate | $61 | $183 |
| Auto-Owners | $33 | $87 |
| Geico | $30 | $89 |
| Liberty Mutual | $54 | $161 |
| Progressive | $51 | $153 |
| State Farm | $33 | $99 |
| Travelers | $56 | $166 |
| USAA | $16 | $47 |
Once again, minimum insurance is your cheapest option. Most companies offer several types of auto insurance coverage so you can customize your policy, but adding more insurance will increase your rates.
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How to Switch Florida Auto Insurance
Switching Florida auto insurance is usually simple and can even help you save.
First, you’ll need to learn how to cancel your auto insurance. Most companies don’t have an online option for how to cancel car insurance in Florida, so you’ll probably need to call.
Before you go through with canceling your policy, you should purchase a new policy. Having even a small gap in your insurance coverage can increase your rates, so most experts recommend setting up new coverage first. Find your most affordable insurance options by entering your ZIP code into our free comparison tool today.
Once your new policy is set up, you can cancel your old coverage without worry.
Other Ways to Save on Florida Auto Insurance
Rates are increasing in Florida, but it’s not impossible to save on your insurance. Try the following money-saving methods if you’re looking to save:
- Find discounts: There are plenty of Florida auto insurance discounts to help you save. Popular options include safe driver and policy bundling discounts.
- Keep your record clean: Keeping car insurance claims and traffic violations off your record can help you save. However, you should know how to file an auto insurance claim if you need to.
- Lower your coverage: While it’ll put your car at a higher risk, you can save on your monthly premium by lowering your coverage.
- Raise your deductible: Your deductible is the portion you pay when you file a claim. Choosing a higher deductible will help you save, but you’ll have to pay more if you file a claim.
Of course, you should also compare quotes before you sign up for a policy. Comparing auto insurance quotes with multiple companies is the only way to ensure you don’t overpay for coverage.
Bottom Line on Auto Insurance Companies Pulling Out of Florida
Although companies like Farmers and AAA have pulled out of Florida, it’s not all doom and gloom. There are plenty of affordable insurance options left in the Sunshine State.
While steps like finding discounts and choosing the right coverage are important in finding low rates, the most crucial step is comparing quotes. Use our free comparison tool below by entering your ZIP code to start looking at quotes today.
Frequently Asked Questions
What states are insurance companies pulling out of?
When it comes to insurance companies pulling out of states, Florida and California are the top places. Weather phenomena like hurricanes and wildfires are a primary force behind the California and Florida insurance crises.
Why are auto insurance companies leaving Florida?
There are several reasons why insurance companies are leaving Florida, including stronger weather, insurance scams, and increased traffic.
How many insurance companies have left Florida?
Today, at least five car insurance companies have left the Sunshine State. On top of those, 11 home insurance companies have left.
What insurance companies are being pulled out of Florida?
Currently, AAA, Farmers, Bankers Insurance Group, Centauri Insurance, and Lexington Insurance Company are the providers leaving Florida.
Is Progressive pulling out of Florida?
Progressive currently has no plans to halt its sale of car insurance policies in Florida.
Is AAA pulling out of Florida?
AAA is currently denying renewal requests on some of its policies in Florida. However, it still sells some new policies in the Sunshine State.
Who is the largest auto insurer in Florida?
Geico is the largest auto insurance provider in Florida, claiming about 25% of the total market.
Who has the best auto insurance rates in Florida?
The best auto insurance rates in Florida typically come from Geico, USAA, and Progressive. However, the best rates for you depend on your unique circumstances. Enter your ZIP code into our free tool to see how much you might pay.
How much does the average person pay for auto insurance in Florida?
In Florida, minimum insurance costs an average of $109 per month. Full coverage, which includes car insurance that covers leaks, animal contact, theft, and vandalism, costs an average of $329 per month.
Why is Florida auto insurance so expensive?
Car insurance rates are impacted by several factors. These include increased weather damage and insurance scams. Additionally, car accident claims in Florida are on the rise due to the increased driver population.
Which insurance company has the highest customer satisfaction in Florida?
The company with the best customer satisfaction ratings in Florida is Allstate. Allstate consistently ranks well in terms of customer satisfaction, liability and comprehensive auto insurance claims, and financial stability.
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Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
