Car insurance rates are up, What are the cheapest options for young drivers in Florida?

Lianna Norman, Palm Beach Post
·3 min read
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On average, Floridians pay the second highest annual price for car insurance in the nation. The average cost of car insurance in Florida is $4,236 each year – a price that is more than double the national average cost of car insurance.

According to USA TODAY’s guide on the cheapest car insurance in Florida, Floridians with a poor driving record (at-fault accidents, speeding tickets and DUIs) spend around $6,135 each year on car insurance.

But drivers with poor driving records aren’t the only ones that can expect to pay more. Young drivers – under the age of 25 – pay some of the highest prices for car insurance, according to MarketWatch and BankRate.

Here’s a breakdown of the best and cheapest car insurance options for young drivers in Palm Beach County, found using the USA TODAY cheapest car insurance in Florida search tool.

At what age is car insurance most expensive?

Since young drivers have the least amount of experience on the road, they’re the riskiest drivers to insure, according to BankRate’s 2023 auto insurance costs by age breakdown.

“Per miles driven, drivers aged 16 to 19 get into almost three times as many fatal car accidents as any other age group,” BankRate’s website says. “Insurers frequently charge more to insure teen drivers to offset the higher costs associated with teen driving claims.”

USA TODAY car insurance guide: Cheapest car insurance options for Floridians, August 2023

Who has the cheapest insurance rates for young drivers in Palm Beach County?

According to USA TODAY’s report on car insurance in Florida, there are four insurance companies that offer average good driver rates below $4,000 a year.

Here’s the list:

  • Geico: The average price for good drivers is $2,771. The average price for high-risk drivers is $4,018.

  • Mercury: The average price for good drivers is $3,488. The average price for high-risk drivers is $5,749.

  • Travelers: The average price for good drivers is $3,615. The average price for high-risk drivers is $6,168.

  • State Farm: The average price for good drivers is $3,902. The average price for high-risk drivers is $6,449.

If you use the USA TODAY car insurance search tool and select the 18 to 20 year-old age group and enter a Palm Beach County ZIP code, the suggestions are a bit different. For example, tghe search results in a list of the best car insurance quotes companies available to young drivers in Palm Beach County. There’s a longer list for 21 to 24-year-old drivers. If you use the tool, you can search by where you live.

Best car insurance quotes for 18 to 20-year-old drivers in Palm Beach County:

Best car insurance quotes for 21 to 24-year-old drivers in Palm Beach County:

How much will my car insurance go up if I add my 16-year-old?

If you have a 16-year-old who is about to start driving, adding them to your policy will usually drive up your annual premium by about $3,548.

Geico, State Farm or Progressive offer the best options for adding your teenager to your insurance policy.

Cheapest car insurance for adding a teen driver in Florida

Here are the cheapest car insurance options for adding a teen driver to an existing auto insurance policy in Florida.

  • Geico – Average annual rate: $2,601, Average monthly rate: $217

  • State Farm – Average annual rate: $2,745, Average monthly rate: $229

  • Progressive – Average annual rate: $2,811, Average monthly rate: $234

  • Florida average – Average annual rate: $3,548, Average monthly rate: $296

Lianna Norman covers trending news in Palm Beach County for The Palm Beach Post. You can reach her at lnorman@pbpost.com. You can follow her reporting on social media @LiannaNorman on X.

This article originally appeared on Palm Beach Post: Who has the cheapest car insurance rates for young drivers in Florida?