Cheapest Auto Insurance in Panama City, Florida (2024)

State Farm is the cheapest car insurance company in Panama City, with liability-only rates of $50 per month.

Courtney Washington
Courtney Washington

Courtney Washington is a Texas A&M University graduate. Her extensive knowledge and background in auto, home, and umbrella policies make her a one-stop shop for insurance advice and information. She loves to help her readers understand their insurance choices so they can make informed decisions about their coverage.

Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Updated February 26, 2024 at 11:00 AM PST

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If you live in Panama City, you can expect to pay an average of $190 per month for car insurance. While this means Panama City has some of the more affordable auto insurance rates in Florida, these rates are generally higher than those paid across the country.

Unfortunately, high rates are common in Florida. The state’s unpredictable weather and devastating hurricanes bear some of the blame, but it also has many uninsured and high-risk drivers. Insurance companies seek to spread out this risk by assigning higher rates to all insured drivers.

Here’s how to find cheap car insurance in Panama City, Florida.

Quick Facts
  • State Farm, GEICO, and Hugo offer the lowest rates for liability-only insurance in Panama City.

  • Panama City drivers pay a monthly average of $240 for full coverage and $140 for liability-only coverage.

  • Florida is a no-fault state, meaning drivers file claims through their own insurance companies no matter who caused the accident.

Cheapest car insurance companies in Panama City

The best car insurance policy for you will depend on your driving and household needs. Some companies are more willing to insure drivers with incidents on their driving records.

The best way to find the best policy for you is to compare quotes from several different insurers. Included below are three of the top insurers in the area, as well as their average quotes in Florida for full-coverage and liability-only insurance.

Insurance CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Full CoverageLiability OnlyBest For
State Farm4.5$79$68Affordable rates
GEICO4.2$81$70Coverage after a DUI
Mile Auto3.5$186$133Low-mileage drivers
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Insurify uses an in-house, proprietary method to rate and review the best car insurance companies. The Insurify Quality (IQ) Score uses more than 15 crucial criteria, including average premiums, customer satisfaction, discounts, third-party ratings, and more, to calculate a final score for a company.

    Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings. With the IQ Score, Insurify is able to provide quantitative ratings for drivers to better compare car insurance companies and make informed decisions to meet their coverage needs.

Best insurer for affordable rates: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$50/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$59/mo

The nation’s leading insurer based on the number of policies written, State Farm offers some of the lowest rates in Florida. This means the company should be part of any insurance price comparison you start. State Farm also earns high marks for its customer service and financial stability.

Pros
  • Excellent customer service ratings

  • Easy online experiences

Cons
  • Doesn’t offer gap coverage

  • Can be expensive for drivers with poor credit

I am happy with their coverage. I just bought a new car, and my insurance quadrupled. YIKES.

Stacy - December 4, 2023
Verified

Friendly service.

John - December 4, 2023
Verified

Got insurance established fast.

Robert - December 3, 2023
Verified
Read our State Farm review

Best insurer for coverage after a DUI: GEICO

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.3
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$52/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$60/mo

Some companies refuse to insure drivers after a DUI because they see them as an almost guaranteed financial loss. But GEICO gives drivers a second chance in Panama City, and the company’s rates are generally more competitive than a lot of companies insuring drivers with DUIs.

Pros
  • Will file an SR-22 or FR-44 with the courts on your behalf

  • Offers comparatively lower rates for drivers with and without a DUI

Cons
  • Local agent network can be limited

  • Bundling discount smaller than with some other companies

Everything good except the price.

RAY - December 4, 2023
Verified

I have not had problems; prices just remain high with little to no customer service and little benefit from 26+ years of customer loyalty.

Elizabeth - December 3, 2023
Verified

I had been with them a few years until they started raising my rates every time I was up for renewal. I got a new quote from another company that was $50 less than GEICO for the same coverage. That's not how to show customer loyalty, and it's the reason GEICO lost me as a customer.

Denise - December 3, 2023
Verified
Read our GEICO review

Best insurer for low-mileage drivers: Mile Auto

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.4
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
NR
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$99/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$138/mo

Car insurance in Florida can be expensive, but one way to reduce your cost is to look at an insurer like Mile Auto, especially if you’re a low-mileage driver. Mile Auto charges based on the amount you drive, and this can be an intriguing option for seniors, people who work from home, and others who rarely use their vehicles.

Pros
  • Provides unmatched control over your insurance costs

  • Great for retirees and people who seldom drive

Cons
  • Not accredited by the Better Business Bureau

  • May not be the best choice for people who drive frequently or professionally

How to get the cheapest car insurance in Panama City

Insurance companies look at several factors when deciding car insurance rates, including your home ZIP code, how many miles you drive, your credit history, your age, your driving record, and more.

Some of these considerations are outside your control, but here are some things you can do to reduce your car insurance rates:

  • Compare several quotes at once. Pull quotes from several insurance companies with roughly the same coverage, and compare them directly to see how they stack up against one another.

  • Take advantage of discounts. Insurers offer several different discounts for things like bundling, getting good grades, being a safe driver, and more. Ask your insurer what discounts are available to see what you may qualify for.

  • Maintain a safe driving record. An incident like a speeding ticket, at-fault accident, or DUI can have a dramatic effect on your insurance rates. While accidents can’t always be avoided, you can easily ward against speeding or DUI to protect your insurance rates.

Find Cheap Car Insurance in Panama City, Florida

Liability rates start at $50 per month

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Cheapest liability-only car insurance in Panama City: State Farm

In Florida, liability car insurance pays for the other driver’s car repairs and your medical bills in an accident you cause. However, liability-only coverage won’t pay for any vehicle damage you sustain in the accident. As such, liability insurance is generally the most affordable coverage option, and the average rate for liability-only coverage in Panama City is $140 per month.

Here, you can see a collection of average quotes from top insurers in the area.

The below rates are estimated rates current as of: Monday, February 26 at 11:00 AM PST
Insurance CompanyAverage Monthly Quote
State Farm50
GEICO52
Hugo57
Allstate88
Mile Auto99
Safeco102
Travelers105
Mercury109
Liberty Mutual117
Direct Auto119
Midvale Home & Auto131
Progressive134
Infinity144
Foremost156
Dairyland160
AssuranceAmerica172
Bristol West207
The General236
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest full-coverage car insurance in Panama City: State Farm

Full-coverage car insurance provides the same protections as liability coverage but also covers your damage after an accident. This means full coverage is often more expensive, but the coverage can be worth it if you have an expensive car or a vehicle you would struggle to replace if it were totaled.

The average cost of full coverage in Panama City is $240 per month, and you can see average quotes from top insurers below.

The below rates are estimated rates current as of: Monday, February 26 at 11:00 AM PST
Insurance CompanyAverage Monthly Quote
State Farm59
GEICO60
Hugo64
Allstate102
Travelers124
Mercury129
Mile Auto138
Safeco140
GAINSCO162
Infinity166
Liberty Mutual177
Direct Auto184
Midvale Home & Auto190
Progressive191
National General231
AssuranceAmerica232
Foremost233
Dairyland284
Bristol West296
The General333
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

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Car insurance requirements in Florida

Florida is a no-fault state. This means each driver files a claim through their own insurance company for bodily injuries after an accident, regardless of who’s at fault. For this reason, Florida drivers must carry personal injury protection and property damage liability with certain limits to cover associated damages.[1]

To drive legally in the state of Florida, your coverage must meet or exceed the requirements below:

CoverageMinimum Requirements
Personal injury protection (PIP)$10,000
Property damage liability$10,000

While the coverage limits listed above meet minimum requirements, you may want to enhance your coverage with additional protections, including:

  • illustration card https://a.storyblok.com/f/162273/x/f2ca9fa443/protection-for-passengers.svg

    Bodily injury liability coverage

    While each driver’s PIP coverage goes toward their own medical expenses, the coverage has limitations. Bodily injury liability goes toward the other driver’s expenses that PIP doesn’t cover if you’re at fault for an accident.

  • illustration card https://a.storyblok.com/f/162273/x/abffe6238f/financial-protection.svg

    Additional PIP coverage

    This supplemental coverage acts in addition to your traditional PIP coverage to protect you and your family.

  • illustration card https://a.storyblok.com/f/162273/x/4c9753bdbe/medical-payments.svg

    Medical payments coverage

    This option covers medical expenses in a way that’s similar to health insurance and can supplement your existing coverage.

Cheapest car insurance for drivers with an incident

Insurance companies charge more after driving incidents to hedge their bets against future claims. Driving incidents include accidents, speeding tickets, DUIs, and other moving violations. In the case of a DUI, the company may refuse to cover a driver altogether.

In the sections that follow, you’ll see how each incident type affects the rates you pay in Panama City.

Shop for Car Insurance in Panama City, FL

Monthly rates start at $50 for drivers with an incident

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Cheapest car insurance for drivers with a speeding ticket: State Farm

Speeding tickets can be an indication of how safe a driver you are. Insurers believe the more you speed, the more likely you are to become involved in other risky behaviors.

The average cost of insurance for drivers with a speeding ticket is $224 per month in Panama City.

The below rates are estimated rates current as of: Monday, February 26 at 11:00 AM PST
Insurance CompanyClean Driving RecordWith Speeding Ticket
State Farm5057
GEICO5260
Hugo5773
Allstate88102
Mile Auto99137
Safeco102129
Travelers105124
Mercury109147
Liberty Mutual117147
Direct Auto119145
Progressive134163
Infinity144177
Dairyland160193
AssuranceAmerica172218
Bristol West207245
The General236284
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for drivers with an at-fault accident: State Farm

At-fault accidents can be among the most expensive claims an insurer must pay. And while accidents do happen, your insurer is apt to look at you as being higher-risk — and potentially more expensive — if you have an accident on your record.

The average cost of car insurance with an accident on your record is $241 per month in Panama City.

The below rates are estimated rates current as of: Monday, February 26 at 11:00 AM PST
Insurance CompanyClean Driving RecordWith Accident
State Farm5062
GEICO5265
Hugo5771
Allstate88110
Mile Auto99147
Safeco102141
Travelers105133
Mercury109157
Liberty Mutual117158
Direct Auto119156
Progressive134175
Infinity144178
Dairyland160204
AssuranceAmerica172229
Bristol West207258
The General236306
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for drivers with a DUI: State Farm

A DUI is a dealbreaker for many insurance companies. Not only are they life-threatening for everyone the impaired driver encounters, but they’re also expensive for both the driver committing the DUI and the company insuring the driver.

Many insurance companies will drop drivers after their first offense, but GEICO, Farmers, and Travelers will insure a Florida driver, giving them a second chance. The average rate for car insurance for drivers with a DUI in Panama City is $279 per month.

The below rates are estimated rates current as of: Monday, February 26 at 11:00 AM PST
Insurance CompanyClean Driving RecordWith DUI
State Farm5076
GEICO5279
Hugo5782
Allstate88133
Mile Auto99150
Safeco102154
Travelers105159
Mercury109167
Liberty Mutual117177
Direct Auto119161
Progressive134202
Infinity144217
Foremost156236
Dairyland160242
AssuranceAmerica172260
Bristol West207313
The General236356
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for seniors: State Farm

Drivers generally enjoy the lowest insurance premiums during their middle-aged years. However, as eyesight weakens and reflexes slow, premiums climb again. This commonly happens around age 70.

If you’re a senior in Panama City, you can expect to pay around $158 per month on average for car insurance. Here, you can see how that stacks up against quotes that top insurers offer.

The below rates are estimated rates current as of: Monday, February 26 at 11:00 AM PST
Insurance CompanyLiability OnlyFull Coverage
State Farm3946
GEICO4248
Allstate7283
Mile Auto78109
Travelers8399
Safeco87120
Mercury90106
Direct Auto93143
Liberty Mutual96145
Progressive98139
Dairyland131232
AssuranceAmerica134180
Bristol West168240
The General198279
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for teens: GEICO

Teenagers are relatively inexperienced drivers. They’re also statistically more likely to engage in dangerous driving behaviors, like driving after dark and distracted driving. As such, teens are much more likely to be in a car accident. Insurance companies anticipate this and charge more up front to insure young drivers.

The average cost of teen car insurance in Panama City is $292 per month.

To lower rates, parents can keep young drivers on their policies and make sure teens take advantage of every discount available. Certain companies offer discounts for safe driving, good grades, being away at school, and more. Here, you can see the quotes offered by top insurers in the area.

The below rates are estimated rates current as of: Monday, February 26 at 11:00 AM PST
Insurance CompanyLiability OnlyFull Coverage
GEICO7687
State Farm7994
Hugo95107
Allstate144166
Safeco170234
Mile Auto176246
Travelers176208
Liberty Mutual184279
Mercury188222
Direct Auto202312
Progressive223318
Dairyland240425
Infinity252291
Foremost260389
AssuranceAmerica304410
Bristol West319455
The General348491
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

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Panama City car insurance quotes by credit tier

Florida permits insurers to consider a driver’s credit report to create a credit-based score and factor that score into the quotes they offer. This means drivers with an excellent or good credit rating pay lower rates than drivers with fair or poor credit.

Here, you can see how your credit affects the quotes you get for car insurance.

Rates by Credit Tier

Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Is car insurance more expensive in Panama City?

Generally speaking, Florida is one of the country’s more expensive states for car insurance. The average rate for full coverage in the state of Florida is $299 per month, and the average rate for liability-only coverage is $213 per month. 

Compare these rates against the national averages of $210 for full coverage and $103 for liability, and you can see that car insurance is more expensive in Florida.

More cities in Florida

Car insurance in Florida exceeds the national averages, but how do rates in Panama City stack up against other Florida cities? The table below shows you the differences.

The average rate for insurance in Panama City is $190 per month.

CityAverage Monthly Quote
Apopka$253
Daytona Beach$236
Jacksonville$255
Miami$315
Orlando$268
Pensacola$209
Tallahassee$216
Tampa$341
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Panama City car insurance FAQs

Looking for more information to help you find the best car insurance in Panama City? Consult the answers below.

  • How much is car insurance in Panama City?

    The average rate for full-coverage car insurance in Panama City is $240 per month, and the average rate for liability-only coverage is $140 per month.

  • Who has the cheapest car insurance in Panama City?

    The cheapest insurers in Panama City are State Farm, GEICO, and Hugo. They offer monthly liability-only rates of $50, $52, and $57, respectively. Keep in mind that another insurer may be cheaper for you based on your circumstances. That’s why it’s important to always compare quotes from several insurers before deciding on a policy.

  • What are the best car insurance companies in Panama City?

    State Farm, GEICO, and Mile Auto rank as three of the top insurers in Panama City. State Farm and GEICO are among the largest insurers in the country and have earned high marks for financial stability, total offerings, and customer service. Mile Auto is a newer insurance company that offers one-of-a-kind control over your insurance by charging you based on the amount you drive.

  • What is the average cost of car insurance per month in Florida?

    The average cost of car insurance in Florida is $256 per month. This makes Florida one of the most expensive states in the nation in terms of average insurance premiums. These high prices are due in part to the weather in Florida and the high number of uninsured drivers.

  • What is the least amount of car insurance you need in Florida?

    To drive legally in the state of Florida, you must have car insurance that meets or exceeds the state’s minimum standards. This includes a personal injury protection limit of $10,000 and a property damage liability limit of $10,000.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Florida Highway Safety and Motor Vehicles. "Florida Insurance Requiremnts." Accessed October 10, 2023
Courtney Washington
Courtney Washington

Courtney Washington is a Texas A&M University graduate. Her extensive knowledge and background in auto, home, and umbrella policies make her a one-stop shop for insurance advice and information. She loves to help her readers understand their insurance choices so they can make informed decisions about their coverage.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

Featured in

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Compare Car Insurance Quotes Instantly

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