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.
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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If you live in Panama City, you can expect to pay an average of $187 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 $233 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 Company
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.
Full Coverage
Liability Only
Best For
State Farm
4.5
$81
$70
Affordable rates
GEICO
4.2
$83
$72
Coverage after a DUI
Mile Auto
3.5
$185
$134
Low-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.
Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. 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.
We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.
Third-party financial ratings: We use data from AM Best, S&P, Moody's, and more to compare insurance companies’ credit and ability to pay out future claims.
Customer satisfaction: To calculate this score, Insurify analyzed more than 20,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.
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.
$58/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.
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
I need cheaper coverage. It's too much for two cars.
Eminny - April 17, 2024
Verified
Inconsistent Communication and Service
This is my second time with GEICO. The first time was fine, but this time around, they set my policy to be cancelled on a Monday. They claimed to have sent me a letter the previous Friday requesting documents that I never received. I called them multiple times about it, and each time I received a different reason and excuse. Despite sending them everything they needed, my policy remains cancelled. Without insurance, my car just sits there, and since it's financed, I might even end up losing it. I'm just waiting for them to review my documents and reactivate my policy. They said they would reach out to me if they needed anything else or to at least let me know the verdict, which they never did. I have to keep calling them myself, only to receive different excuses each time and no policy reactivation. They never reach out when they say they will, and other insurance options are very expensive for me as a fairly new driver.
Andy - April 15, 2024
Verified
Unexpected Rate Increase
I had an accident and they raised my rates to over $8,000 a year. I initially thought I was making normal upfront payments, but it turned out to be monthly payments.
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.
$98/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.
$136/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.
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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: Wednesday, April 17 at 12:00 PM PDT.
Insurance Company
Average Monthly Quote
State Farm
50
GEICO
52
Hugo
56
Allstate
88
Safeco
96
Mile Auto
98
Travelers
104
Mercury
109
Liberty Mutual
115
Direct Auto
117
Midvale Home & Auto
130
Progressive
132
Infinity
148
Foremost
156
Dairyland
158
AssuranceAmerica
172
Bristol West
204
National General
227
The General
233
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 $233 per month, and you can see average quotes from top insurers below.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Insurance Company
Average Monthly Quote
State Farm
58
GEICO
60
Hugo
64
Allstate
102
Travelers
122
Mercury
128
Safeco
131
Mile Auto
136
GAINSCO
160
Infinity
173
Liberty Mutual
175
Midvale Home & Auto
187
Direct Auto
188
Progressive
188
Foremost
229
National General
229
AssuranceAmerica
235
Dairyland
281
Bristol West
291
The General
331
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.
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:
Coverage
Minimum 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:
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.
Additional PIP coverage
This supplemental coverage acts in addition to your traditional PIP coverage to protect you and your family.
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.
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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 $222 per month in Panama City.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Insurance Company
Clean Driving Record
With Speeding Ticket
State Farm
50
57
GEICO
52
60
Hugo
56
73
Allstate
88
102
Safeco
96
122
Mile Auto
98
128
Travelers
104
123
Mercury
109
148
Liberty Mutual
115
145
Direct Auto
117
141
Progressive
132
161
Infinity
148
178
Dairyland
158
191
AssuranceAmerica
172
215
Bristol West
204
243
National General
227
266
The General
233
283
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 $239 per month in Panama City.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Insurance Company
Clean Driving Record
With Accident
State Farm
50
62
GEICO
52
65
Hugo
56
70
Allstate
88
110
Safeco
96
132
Mile Auto
98
138
Travelers
104
132
Mercury
109
158
Liberty Mutual
115
156
Direct Auto
117
152
Progressive
132
172
Infinity
148
178
Dairyland
158
203
AssuranceAmerica
172
226
Bristol West
204
256
National General
227
291
The General
233
303
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 $276 per month.
The below rates are estimated rates current as of: Wednesday, April 17 at 12:00 PM PDT.
Insurance Company
Clean Driving Record
With DUI
State Farm
50
76
GEICO
52
79
Hugo
56
78
Allstate
88
133
Safeco
96
145
Mile Auto
98
154
Travelers
104
157
Mercury
109
170
Liberty Mutual
115
174
Direct Auto
117
177
Progressive
132
200
Infinity
148
224
Foremost
156
236
Dairyland
158
239
AssuranceAmerica
172
260
Bristol West
204
309
National General
227
344
The General
233
353
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 $156 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: Wednesday, April 17 at 12:00 PM PDT.
Insurance Company
Liability Only
Full Coverage
State Farm
39
45
GEICO
42
48
Allstate
72
83
Mile Auto
76
105
Safeco
82
112
Travelers
83
97
Mercury
90
105
Direct Auto
91
147
Liberty Mutual
95
145
Progressive
96
137
AssuranceAmerica
129
176
Dairyland
129
229
Bristol West
165
235
National General
185
187
The General
192
273
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 $286 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: Wednesday, April 17 at 12:00 PM PDT.
Insurance Company
Liability Only
Full Coverage
GEICO
76
87
State Farm
80
92
Hugo
94
108
Allstate
144
167
Safeco
160
218
Travelers
175
205
Mile Auto
177
246
Liberty Mutual
180
274
Mercury
187
219
Direct Auto
199
320
Progressive
221
315
Infinity
231
270
Dairyland
237
422
Foremost
260
381
AssuranceAmerica
310
423
Bristol West
315
449
The General
345
490
National General
404
407
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 $214 per month.
Compare these rates against the national averages of $213 for full coverage and $104 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 $187 per month.
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 $233 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 $56, 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 $257 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.
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.
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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