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 $175 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 $214 for full coverage and $136 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-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Full Coverage
Liability Only
Best For
State Farm
9.3
$83
$71
Affordable rates
GEICO
9.0
$86
$73
Coverage after a DUI
Mile Auto
7.5
$171
$123
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 more than 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. The team weighted criteria 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 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
Third-party financial ratings: Insurify uses 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 28,000 customer reviews across 155 car insurance companies. We also consider 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 U.S., 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 scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
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.
$53/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.
$62/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 initial representative lied to me about the price of the policy. I'm paying $30 more a month than was quoted.
Matthew - July 25, 2024
Verified
Abandoned by State Farm
It was a negative experience. After 15 years with the company, I was dismissed due to two car accidents on my record, both of which had been previously reported as not my fault. They refused to communicate with me afterwards. I would advise others to consider this before choosing State Farm.
Janet - July 25, 2024
Verified
Too High
I have had State Farm for 5 years and have been very happy until this last renewal. My full coverage insurance jumped up by $400. This is why I keep looking for cheaper insurance.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.0/10
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.
$55/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.
$64/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
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
7.5/10
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.
$92/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.
$128/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
They're good, it just takes a while for them to do anything.
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
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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 $136 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, July 1 at 12:00 PM PDT.
Insurance Company
Average Monthly Quote
State Farm
$53
GEICO
$55
Hugo
$58
Mile Auto
$92
Allstate
$93
Safeco
$104
Travelers
$110
Mercury
$111
Liberty Mutual
$114
Direct Auto
$118
Midvale Home & Auto
$135
Progressive
$138
Infinity
$142
Foremost
$157
Dairyland
$164
GAINSCO
$165
AssuranceAmerica
$183
Bristol West
$196
National General
$222
The General
$236
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 $214 per month, and you can see average quotes from top insurers below.
The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT.
Insurance Company
Average Monthly Quote
State Farm
$62
GEICO
$64
Allstate
$108
Safeco
$126
Mile Auto
$128
Travelers
$129
Mercury
$133
GAINSCO
$183
Hugo
$192
Liberty Mutual
$194
Progressive
$194
Infinity
$197
Midvale Home & Auto
$202
Direct Auto
$213
National General
$231
Foremost
$238
Dairyland
$288
AssuranceAmerica
$291
Bristol West
$291
The General
$341
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.
Shop for Car Insurance in Panama City, FL
Monthly rates start at $53 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 $210 per month in Panama City.
The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT.
Insurance Company
Clean Driving Record
With Speeding Ticket
State Farm
$53
$62
GEICO
$55
$65
Hugo
$58
$73
Mile Auto
$92
$116
Allstate
$93
$110
Safeco
$104
$125
Travelers
$110
$131
Mercury
$111
$142
Liberty Mutual
$114
$149
Direct Auto
$118
$140
Midvale Home & Auto
$135
$166
Progressive
$138
$164
Infinity
$142
$176
Foremost
$157
$206
Dairyland
$164
$195
GAINSCO
$165
$216
AssuranceAmerica
$183
$221
Bristol West
$196
$231
National General
$222
$262
The General
$236
$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 $230 per month in Panama City.
The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT.
Insurance Company
Clean Driving Record
With Accident
State Farm
$53
$67
GEICO
$55
$71
Hugo
$58
$72
Mile Auto
$92
$127
Allstate
$93
$119
Safeco
$104
$129
Travelers
$110
$142
Mercury
$111
$151
Liberty Mutual
$114
$160
Direct Auto
$118
$154
Midvale Home & Auto
$135
$184
Progressive
$138
$180
Infinity
$142
$179
Foremost
$157
$220
Dairyland
$164
$209
GAINSCO
$165
$203
AssuranceAmerica
$183
$234
Bristol West
$196
$248
National General
$222
$286
The General
$236
$308
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: Hugo
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 $265 per month.
The below rates are estimated rates current as of: Monday, July 1 at 12:00 PM PDT.
Insurance Company
Clean Driving Record
With DUI
State Farm
$53
$85
GEICO
$55
$88
Hugo
$58
$82
Mile Auto
$92
$131
Allstate
$93
$149
Safeco
$104
$166
Travelers
$110
$176
Mercury
$111
$159
Liberty Mutual
$114
$182
Direct Auto
$118
$189
Midvale Home & Auto
$135
$216
Progressive
$138
$221
Infinity
$142
$227
Foremost
$157
$251
Dairyland
$164
$262
GAINSCO
$165
$264
AssuranceAmerica
$183
$293
Bristol West
$196
$313
National General
$222
$355
The General
$236
$377
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: Hugo
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 $143 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, July 1 at 12:00 PM PDT.
Insurance Company
Liability Only
Full Coverage
Hugo
$41
$137
State Farm
$41
$48
GEICO
$44
$51
Mile Auto
$69
$96
Allstate
$74
$86
Mercury
$84
$101
Safeco
$85
$102
Travelers
$86
$101
Direct Auto
$91
$164
Liberty Mutual
$91
$156
Progressive
$98
$138
Midvale Home & Auto
$103
$154
Infinity
$107
$148
Foremost
$122
$185
Dairyland
$130
$229
GAINSCO
$136
$151
AssuranceAmerica
$138
$219
Bristol West
$156
$232
National General
$173
$179
The General
$191
$277
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 $274 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, July 1 at 12:00 PM PDT.
Insurance Company
Liability Only
Full Coverage
GEICO
$81
$94
State Farm
$84
$98
Hugo
$94
$312
Allstate
$153
$177
Mile Auto
$168
$234
Travelers
$186
$218
Mercury
$189
$226
Liberty Mutual
$196
$334
Direct Auto
$201
$364
Safeco
$204
$247
Midvale Home & Auto
$217
$325
Progressive
$233
$328
Infinity
$244
$339
Dairyland
$255
$447
Foremost
$261
$395
GAINSCO
$274
$304
Bristol West
$311
$462
AssuranceAmerica
$319
$507
The General
$354
$512
National General
$403
$419
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 $272 per month, and the average rate for liability-only coverage is $196 per month.
Compare these rates against the national averages of $214 for full coverage and $105 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 $175 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 $214 per month, and the average rate for liability-only coverage is $136 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 $53, $55, and $58, 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 $234 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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