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.

Actualizado el 6 de mayo de 2024

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Las tarifas más baratas encontradas recientemente en Florida

Los conductores que utilizan Insurify han encontrado cotizaciones tan baratas como $44/mes para solo responsabilidad y $82/mes para cobertura total en Florida.

*Cotizaciones generadas para los usuarios de Insurify en los últimos 10 días. Actualizado el 6 de mayo de 2024

Las tarifas que se muestran son cotizaciones de usuarios de Insurify en tiempo real de más de 100 compañías de seguros y datos de Quadrant Information Services. El algoritmo de Insurify excluye las cotizaciones anómalas y anonimiza los datos personales. Luego, muestra las cotizaciones detalladas por precio, fecha y popularidad de la aseguradora hasta hace 10 días a partir de 6 de mayo de 2024. Las cotizaciones reales pueden variar según el perfil de conductor único del comprador de la póliza.

*Cotizaciones generadas para los usuarios de Insurify en los últimos 10 días. Actualizado el 6 de mayo de 2024

Las tarifas que se muestran son cotizaciones de usuarios de Insurify en tiempo real de más de 100 compañías de seguros y datos de Quadrant Information Services. El algoritmo de Insurify excluye las cotizaciones anómalas y anonimiza los datos personales. Luego, muestra las cotizaciones detalladas por precio, fecha y popularidad de la aseguradora hasta hace 10 días a partir de 6 de mayo de 2024. Las cotizaciones reales pueden variar según el perfil de conductor único del comprador de la póliza.

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.

Datos Breves
  • 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 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 Farm4.6$82$70Affordable rates
GEICO4.4$84$72Coverage after a DUI
Mile Auto3.7$185$134Low-mileage drivers
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.
  • El puntaje compuesto de Insurify (ICS) es una marca propietaria calculada por nuestro equipo de analistas, que se basa en múltiples factores que reflejan la calidad, la fiabilidad, y la salud financiera de una compañía de seguros.

    Los factores de entrada a la puntuación se incluyen en el puntaje de A.M. Best, Standard & Poor’s, Moody’s, y Fitch; puntajes de J.D. Power; encuestas de satisfacción de los consumidores de Consumer Reports y de reclamaciones de los consumidores; opiniones de los usuarios sobre la aplicación móvil; y opiniones de los usuarios sobre la compañía.

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.
4.5
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.

Ventajas
  • Excellent customer service ratings

  • Easy online experiences

Contras
  • Doesn’t offer gap coverage

  • Can be expensive for drivers with poor credit

Read our State Farm review
Colleen - May 2, 2024
Verified

Look Further

The rates are consistently high and unaffordable.

Walters - April 25, 2024
Verified

Good

I had a good relationship with them until my bank messed up. I didn't receive the cancellation notice until it was already too late.

Wanda Carole - April 22, 2024
Verified

Excellent

Check out other companies and their rates before making a decision.

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.
4.2
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.

Ventajas
  • 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

Contras
  • Local agent network can be limited

  • Bundling discount smaller than with some other companies

Read our GEICO review
Holly - April 30, 2024
Verified

Long-Time Customer Treated Poorly!

We were with Geico for over 20 years and then had a terrible customer service experience. This wasn't a minor issue or just one agent. The problem involved conversations with multiple agents and supervisors. It's disappointing that after being insured with this company for so long, they showed no interest in resolving an unexpected situation that was actually an honest mistake made by one of their agents. I don't recommend them!

Elizabeth - April 25, 2024
Verified

Excellent

It has always been great.

Andrew - April 24, 2024
Verified

AI-Run, Money-Hungry Company

The customer service is poor and very unprofessional. It's impossible to speak to an agent.

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.
3.5
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 aaa (exceptional) to c (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.

Ventajas
  • Provides unmatched control over your insurance costs

  • Great for retirees and people who seldom drive

Contras
  • 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: viernes, 3 de mayo, 0:00 p. m. GMT-7
Insurance CompanyAverage Monthly Quote
State Farm50
GEICO52
Hugo56
Allstate88
Safeco96
Mile Auto98
Travelers104
Mercury109
Liberty Mutual115
Direct Auto117
Midvale Home & Auto130
Progressive132
Infinity148
Foremost156
Dairyland158
AssuranceAmerica172
Bristol West204
National General227
The General233
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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: viernes, 3 de mayo, 0:00 p. m. GMT-7
Insurance CompanyAverage Monthly Quote
State Farm58
GEICO60
Hugo64
Allstate102
Travelers122
Mercury128
Safeco131
Mile Auto136
GAINSCO160
Infinity173
Liberty Mutual175
Midvale Home & Auto187
Direct Auto188
Progressive188
Foremost229
National General229
AssuranceAmerica235
Dairyland281
Bristol West291
The General331
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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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 $222 per month in Panama City.

The below rates are estimated rates current as of: viernes, 3 de mayo, 0:00 p. m. GMT-7
Insurance CompanyClean Driving RecordWith Speeding Ticket
State Farm5058
GEICO5261
Hugo5670
Allstate88103
Safeco96114
Mile Auto98125
Travelers104123
Mercury109138
Liberty Mutual115150
Direct Auto117139
Midvale Home & Auto130158
Progressive132155
Infinity148181
Foremost156204
Dairyland158186
AssuranceAmerica172207
Bristol West204237
National General227296
The General233277
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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 $240 per month in Panama City.

The below rates are estimated rates current as of: viernes, 3 de mayo, 0:00 p. m. GMT-7
Insurance CompanyClean Driving RecordWith Accident
State Farm5063
GEICO5266
Hugo5668
Allstate88110
Safeco96117
Mile Auto98136
Travelers104132
Mercury109146
Liberty Mutual115159
Direct Auto117151
Midvale Home & Auto130173
Progressive132169
Infinity148183
Foremost156215
Dairyland158199
AssuranceAmerica172217
Bristol West204252
National General227282
The General233299
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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 $277 per month.

The below rates are estimated rates current as of: viernes, 3 de mayo, 0:00 p. m. GMT-7
Insurance CompanyClean Driving RecordWith DUI
State Farm5079
GEICO5282
Hugo5688
Allstate88139
Safeco96152
Mile Auto98140
Travelers104164
Mercury109155
Liberty Mutual115182
Direct Auto117185
Midvale Home & Auto130205
Progressive132208
Infinity148234
Foremost156246
Dairyland158249
AssuranceAmerica172271
Bristol West204322
National General227358
The General233368
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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: viernes, 3 de mayo, 0:00 p. m. GMT-7
Insurance CompanyLiability OnlyFull Coverage
State Farm3945
Hugo4046
GEICO4148
Allstate7182
Mile Auto74103
Safeco77106
Mercury8297
Travelers8296
Direct Auto90144
Liberty Mutual91138
Progressive95136
Midvale Home & Auto99143
Infinity112131
Foremost122179
Dairyland127226
AssuranceAmerica131179
Bristol West164233
National General183184
The General191272
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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: viernes, 3 de mayo, 0:00 p. m. GMT-7
Insurance CompanyLiability OnlyFull Coverage
GEICO7586
State Farm7890
Hugo90103
Allstate142164
Travelers173203
Mile Auto176244
Mercury184216
Safeco189258
Direct Auto198318
Liberty Mutual199303
Midvale Home & Auto209301
Progressive221315
Dairyland244434
Infinity251294
Foremost255374
AssuranceAmerica296404
Bristol West320456
The General346492
National General391394
Descargo de responsabilidad: Datos en esta tabla encontrados en cotizaciones reales de las 50+ aseguradoras asociadas con Insurify, más estimaciones de Quadrant Information Services. las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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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 $297 per month, and the average rate for liability-only coverage is $215 per month. 

Compare these rates against the national averages of $214 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.

CityAverage Monthly Quote
Apopka$256
Daytona Beach$240
Jacksonville$252
Miami$317
Orlando$266
Pensacola$215
Tallahassee$216
Tampa$342
Descargo de responsabilidad: las cotizaciones reales variarán en función del perfil de conductor único del asegurado.

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 $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.

Metodología

Las cotizaciones de seguros de auto que se muestran se basan en un análisis de la base de datos de Insurify de más de 40 millones de cotizaciones de 500 códigos ZIP a nivel nacional. Para obtener las tarifas representativas, el equipo de datos de Insurify realiza análisis exhaustivos frecuentes de los factores utilizados por las aseguradoras de autos para calcular tarifas, incluyendo datos demográficos del conductor, historia del conductor, puntuación de crédito, nivel de cobertura deseado y más.

El análisis de Insurify también incorpora la puntuación compuesta Insurify (ICS) asignada a cada compañía de seguros. La ICS es una puntuación propietaria que pesa factores que reflejan la calidad, fiabilidad y salud de una compañía de seguros. Las puntuaciones utilizadas para calcular la ICS incluyen las puntuaciones financieras de A.M. Best, Standard & Poor’s, Moody’s, y Fitch; puntuaciones de J.D. Power; encuestas de satisfacción de consumidores de Consumer Reports y denuncias de consumidores; opiniones de los usuarios en las aplicaciones móviles y opiniones de los usuarios en las compañías; y las opiniones de los usuarios en las compañías.

Con los análisis y métodos de clasificación anteriores, Insurify es capaz de ofrecer a los consumidores de seguros de autos una perspectiva de cómo varían las cotizaciones de las compañías de seguros en relación a uno a uno en términos de costo y calidad. Tenga en cuenta que las cotizaciones reales varían según los atributos únicos incluidos en la poliza del conductor y su dirección de garaje.

Sources

  1. Florida Highway Safety and Motor Vehicles. "Florida Insurance Requiremnts."

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