Cheap Gap Insurance in Florida (Top 9 Low-Cost Companies for 2024)
To secure the best cheap gap insurance in Florida, Progressive, USAA, and State Farm lead the pack. Minimum coverage with gap starts at just $9/month from Progressive. USAA and State Farm offer stellar customer service and 30% discounts on Florida gap insurance with usage-based policies.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
UPDATED: Oct 15, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 15, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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13,128 reviewsCompany Facts
Gap Insurance in Florida
A.M. Best Rating
Complaint Level
Pros & Cons
13,128 reviews
6,435 reviewsCompany Facts
Gap Insurance in Florida
A.M. Best Rating
Complaint Level
Pros & Cons
6,435 reviews
17,759 reviewsCompany Facts
Gap Insurance in Florida
A.M. Best Rating
Complaint Level
Pros & Cons
17,759 reviews
The best providers for cheap gap insurance in Florida are Progressive, USAA, and State Farm, with low rates starting at $9/month and exceptional customer service reviews.
Progressive provides versatile coverage options, and USAA is renowned for customer satisfaction. Safe Drivers can get even cheaper gap insurance rates with USAA usage-based (UBI) auto insurance. Read our USAA SafePilot Review to learn more.
Our Top 9 Company Picks: Cheap Gap Insurance in Florida
| Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 | #1 | $9 | A+ | Qualifying Coverage | Progressive |
 | #2 | $10 | A++ | Military Members | USAA |
 | #3 | $11 | B | Customer Service | State Farm |
 | #4 | $12 | A+ | Vanishing Deductible | Nationwide |
 | #5 | $13 | A | Usage-Based Discounts | Farmers |
 | #6 | $14 | A+ | Infrequent Drivers | Allstate |
 | #7 | $15 | A+ | Senior Benefits | The Hartford |
 | #8 | $16 | A | Customizable Policies | Liberty Mutual |
 | #9 | $17 | A++ | Bundling Policies | Travelers |
These companies dominate the Florida market, ensuring you get comprehensive gap insurance without breaking the bank. Choose any of these top picks to secure reliable and cost-effective coverage.
Start saving on Florida auto insurance today by entering your ZIP code above and comparing quotes.
- Gap insurance in Florida protects drivers with financed or leased vehicles
- The right gap insurance in Florida safeguards against total loss costs
- The cheapest Florida gap insurance is with Progressive and USAA
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#1 – Progressive: Top Pick Overall
Pros
- Competitive Pricing: With a rate of $9/month, Progressive provides an affordable option for gap insurance in Florida. Get more info in our detailed Progressive auto insurance review.
- A+ A.M. Best Rating: Progressive’s strong financial stability makes it a reliable choice for long-term gap insurance in Florida.
- Snapshot Savings: Sign up for Progressive Snapshot usage-based insurance plans to save over $300/year on gap insurance in Florida.
Cons
- Potential for Rate Increases: There is a risk that rates for Progressive gap insurance in Florida could increase after the first policy term.
- Moderate Coverage Flexibility: Progressive gap insurance in Florida may not fully cover all vehicle financing situations, which could limit its appeal.
#2 – USAA: Cheapest for Military Members
Pros
- Superior Customer Service: USAA is highly regarded for its excellent customer service, providing dedicated support for gap insurance in Florida.
- Loyalty Discounts: USAA offers loyalty discounts to long-term members, making their gap insurance in Florida even more affordable. Learn more in our detailed analysis titled USAA auto insurance review.
- SafePilot Savings: Drivers who sign up for SafePilot UBI could save up to 30% on Florida gap insurance with safe driving habits.
Cons
- Not Available to Non-Military: USAA gap insurance is exclusively available to active and retired military and their families.
- Primarily Online Service: USAA’s services, including gap insurance in Florida, are largely managed online, with limited in-person support available.
#3 – State Farm: Best Customer Service
Pros
- Good Claims Satisfaction: State Farm’s strong track record in claims satisfaction makes it a reliable choice for gap insurance in Florida. Get full ratings in our State Farm review.
- Discounts for Multi-Policy Holders: State Farm provides substantial savings when you bundle gap insurance in Florida with other policies, enhancing overall value.
- Drive Safe & Save: Florida drivers can save up to 30% on gap insurance by tracking driving habits and mileage with State Farm UBI.
Cons
- Rate Increases for Bad Driving: Read our Drive Safe and Save review to see how bad driving habits can shrink discounts on Florida gap insurance.
- Moderate Financial Rating: State Farm’s B rating may be a concern for some consumers looking for the highest-rated financial security in their gap insurance in Florida.
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#4 – Nationwide: Cheapest Vanishing Deductible
Pros
- Vanishing Deductibles: Nationwide makes it easy for Florida drivers to reduce gap insurance deductibles if they avoid claims and accidents.
- Online Policy Management: Nationwide’s user-friendly online tools allow you to easily manage your gap insurance policy in Florida from anywhere. Explore how in our Nationwide Insurance review.
- Strong Claims Process: Nationwide is recognized for its efficient claims handling process, ensuring prompt support and resolution for gap insurance in Florida.
Cons
- Higher Premiums: Nationwide’s gap insurance in Florida comes with a higher monthly rate of $12, making it more expensive than some competitors.
- Complex Discount Qualifications: Earning discounts for gap insurance in Florida with Nationwide can be complex, requiring customers to meet multiple criteria.
#5 – Farmers: Cheapest With Signal App
Pros
- Signal App Discounts: Farmers offers discounts on gap insurance in Florida through its Signal app, which rewards safe driving behavior with lower premiums.
- A-Rated Financial Security: Farmers’ A rating from A.M. Best provides a reliable and financially secure option for gap insurance in Florida.
- Unique Discount Opportunities: Farmers provides exclusive gap insurance discounts for safe driving in Florida. Find affordable policies near you in our Farmers auto insurance review.
Cons
- Lowest Customer Satisfaction: Farmers is dead last for Florida gap insurance customer satisfaction in annual J.D. Power surveys.
- App Dependency: Discounts and certain features for gap insurance in Florida with Farmers are heavily reliant on the consistent use of their Signal app, which may not appeal to all customers.
#6 – Allstate: Cheapest for Infrequent Drivers
Pros
- Usage-Based Variety: Safe drivers get 30% off gap insurance in Florida with Allstate Drivewise, and low-mileage drivers can save with Allstate Milewise regardless of driving record.
- Comprehensive UBI Programs: The Allstate Drivewise app provides discounts and helps drivers monitor and improve their driving habits, enhancing the value of their gap insurance in Florida.
- Solid Customer Support: Allstate is known for its dependable customer service, providing strong support for gap insurance in Florida. Check out policy options and monthly rates in our Allstate review.
Cons
- Higher Monthly Premiums: Allstate gap insurance rates in Florida are often more expensive without usage-based programs.
- Limited Coverage Flexibility: Allstate gap insurance in Florida may not offer as many options for customization as other providers, potentially limiting its appeal.
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#7 – The Hartford: Cheapest for Senior Drivers
Pros
- Exclusive Benefits for Seniors: The Hartford offers unique benefits for senior drivers who need gap insurance in Florida.
- A+ Financial Stability: The Hartford’s strong financial rating ensures reliability and long-term security for gap insurance in Florida. Learn more in our The Hartford auto insurance review.
- Outstanding Customer Support: The Hartford is recognized for its excellent customer service, providing dedicated support for gap insurance in Florida.
Cons
- Highest Monthly Rate: The Hartford gap insurance in Florida is expensive among our top providers, with a monthly premium of $15.
- Limited Eligibility for Benefits: The Hartford gap insurance in Florida is only available to senior drivers who are AARP members.
#8 – Liberty Mutual: Cheapest Customizable Policies
Pros
- Highly Customizable Policies: Liberty Mutual excels in offering gap insurance in Florida that can be tailored to meet a wide range of customer needs.
- Accident Forgiveness Feature: Liberty Mutual includes accident forgiveness in its gap insurance in Florida, which can help keep premiums steady after an at-fault accident.
- RightTrack UBI: Safe drivers save big on Florida gap insurance with a good driving record and low mileage. Read our Liberty Mutual RightTrack review to learn how to qualify.
Cons
- Poor Customer Service: Liberty Mutual ranks below its competitors for Florida gap insurance reviews and claims satisfaction. Read more in our Liberty Mutual auto insurance review.
- Complex Customization Process: While customizable, Liberty Mutual’s gap insurance in Florida may require navigating a complex process to tailor coverage, which could be confusing.
#9 – Travelers: Cheapest When Bundling Policies
Pros
- Significant Bundling Discounts: Travelers offers substantial discounts when you bundle gap insurance in Florida with other insurance products, such as home or auto insurance.
- A++ Financial Rating: Travelers’ top-tier financial strength rating ensures a secure and reliable option for gap insurance in Florida. Get full ratings in our Travelers auto insurance review.
- Advanced Online Management Tools: Travelers offers robust and user-friendly online tools for managing gap insurance in Florida, enhancing the overall policyholder experience.
Cons
- Higher Premium Costs: At $17 per month, Travelers gap insurance in Florida is the most expensive options available.
- Limited Vehicle Eligibility: Some vehicle types may not qualify for Travelers gap insurance in Florida, limiting its availability to certain customers.
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Comparing Quotes for Cheap Gap Insurance Rates in Florida
It’s critical to understand the cost of Florida gap insurance in order to save money on car insurance. The table below showcases the monthly costs for both basic and full coverage among leading insurance companies in the state:
Florida Gap Insurance Rates by Provider
| Insurance Company | Monthly Rates |
|---|---|
| $14 |
| $13 |
| $16 |
| $12 |
| $9 |
| $11 |
| $15 |
| $17 |
| $10 |
When assessing gap insurance in Florida, Progressive stands out with the most affordable rates, offering basic coverage with gap at just $9/month.
The most epic rides are the ones where you stay safe! Where should Jamie and I ride next? 😎 🛞 🏍️ #MotorSportsAwarenessMonth pic.twitter.com/OsYkKUx3VK
— Flo from Progressive (@ItsFlo) August 25, 2024
Conversely, The Hartford features the premiums, with basic coverage priced at $15/month. Fortunately, these Florida auto insurance rates are still cheap, especially for older drivers who qualify for senior discounts.
Florida Report Card: Auto Insurance Discounts
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Good Driver Discount | A | 23% | Geico, Allstate, State Farm, Progressive |
| Good Student Discount | A | 18% | State Farm, Allstate, Liberty Mutual |
| Multi-Policy Discount | A- | 20% | Nationwide, Liberty Mutual, USAA |
| Defensive Driving Discount | B+ | 15% | Allstate, Geico, Travelers |
| Low Mileage Discount | B | 9% | Progressive, Liberty Mutual, Nationwide |
The Hartford provides some of the best auto insurance for seniors in Florida with exclusive AARP discounts that lower rates.
Primary Factors Impacting Gap Insurance Costs in Florida
Guaranteed asset protection (gap) insurance protects you from paying out the remainder of an auto loan or lease if your vehicle is totaled in a claim. So it’s no surprise that the make, model. and age of your car affect Florida gap insurance rates the most.
Newer and luxury models typically cost more to replace and repair, which increases gap insurance costs. Where you live and park your car is also important. Florida cities with high traffic or weather risks will see elevated rates.
Florida Report Card: Auto Insurance Premiums
| Category | Grade | Explanation | |
|---|---|---|---|
| Discount Availability | A- | Discounts available for safe drivers, students, and multi-policy holders | Nationwide, Liberty Mutual, USAA |
| Customer Satisfaction | B+ | Overall positive, but claims handling could see improvements | Progressive, Liberty Mutual, Nationwide |
| Regional Variation | B | Significant variation in rates between urban and rural areas | Allstate, Geico, Travelers |
| Average Premiums | B- | Premiums are higher than the national average, especially in urban areas | Geico, Allstate, State Farm, Progressive |
| Premiums for High-Risk Drivers | C+ | Significantly higher premiums for drivers with accidents or violations | State Farm, Allstate, Liberty Mutual |
Your driving history is another critical component. A spotless record can lower your premiums, whereas accidents, infractions, or claims might cause substantial hikes. Additionally, choosing comprehensive coverage over minimum coverage significantly impacts your overall insurance costs by providing broader protection.
Read More: Compare Auto Insurance Rates by Vehicle Make and Model
Effective Approaches to Reduce Florida Gap Insurance Costs
It can be hard to keep track of your auto insurance, but if you know what to do, you can lower your rates without lowering your coverage. You can save money on Florida car insurance by following these useful tips:
- Compare Quotes: Get quotes from several insurance companies to find the best rate. This easy step can save you a lot of money.
- Adjust Deductibles: If you choose a bigger deductible, your monthly payments will be lower, but make sure you can pay for the higher costs if you need to file a claim.
- Drive Less: Pay-as-you-go auto insurance in Florida is an affordable option for low-mileage drivers who drive less than 10,000 miles a year.
- Ask for Discounts: Save even more money by taking advantage of discounts for things like safe driving, low mileage, or adding anti-theft devices.
Sometimes you can get a discount on your auto insurance if you bundle it with other types of insurance, like home or renters insurance. Explore more gap insurance discount opportunities in the table below:
Auto Insurance Discounts from the Top Providers for Gap in Florida
| Insurance Company | Available Discounts |
|---|---|
| Safe Driver, Multi-Policy, New Car, Early Signing |
| Multi-Policy, Safe Driver, Homeowner, Good Student |
| Multi-Policy, Early Shopper, Online Purchase, Good Student |
| Multi-Policy, SmartRide, Accident-Free, Paperless |
| Multi-Policy, Continuous Insurance, Snapshot, Good Student |
| Multi-Line, Safe Vehicle, Steer Clear, Drive Safe & Save |
| Multi-Policy, AARP Membership, Defensive Driver |
| Multi-Policy, Safe Driver, Hybrid/Electric Vehicle, Continuous Coverage |
| Multi-Policy, Safe Driver, Military, New Vehicle |
A clean driving record is also very important because, not only are Florida insurance rates cheaper for people who drive safely, but you can qualify for additional discounts based on driving habits and remaining claim-free.
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A Breakdown of Auto Insurance Claims Costs in Florida
Auto insurance claims in Florida come in various forms, with some types being far more common than others. Understanding these claims and their associated costs can help drivers make more informed decisions about their insurance coverage.
5 Most Common Auto Insurance Claims in Florida
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Collision | 35% | $3,900 |
| Comprehensive | 22% | $2,600 |
| Property Damage | 18% | $4,200 |
| Bodily Injury Liability | 15% | $17,000 |
| Personal Injury Protection (PIP) | 10% | $9,500 |
These figures show how often each claim occurs and the typical costs associated with them, which can vary depending on the severity of the incident.
Cities in Florida experience varying levels of accidents and insurance claims. Below is a comparison of major cities based on the number of accidents and claims:
Florida Accidents & Claims per Year by City
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Fort Lauderdale | 5,600 | $4,200 |
| Jacksonville | 6,400 | $4,900 |
| Miami | 13,500 | $10,500 |
| Orlando | 6,800 | 5,200 |
| Tampa | 7,200 | $5,400 |
Drivers in these cities should be aware of the higher accident and claim rates, particularly in Miami, where the number of incidents and related claims are significantly above the state average. Deepen your understanding by reading our guide called, “Florida Minimum Auto Insurance Requirements.”
The Best Gap Insurance Providers in Florida
Getting cheap auto insurance in Florida starts with getting the right gap insurance for your new car. In Florida’s highly competitive auto insurance market, three standout providers consistently emerge as leaders, each delivering unique benefits tailored to satisfy the diverse needs of a broad spectrum of drivers.
Progressive offers the most competitive rates in Florida, with basic gap insurance starting at just $3 per month.Kristen Gryglik Licensed Insurance Agent
Progressive, USAA, and State Farm have cheap gap insurance in Florida with additional usage-based savings for good and low-mileage drivers.
Progressive provides customizable insurance plans that can evolve with the changing needs of drivers. Whether it involves adding new coverages or modifying existing ones, Progressive offers both financial security and flexible options that attract drivers looking for personalized solutions.
USAA delivers specialized auto insurance for military families and veterans in Florida. USAA’s dedication to outstanding customer service and comprehensive protection ensures that its members receive the highest level of care and peace of mind.
Use our free comparison tool below to see what Florida gap insurance quotes look like in your area.
Frequently Asked Questions
How much is gap insurance in Florida?
The cost of gap insurance in Florida typically ranges from $9 to $17 per month, depending on the provider and the specific coverage options you choose.
Is gap insurance worth it in Florida?
Florida gap insurance is worth it if you have a financed or leased vehicle, as it covers the difference between your car’s value and what you owe if it’s totaled.
What exactly does gap insurance in Florida cover?
Gap insurance in Florida covers the difference between your vehicle’s actual cash value and the remaining loan or lease balance if your car is totaled.
How do I figure the cost of gap insurance in Florida?
To figure the cost of gap insurance in Florida, compare quotes from multiple providers, considering factors like vehicle type, loan amount, and selected coverage. Enter your ZIP code below to see how much gap insurance costs near you.
What are the cons of gap insurance in Florida?
The cons of gap insurance in Florida include potential higher costs, limited coverage options, and the fact that it may not cover mechanical issues like engine failure.
How does gap insurance work in Florida?
Gap insurance in Florida works by covering the difference between your vehicle’s actual cash value and the remaining loan or lease balance if the car is totaled. (Learn More: Is gap insurance transferable if you sell the car?)
Does gap insurance pay a deductible?
Gap insurance does not pay your deductible. It covers the difference between the insurance payout and the amount you owe on your vehicle.
Does gap insurance in Florida cover engine failure?
No, gap insurance in Florida does not cover engine failure; it only covers the financial gap if your vehicle is totaled and the payout is less than what you owe.
Can you cancel gap insurance in Florida?
Yes, you can cancel gap insurance in Florida at any time by contacting your insurance provider. Read our guide on how to cancel auto insurance for a step-by-step explanation.
Should I drop my Florida gap insurance?
You should consider dropping gap insurance in Florida once your vehicle’s loan or lease balance is lower than its actual cash value.
Does Geico offer gap insurance in Florida?
Does Geico offer gap insurance? No, Geico doesn’t sell gap insurance in Florida or any state.
Is Allstate cheaper than Geico gap insurance in Florida?
Generally, Geico is cheaper than Allstate in Florida, but Geico doesn’t sell gap insurance. Progressive, USAA, and State Farm all have cheaper Florida gap insurance than Allstate.
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Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.