Cheapest Car Insurance Quotes in Panama City

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Panama City Car Insurance

^$ 17

/mo

Written by Sara Sam

Edited by Renee Martin

Why you can trust Way?

The auto insurance rates published in this guide are based on the results of research completed by Way’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with Way.

Table of Contents

How Much Is Car Insurance in Panama City

The car insurance rate in Panama City is $1313 for a six-month policy, which is $288 lower than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $838, making it a popular choice for budget-conscious drivers. Rates in Panama City can vary depending on your age, driving record, and coverage level, so not every driver will pay the same amount. Choosing a higher deductible, maintaining a clean driving history, and comparing quotes from multiple insurers can help you find better deals and save money over time.

Avg. Car Insurance in Panama City

$1313

Avg. Car Insurance in Florida

$1601

National Average

$1140

Cheapest Car Insurance Companies in Panama City

1st place: Travelers

At $838 for a six month policy, Travelers offers the cheapest auto insurance rates in the city.

2nd place: State Farm

State Farm offers auto insurance rates at $891 for a six-month policy, making it one of the cheapest to insure with.

3rd place: Nationwide

Nationwide offers auto insurance rates at $1037 for six months, making it the third cheapest auto insurance company in Panama City.

Panama City Car Insurance Rates by Company

Based on our research, the cheapest car insurance company in Panama City, FL is Travelers, offering policies at just $838 for a six-month term. This is followed by State Farm, which has an average six-month premium of $891.

At the higher end of the spectrum, Metropolitan Group is the most expensive, with rates reaching $784 for a six-month policy. Rates can vary widely by driver, but comparing quotes from multiple companies can help Panama City drivers find the best deals.

Cheap Car Insurance Companies in Panama City, FL

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Travelers	$838	$141
State Farm	$891	$150
Nationwide	$1037	$175
United Automobile Ins Group	$1120	$187
Progressive	$1169	$197
UAIC	$1169	$195
MetLife	$1232	$210
Farmers	$1958	$326
Mercury	$2114	$359
Allstate	$2129	$358
Metropolitan Group	$784	$130

Key Takeaways

Way's key takeaways about car insurance in Panama City

The auto insurance costs in Panama City fall around $838 for six months.
The cheapest auto insurance company in Panama City is Patrons Insurance.
Teen drivers pay the highest rate in Panama City at $1132 per month.

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Cheapest Minimum Liability Car Insurance in Panama City

Since car insurance is a critical requirement for owning a car, you must have minimum liability car insurance. The cheapest car insurance companies for minimum coverage in Panama City are given below.

Patrons Insurance provides the cheapest minimum car insurance coverage in Panama City. Their Average 6 Month Premium is $103. Metropolitan Group is the most expensive at $312 for the same period.

Cheapest Liability Coverage in Panama City, FL

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Patrons Insurance	$103	$17
Travelers	$312	$52
State Farm	$331	$56
Mercury	$351	$59
Nationwide	$390	$66
Farmers	$540	$90
AIG	$550	$93
Progressive	$575	$97
United Automobile Ins Group	$590	$100
UAIC	$638	$107
Allstate	$736	$124
Metropolitan Group	$312	$52

Cheapest Full Coverage Car Insurance in Panama City

One might think that minimum coverage is only required when insuring your car insurance. However, having full coverage car insurance in any city is certainly a wise choice as it offers better coverage and protection. Our best pick for the cheapest auto insurance quotes in Panama City is Travelers at $141 per month and $838 for six months.

Cheapest Full Coverage Car Insurance Quotes in Panama City, FL

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Travelers	$838	$141
State Farm	$891	$150
Nationwide	$1037	$175
United Automobile Ins Group	$1120	$187
Progressive	$1169	$197
UAIC	$1169	$195
MetLife	$1232	$210
Farmers	$1958	$326
Mercury	$2114	$359
Allstate	$2129	$358
Metropolitan Group	$784	$130

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Average Car Insurance in Panama City by Rating Factor

The car insurance rates for two people under the same ZIP code will mostly be different. This is mostly because insurance rates are calculated based on several rating factors. These rating factors include the driver's age, gender, marital status, driving and claims history, credit score, location, type of vehicle, and coverage levels.

I have a clean driving record. Why is my car insurance rate here in Panama City, FL increasing?

Despite maintaining a clean driving record, your car insurance rates in Panama City, Florida, may be increasing due to several external factors. Florida has experienced significant rate hikes recently, with average premiums rising by 25.5% in 2023, largely attributed to higher claims volumes and inflation.

Additionally, Panama City's high urban population density, raised auto theft rates, and frequent natural disasters contribute to increased insurance costs.

Car Insurance Premiums by Age in Panama City

It is quite evident why teen drivers pay the highest car insurance rates in any city. Their lack of experience and increased accident rates make them a highly risky category. However, as you grow older, your car insurance rates will decrease. So, it is better to not have separate policies for teens; instead, add them to their parents' policies.

Cheapest Car Insurance Companies Based on Age Group

Age Group	Cheapest Companies	Avg. 6 Mo. Premium
20s	Travelers	$1064
40s	Travelers	$803
50s	Travelers	$749
60s	Travelers	$738

Cheapest Car Insurance Rates for Teen Drivers in Panama City,FL

If you are planning to get a car insurance policy for your teenage dependent, Nationwide provides the cheapest car insurance in the Panama City at $74 per month. At $6658 for a six-month premium, Farmers offers the most expensive rate for teen drivers.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Nationwide	$444	$74
AIG	$599	$102
Travelers	$1359	$229
State Farm	$1788	$301
UAIC	$2659	$444
United Automobile Ins Group	$2762	$470
Allstate	$4189	$705
Mercury	$5192	$874
Progressive	$5548	$934
Farmers	$6658	$1132

Teen Car Insurance Rates in FL by Age

Way Tip

If you are in your twenties Travelers is the best choice for car insurance in Panama City.

As young drivers face the highest rates in Panama City, Travelers offers the cheapest auto insurance rates at $1064 for six months.

Car Insurance Rates by Credit Score & Driving History

Similar to your driving history, your financial history also plays a key role in determining your auto insurance rates. A low credit score would mean a lapse in payment and increased chances of filing claims, which results in higher auto insurance rates. Therefore, the higher the credit score, the lower the car insurance rates will be.

Cheapest Car Insurance Companies for Bad Credit

For those with poor credit scores in Panama City, Nationwide is the cheapest car insurance provider. At $531 for a six-month premium, they offer the best rates in the city. The most expensive auto insurance rate for drivers with bad credit in Panama City is Allstate, offering rates of around $4257 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Nationwide	$531	$90
Mercury	$580	$97
Direct General Insurance	$604	$103
Travelers	$1150	$194
UAIC	$1169	$198
Progressive	$2260	$376
Farmers	$2708	$461
State Farm	$4057	$677
Allstate	$4257	$724

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Car Insurance Rates with An Accident in Panama City

Both accidents and the resulting increase in insurance rates are often beyond our control. When you’re involved in an accident, you become riskier to insure, consequently increasing the rates. In Panama City, FL, accidents can lead to significant hikes in your premiums.

Cheapest Car Insurance Companies after an At-Fault Accident in Panama City

The cheapest car insurance companies after an at-fault accident in Panama City include Nationwide and AIG, offering $560 and $716, respectively. National General is an expensive provider with an average six-month premium of $867.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Nationwide	$560	$93
AIG	$716	$121
Travelers	$809	$136
State Farm	$833	$140
United Automobile Ins Group	$1456	$243
Mercury	$1505	$253
UAIC	$1524	$254
Progressive	$1997	$336
Farmers	$2732	$455
Allstate	$3697	$622
National General	$867	$148

Panama City Car Insurance Rates by Violation

Here is a list of driving violations that can increase your car insurance rates in Panama City FL. For example, the car insurance in Panama City after a DUI increases to $769 for a six month policy. While the rate increases by $233 for a six-month policy in the case of a speeding ticket.

Panama City auto insurance quotes by violations

Accident/Violation	Avg. 6 Mo Premium	Avg. Monthly Premium
None	$1496	$249
One Med/PIP claim	$1496	$254
Not-at-fault accident	$1617	$270
Two Med/PIP claims	$1661	$282
One comp claim	$1685	$281
Child safety restraint	$1690	$287
Failure to wear a seat belt	$1690	$282
Driving without lights	$1695	$288
Failure to show documents	$1695	$283
Speeding 6 - 10 MPH over limit	$1729	$294
Improper passing	$1734	$289
Passing school bus	$1734	$295
Wrong way/wrong lane	$1734	$289
Failure to stop at a red light	$1739	$296
Failure to yield	$1739	$289
Illegal turn	$1739	$296
Cell phone violation	$1744	$290
Driving with expired registration	$1744	$297
Following too closely	$1744	$290
Texting while driving	$1748	$298
Two comp claims	$1788	$298
Driving too slowly	$1797	$306
Speeding in school zone	$1797	$299
Speeding 11 - 15 MPH over limit	$1802	$307
In 65 MPH zone	$1866	$311
Speeding 16 - 20 MPH over limit	$1866	$317
Speeding 21 - 25 MPH over limit	$1875	$312
Open container	$1895	$322
Operating a vehicle without permission	$1895	$316
At-fault accident - less than $1000	$2056	$349
At-fault accident - $1000-$2000	$2089	$349
At-fault accident - greater than $2000	$2089	$355
Racing	$2260	$376
DUI	$2265	$385
Refusal to submit to a chemical test	$2265	$377
Driving with a suspended license	$2304	$392
Reckless driving	$2353	$392
Leaving scene of an accident/hit and run	$2377	$404

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Way Tip

Avoid Having A DUI On Your Driving Record.

A DUI can increase your car insurance rates—by $5,000 to $10,000 over five years. Speeding, reckless driving, and at-fault accidents also raise rates, staying on your record for 3–5 years, while DUIs/DWIs can impact you longer.

Car Insurance Rates in Panama City after a DUI

There may have been times when you drank but chose not to drive—a smart and responsible decision, as most states treat DUIs as a serious offense. Your car insurance rates can double after a DUI charge, making it harder to find affordable coverage in Panama City.

The cheapest car insurance premiums in Panama City are offered by AIG at $526 for a six-month policy. However, it can be as expensive as $653 with companies like National General.

Panama City car insurance quotes with a DUI

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
AIG	$526	$88
Travelers	$838	$141
State Farm	$1018	$171
Progressive	$1027	$173
Allstate	$1870	$315
UAIC	$2061	$350
Farmers	$2226	$371
National General	$653	$109

Cheapest car insurance after a speeding ticket

One of the easiest ways to save money on car insurance is to stay within the speed limit. After a speeding violation, the cheapest car insurance premiums in Panama City are offered by Nationwide at $458. However, it can be as expensive as $2377 with companies like Farmers for a similar six-month premium.

Cheapest Car Insurance in Panama City after Speeding ticket

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Nationwide	$458	$78
State Farm	$590	$99
Travelers	$706	$119
UAIC	$1169	$195
Allstate	$1340	$226
Progressive	$1934	$322
Farmers	$2377	$404

Car Insurance Price Trends in Panama City, Florida

Car insurance rates in Panama City have fluctuated due to factors such as state regulations, inflation, and changing driving habits.

The average cost of full coverage in the Panama City remained steady at $226 in both December and November, indicating no change over the two month period.

The average cost of liability insurance in the Panama City remained steady at $69 in both December and November, indicating no change over the two month period.

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Average Car Insurance Cost in Panama City by ZIP Code

The crime rate, the number of accidents, and the probability of natural calamities all determine the car insurance rates in different neighborhoods in the Panama City. At $1535 for a six-month policy, insuring your car at 32401 is the cheapest in the city.

Zip Code	Average 6 Mo. Premium	Avg. Monthly Premium
32401	$1535	$258
32409	$1417	$238
32408	$1509	$253
32405	$1641	$275
32403	$1339	$224
32404	$1719	$288

Frequently Asked Questions

How much is car insurance in Panama City?

The car insurance in Panama City is $17 per month, which is lower than the national average.

What is the cheapest car insurance in Panama City?

The cheapest car insurance in Panama City is $141 per month for full coverage.

How much is car insurance in Panama City for teenagers?

Car insurance for teenagers costs $444 per 6 months. The rates for teen drivers are higher due to their lack of experience as drivers.

What's the average cost of car insurance in Panama City?

The average cost of car insurance is $1601 for a six-month policy. It will cost around $221 per month to insure your car in Panama City.

Is car insurance expensive in Panama City?

Car insurance can be expensive in Panama City if your rating factors are not favorable. However, with a clean driving record and good credit score, car insurance rates in Panama City can be affordable.

Cheapest Car Insurance Quotes in Panama City

Why you can trust Way?

How Much Is Car Insurance in Panama City

Avg. Car Insurance in Panama City

Avg. Car Insurance in Florida

National Average

Cheapest Car Insurance Companies in Panama City

1st place: Travelers

2nd place: State Farm

3rd place: Nationwide

Panama City Car Insurance Rates by Company

Cheap Car Insurance Companies in Panama City, FL

Way's key takeaways about car insurance in Panama City

High Rates Shouldn’t Drive You Out of Pocket.

Cheapest Minimum Liability Car Insurance in Panama City

Cheapest Liability Coverage in Panama City, FL

Cheapest Full Coverage Car Insurance in Panama City

Cheapest Full Coverage Car Insurance Quotes in Panama City, FL

Don't Let Hidden Costs Drive You Crazy

Average Car Insurance in Panama City by Rating Factor

I have a clean driving record. Why is my car insurance rate here in Panama City, FL increasing?

Car Insurance Premiums by Age in Panama City

Cheapest Car Insurance Companies Based on Age Group

Cheapest Car Insurance Rates for Teen Drivers in Panama City,FL

If you are in your twenties Travelers is the best choice for car insurance in Panama City.

Car Insurance Rates by Credit Score & Driving History

Cheapest Car Insurance Companies for Bad Credit

Escape the Trap of Rising Insurance Costs.

Car Insurance Rates with An Accident in Panama City

Cheapest Car Insurance Companies after an At-Fault Accident in Panama City

Panama City Car Insurance Rates by Violation

Panama City auto insurance quotes by violations

Your Wallet Deserves Better. Seriously.

Avoid Having A DUI On Your Driving Record.

Car Insurance Rates in Panama City after a DUI

Panama City car insurance quotes with a DUI

Cheapest car insurance after a speeding ticket

Cheapest Car Insurance in Panama City after Speeding ticket

Car Insurance Price Trends in Panama City, Florida

Average Car Insurance Cost in Panama City by ZIP Code

Frequently Asked Questions

Tired of Insane Auto Insurance Bills? Us Too!

Find Car Insurance Rates in Cities Near Panama City, FL

Car Insurance Rates by State in the USA (2025 Update)

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Data Sources