Cheapest Car Insurance Quotes in Panama City

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Panama City Car Insurance

^$ 55

/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 $1317 for a six-month policy, which is $394 lower than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $832, 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

$1317

Avg. Car Insurance in Florida

$1711

National Average

$1278

Cheapest Car Insurance Companies in Panama City

1st place: Travelers

At $832 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 $869 for a six-month policy, making it one of the cheapest to insure with.

3rd place: Nationwide

Nationwide offers auto insurance rates at $910 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 $832 for a six-month term. This is followed by State Farm, which has an average six-month premium of $869.

At the higher end of the spectrum, Farmers is the most expensive, with rates reaching $1839 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	$832	$140
State Farm	$869	$146
Nationwide	$910	$153
United Automobile Ins Group	$1052	$179
UAIC	$1162	$196
Progressive	$1372	$231
Mercury	$1985	$331
Allstate	$1999	$336
MetLife	$1157	$197
Farmers	$1839	$306

Key Takeaways

Way's key takeaways about car insurance in Panama City

The auto insurance costs in Panama City fall around $832 for six months.
The cheapest auto insurance company in Panama City is Mercury.
Teen drivers pay the highest rate in Panama City at $1063 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.

Mercury provides the cheapest minimum car insurance coverage in Panama City. Their Average 6 Month Premium is $330. Farmers is the most expensive at $507 for the same period.

Cheapest Liability Coverage in Panama City, FL

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Mercury	$330	$55
Nationwide	$366	$62
MetLife	$384	$64
AIG	$430	$73
United Automobile Ins Group	$554	$92
Travelers	$641	$108
State Farm	$947	$159
Progressive	$1582	$266
Allstate	$1775	$299
UAIC	$2072	$353
Patrons Insurance	$96	$16
Farmers	$507	$85

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 $140 per month and $832 for six months.

Cheapest Full Coverage Car Insurance Quotes in Panama City, FL

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Travelers	$832	$140
State Farm	$869	$146
Nationwide	$910	$153
United Automobile Ins Group	$1052	$179
UAIC	$1162	$196
Progressive	$1372	$231
Mercury	$1985	$331
Allstate	$1999	$336
MetLife	$1157	$197
Farmers	$1839	$306

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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

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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 $69 per month. At $6252 for a six-month premium, Farmers offers the most expensive rate for teen drivers.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Nationwide	$417	$69
AIG	$563	$95
Travelers	$1505	$253
State Farm	$1857	$313
United Automobile Ins Group	$2593	$432
UAIC	$2657	$452
Allstate	$3952	$665
Mercury	$4876	$821
Progressive	$7167	$1207
Farmers	$6252	$1063

Teen Car Insurance Rates in FL by Age

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 $498 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 Farmers, offering rates of around $2543 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Nationwide	$498	$85
Mercury	$544	$91
Direct General Insurance	$567	$96
UAIC	$1167	$194
Travelers	$1381	$233
Progressive	$3691	$615
Allstate	$3952	$672
State Farm	$4949	$825
Farmers	$2543	$433

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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 $526 and $672, respectively. Farmers is an expensive provider with an average six-month premium of $2566.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Nationwide	$526	$88
AIG	$672	$114
State Farm	$851	$143
Travelers	$865	$146
United Automobile Ins Group	$1368	$228
Mercury	$1413	$238
UAIC	$1528	$255
Progressive	$2520	$424
Allstate	$3494	$588
Farmers	$2566	$427

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 $723 for a six month policy. While the rate increases by $220 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	$1404	$234
One Med/PIP claim	$1404	$239
Not-at-fault accident	$1518	$253
Two Med/PIP claims	$1560	$265
One comp claim	$1582	$264
Child safety restraint	$1587	$270
Failure to wear a seat belt	$1587	$265
Driving without lights	$1592	$270
Failure to show documents	$1592	$266
Speeding 6 - 10 MPH over limit	$1624	$276
Improper passing	$1629	$271
Passing school bus	$1629	$277
Wrong way/wrong lane	$1629	$271
Failure to stop at a red light	$1633	$278
Failure to yield	$1633	$272
Illegal turn	$1633	$278
Cell phone violation	$1638	$273
Driving with expired registration	$1638	$279
Following too closely	$1638	$273
Texting while driving	$1642	$280
Two comp claims	$1679	$280
Driving too slowly	$1688	$287
Speeding in school zone	$1688	$281
Speeding 11 - 15 MPH over limit	$1692	$288
In 65 MPH zone	$1752	$292
Speeding 16 - 20 MPH over limit	$1752	$298
Speeding 21 - 25 MPH over limit	$1761	$293
Open container	$1779	$303
Operating a vehicle without permission	$1779	$296
At-fault accident - less than $1000	$1930	$328
At-fault accident - $1000-$2000	$1962	$327
At-fault accident - greater than $2000	$1962	$333
Racing	$2122	$353
DUI	$2127	$362
Refusal to submit to a chemical test	$2127	$354
Driving with a suspended license	$2164	$368
Reckless driving	$2209	$368
Leaving scene of an accident/hit and run	$2232	$380

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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 $494 for a six-month policy. However, it can be as expensive as $2091 with companies like Farmers.

Panama City car insurance quotes with a DUI

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
AIG	$494	$84
Travelers	$947	$159
State Farm	$1176	$198
Progressive	$1304	$219
Allstate	$1766	$297
UAIC	$2072	$345
Farmers	$2091	$348

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 $430. However, it can be as expensive as $2232 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	$430	$72
State Farm	$686	$116
Travelers	$846	$142
UAIC	$1167	$199
Allstate	$1262	$213
Progressive	$2964	$504
Farmers	$2232	$380

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 rose by $218 in March compared to $197 of February. In other words, there has been an increase by $21 when you compare March and February.

The average cost of liability insurance in the Panama City rose to $148 in March, compared to $64 in February. This represents an increase of $84 when comparing March and February.

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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 $1541 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	$1541	$258
32409	$1422	$238
32408	$1515	$254
32405	$1646	$276
32403	$1343	$225
32404	$1725	$289

Frequently Asked Questions

How much is car insurance in Panama City?

The car insurance in Panama City is $55 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 $140 per month for full coverage.

How much is car insurance in Panama City for teenagers?

Car insurance for teenagers costs $417 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 $1711 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 N/A 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