This article focuses on the development of a mathematical model of a cutting force that is applicable for coated and uncoated cutting tool inserts and aims to enable more accurate calculation of the cutting force. Two common PVD coatings, AlTiN and TiAlCrN, were used. Firstly, a mathematical model of the cutting force based on the specific cutting force and cutting area is proposed. This mathematical model considers the cutting speed and coating correction factor as well as the real cutting edge geometry, i.e., it includes both the straight and rounded parts of the cutting edge. For this proposed model, material constants for C45 steel, which was machined with uncoated inserts, were obtained. Before determining an equation for a coating correction factor and implementing it into the model, experimental cutting force data for coated and uncoated inserts were compared using a paired t-test. The result was that the difference between them was statistically significant. Their percentage difference was found to be up to 4%. The correction factor equation that was obtained and implemented into the mathematical model was applied to compare the calculated and experimental data of the coated inserts, also using a paired t-test. The result was that the difference between them was insignificant. Moreover, their percentage difference was found to be up to 0.6%.