The words “affordable” and “insurance” really shouldn’t be used in the same sentence, specifically when looking for the lowest insurance rates for real estate agents. To save some money, let’s get started by showing you some situations that determine car insurance prices, and see how we can help you slash the price of your next policy.
The type of vehicle to be insured is probably the biggest factor when comparing affordable car insurance for real estate agents. Vehicles with more horsepower, a lack of safety features, or high incidents of liability claims will cost more to insure than safer models. The information below ranks coverage rates for the cheaper automobiles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $2,900 |
| Honda CR-V EX 4WD | $2,905 |
| Jeep Wrangler Sport 4WD 2-Dr | $2,939 |
| Volkswagen Jetta S 2.5 Station Wagon | $3,072 |
| Toyota Tacoma 2WD | $3,286 |
| Nissan Altima 2.5 4-Dr Sedan | $3,351 |
| Chevrolet Malibu Hybrid | $3,357 |
| Honda Accord LX 4-Dr Sedan | $3,474 |
| Toyota Prius | $3,596 |
| Nissan Rogue S AWD | $3,606 |
| Hyundai Sonata SE 4-Dr Sedan | $3,772 |
| Ford Edge SE 2WD | $3,810 |
| GMC Sierra Denali Crew Cab 2WD | $3,833 |
| Toyota RAV4 Sport 2WD | $3,844 |
| Ford Explorer XLT 2WD | $3,894 |
| Dodge Grand Caravan Crew | $3,917 |
| Honda Civic VP 4-Dr Sedan | $3,970 |
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rate information does not factor in specific Miami, FL garaging location which can decrease or increase premium rates greatly.
Based upon these rates, cars like the Ford Escape, Honda CR-V, Jeep Wrangler, Volkswagen Jetta, and Toyota Tacoma will definitely be a few of the most affordable vehicles to insure for realtors.
Trying to find low-cost car insurance is challenging, and determining which company quotes the lowest-priced insurance rates for real estate agents involves a little more work. Each insurer uses their own calculation for determining rates, so let’s begin by examining the insurance companies with the overall cheapest rates in Miami.
Keep in mind that Florida insurance rates are impacted by many things which can substantially change the price you pay. Simply having another birthday, having a teenage driver, or having an at-fault accident can trigger rate changes resulting in some companies being cheaper than competitors.
Compare Cheap Insurance Quotes for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $986 |
| 2 | Electric | $1,694 |
| 3 | Amica | $1,746 |
| 4 | Progressive | $1,793 |
| 5 | Travelers | $1,869 |
| 6 | Mercury | $1,992 |
| 7 | Allied | $2,004 |
| 8 | Esurance | $2,040 |
| 9 | State Farm | $2,068 |
| 10 | GEICO | $2,108 |
| 11 | Auto-Owners | $2,171 |
| 12 | Allstate | $2,340 |
| 13 | 21st Century | $2,397 |
| 14 | Windhaven Insurance | $2,549 |
| 15 | MetLife | $2,870 |
| 16 | Hanover | $2,964 |
| 17 | Safeco | $3,016 |
| 18 | Liberty Mutual | $3,039 |
| 19 | United Automobile | $3,527 |
| 20 | Infinity | $4,045 |
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USAA generally has some of the cheapest car insurance rates in Miami at around $986 annually. This is $1,462 less than the average policy premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also are some of the best Miami, FL insurance companies.
As shown above, if you are currently insured with Electric and switched to USAA, you might see an annual premium reduction of about $708. Customers with Amica might save as much as $760 a year, and Progressive customers might cut rates by $807 a year.
If you want to see how much you could save, click here to begin a quote or visit any of the companies below.
Understand that those policy prices are averaged across all drivers and vehicles in Florida and and are not figured with a specific location for real estate agents. So the auto insurance company that has the cheapest rates for you may not even be in the top 21 companies shown above. That point stresses why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.
For realtors, one of the more important things that are looked at to determine car insurance rates is where your car is garaged. Cities with larger populations tend to have more expensive car insurance rates, whereas areas that tend to be more rural benefit from lower coverage costs.
The table below shows the priciest cities in Florida for real estate agents to buy car insurance in. Miami is ranked at #3 with an annual cost of $3,145 for the average policyholder, which is around $262 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Hialeah | $3,630 |
| 2 | Miami Gardens | $3,277 |
| 3 | Miami | $3,145 |
| 4 | Miami Beach | $3,013 |
| 5 | West Palm Beach | $2,679 |
| 6 | Miramar | $2,629 |
| 7 | Pompano Beach | $2,620 |
| 8 | Hollywood | $2,604 |
| 9 | Fort Lauderdale | $2,576 |
| 10 | Tampa | $2,558 |
| 11 | Coral Springs | $2,549 |
| 12 | Pembroke Pines | $2,505 |
| 13 | Davie | $2,473 |
| 14 | Brandon | $2,368 |
| 15 | St. Petersburg | $2,263 |
| 16 | Clearwater | $2,260 |
| 17 | Spring Hill | $2,039 |
| 18 | Jacksonville | $2,020 |
| 19 | Orlando | $2,008 |
| 20 | Port St. Lucie | $1,994 |
| 21 | Lakeland | $1,883 |
| 22 | Cape Coral | $1,860 |
| 23 | Palm Bay | $1,803 |
| 24 | Tallahassee | $1,801 |
| 25 | Gainesville | $1,646 |
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Rate information is estimated as the specific geographic location can lower or raise price quotes greatly.
How to get discounts on Miami insurance
Insurance providers that sell policies for real estate agents could also offer discounts that can lower rates by as much as 35% or more if you meet certain criteria. Large insurance companies and their offered discounts are:
- State Farm has savings for driver’s education, multiple policy, Steer Clear safe driver discount, multiple autos, safe vehicle, and good driver.
- Progressive offers premium reductions for continuous coverage, multi-policy, multi-vehicle, online signing, good student, and online quote discount.
- Progressive discounts include multi-vehicle, online signing, good student, online quote discount, homeowner, and multi-policy.
- MetLife may have discounts that include accident-free, multi-policy, defensive driver, good driver, claim-free, and good student.
- Farm Bureau may offer discounts for driver training, renewal discount, 55 and retired, multi-policy, multi-vehicle, safe driver, and youthful driver.
- GEICO includes discounts for defensive driver, air bags, membership and employees, daytime running lights, and five-year accident-free.
- SAFECO has discounts for teen safe driver, teen safety rewards, drive less, homeowner, and bundle discounts.
The illustration below compares yearly insurance costs with and without policy discounts. The prices are based on a male driver, no violations or accidents, Florida state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with multiple vehicle, marriage, multiple policy, defensive driving course, safe-driver, and vehicle safety discounts applied. When drivers take advantage of discounts, the average amount saved each year on insurance for real estate agents is 28% or $827.
The chart below illustrates how your deductible choice can raise or lower premium costs when quoting cheap insurance for real estate agents. The premiums are based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
In the chart above, a 50-year-old driver could pocket $344 a year by increasing from a $100 deductible to a $500 deductible, or save $518 by switching to a $1,000 deductible. Even younger insureds, like the Age 20 chart data, have the ability to save up to $1,126 or even more by using a higher deductible. When using a larger deductible, it’s a good idea to have emergency funds available to satisfy the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Driving violations and accidents
The common sense way to receive good insurance prices for realtors is to drive cautiously and avoid accidents and traffic violations. The diagram below shows how traffic citations and at-fault collisions can drive up annual premium costs for different age groups. The prices are based on a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.
In the previous example, the average cost of car insurance in Florida per year with no violations or accidents is $1,778. Get written up for two speeding tickets and the average cost hikes up to $2,517, an increase of $739 each year. Then throw in one accident along with the two speeding tickets and the annual cost of insurance for real estate agents increases to an average of $3,284. That’s an increase of $1,505, or $125 per month, just for a couple of infractions!
Low rates can quickly become overpriced
Miami, FL insurance rates are impacted by many things which can significantly increase or decrease the cost of having a policy. Improving your credit score, having a claim, or getting a driving violation can trigger changes in premium that can cause some rates to be cheaper than before.
In addition, insurers change the rates they charge in Florida as often as every quarter in order to be able to pay unexpected claims. Significantly higher losses can cause higher prices, while profitable underwriting may produce lower-priced Miami car insurance rates.
To illustrate this example, the chart below demonstrates which company has the cheapest car insurance in Miami, FL for a 45-year-old male driver with a clear driving record, no claims, and a good credit rating. Based on his current risk factors, USAA might offer the best car insurance rates in Miami at $1,811 per year. This is $637 less than the average price paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are also on the list of the cheapest Miami, FL auto insurance companies.
Now let’s give the driver in the first example a chargeable accident, a lower credit score, and an imperfect driving record. Because every insurance company has a unique approach for setting prices, getting updated rate quotes could now result in a different list of cheap Miami auto insurance companies as shown below.
USAA now has the lowest car insurance rate in Miami, FL with Allied, Esurance, Auto-Owners, and State Farm completing the list. This example shows why it is critical to compare many different companies to get the best insurance quotes for real estate agents. Insurance prices can be altered by many different factors and can change substantially, so the cheapest rate six months ago may now be wasting a lot of money.