You have seen the captivating ads from car insurance companies like Allstate, Liberty Mutual, and Nationwide that claim the cheapest price, so drivers just need to choose the one with the flashiest ad, right?
Unfortunately, it’s just not that easy, as there are a ton of unknown aspects like whether you just need liability insurance, your financial responsibility, and if you have ever had a gap in coverage, that all help calculate your car insurance rates. We will attempt to cover the best ways to save money and will hopefully give the reader a solid foundation to find cheaper car insurance in Miami.
One of the more important factors that aid in calculating the annual cost of car insurance is where your residence is. Regions with more people or even just more weather-related claims tend to have more expensive car insurance rates, whereas more rural areas benefit from lower coverage costs.
The illustration below rates the most costly cities in Florida for a school permit in which to buy car insurance. Miami is ranked #3 costing $3,177 on average, which is about $265 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Hialeah | $3,523 |
| 2 | Miami Gardens | $3,245 |
| 3 | Miami | $3,177 |
| 4 | Miami Beach | $3,043 |
| 5 | Miramar | $2,683 |
| 6 | Tampa | $2,636 |
| 7 | West Palm Beach | $2,625 |
| 8 | Pompano Beach | $2,620 |
| 9 | Hollywood | $2,604 |
| 10 | Coral Springs | $2,549 |
| 11 | Davie | $2,548 |
| 12 | Fort Lauderdale | $2,500 |
| 13 | Pembroke Pines | $2,407 |
| 14 | Brandon | $2,392 |
| 15 | St. Petersburg | $2,196 |
| 16 | Clearwater | $2,194 |
| 17 | Orlando | $2,090 |
| 18 | Jacksonville | $2,040 |
| 19 | Spring Hill | $2,039 |
| 20 | Port St. Lucie | $1,994 |
| Find Cheaper Insurance Go | ||
Premium amounts are estimated as the specific area where the vehicle is garaged can lower or raise price quotes significantly.
Buying cost effective car insurance is not easy, and deciding which company has the best insurance rates for a school permit calls for a little more work.
Each insurer uses different criteria for setting prices, so we’ll go over the insurance companies with the most affordable rates in Florida.
Best Auto Insurance Prices for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $977 |
| 2 | Electric | $1,694 |
| 3 | Amica | $1,746 |
| 4 | Progressive | $1,829 |
| 5 | Travelers | $1,926 |
| 6 | Mercury | $1,973 |
| 7 | Allied | $2,004 |
| 8 | Esurance | $2,020 |
| 9 | State Farm | $2,047 |
| 10 | Auto-Owners | $2,085 |
| 11 | GEICO | $2,108 |
| 12 | 21st Century | $2,373 |
| 13 | Allstate | $2,388 |
| 14 | Windhaven Insurance | $2,627 |
| 15 | Safeco | $2,927 |
| 16 | MetLife | $2,958 |
| 17 | Hanover | $2,964 |
| 18 | Liberty Mutual | $3,039 |
| 19 | United Automobile | $3,527 |
| 20 | Direct General | $3,902 |
| Quote Your Rates Go | ||
USAA normally has some of the most affordable car insurance rates in Miami at around $977 a year. This is $1,471 less than the average price paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also are some of the more affordable Miami, FL car insurance companies.
As shown above, if you are insured with Travelers and switched to Electric, you could earn an annual savings of in the vicinity of $232. Customers with Mercury might save as much as $279 a year, and Allied insureds might cut rates by $310 a year.
Bear in mind that those premiums are averaged across all drivers and vehicles in Florida and do not factor in a vehicle location for a school permit. So the company that has the lowest price for you may not even be in the list above. That’s why you need to compare as many prices as possible using your own driver data and vehicle information.
Finding the highest-rated car insurance company can be challenging considering how many companies sell insurance in Miami. The rank data in the lists below may help you choose which providers to look at buying from.
The rankings below are only made up of the largest companies in America, so companies that focus mainly on Florida business are not included in these rankings. If you would like to check rates from these top insurers and more, click here.
Top 10 Major Auto Insurance Providers in Miami Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Major Auto Insurance Providers in Miami Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Drive responsibly or pay higher rates
The ideal way to receive low insurance rates in Miami for a learners permit is to drive attentively and avoid accidents and traffic citations. The example below shows how traffic citations and accidents can impact insurance costs for different insured age categories. The information is based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
In the previous example, the average cost of car insurance per year with no accidents and a clean driving record is $2,362. Receive one speeding ticket and the average cost increases to $2,667, an increase of $306 each year. Then add two accidents along with the one speeding ticket and the 12-month cost of insurance for a school permit jumps again to an average of $5,521. That’s an increase of $3,159, or $263 per month, just for being a little careless behind the wheel!
The benefit of shopping around
Miami insurance rates are impacted by many factors that can increase the price of your policy. Simply having another birthday, marrying your spouse, or getting a driving violation can produce rate changes that may make certain companies more affordable than others.
Not only may your risk profile change, but companies change the rates they charge in Florida multiple times each year to adjust for gains or losses. An unexpected high level of claims can cause high rates, while a profitable period may result in cheaper Miami car insurance rates.
The data below analyzes the cheapest car insurance in Miami, FL for a 45-year-old female driver with no accidents or violations, and a decent credit rating. If we look at prices based on her current rating profile, USAA may offer the lowest car insurance rates in Miami at $1,811 per year. This is $637 less than the average rate paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also make the list of the cheapest Miami, FL auto insurance companies.
The next chart shows rates after we give the driver in the first example an accident claim, a lower credit score, and a few traffic violations. Because each insurer uses their own method to set policy rates, analyzing rate quotes could result in a different list of cheap Miami auto insurance companies as shown below.
USAA now has the best insurance rate in Miami, FL with Mercury, Esurance, Auto-Owners, and State Farm now being in the top five. This illustrates why it is important to compare as many rates as possible to find cheap car insurance rates for a school permit. Insurance prices are calculated by many different factors and can change without notice, so the most economical option two years ago may now cost much more than other companies.
Ideas for finding economical auto insurance for a school permit
Lowering your rates is not difficult, and here are a few penny-pinching solutions that can help Miami drivers locate low-cost coverage.
- Pay cheaper rates with good credit scores
- Pay for small claims rather than turning them in to your insurance company
- Having at-fault accidents will increase rates
- Avoid getting citations and tickets
- Home or renters coverage can save on auto insurance
- Increase physical damage deductibles
- Compare rates regularly and switch companies to save money
The last tip is highly critical, as we hit on in this piece. Auto insurance rates in Miami change constantly, so drivers shouldn’t hesitate to buy a policy from a new company if a more affordable rate is found.
We understand brand loyalty, but it’s not a good idea if that dedication is costing money that could be used for better things. It only take a few minutes to shop around and find cheaper insurance for a school permit.