The words “bargain” and “insurance” really should not be used together, specifically when you are trying to find the cheapest auto insurance for 20 year old women. Because it’s not cheap, let’s get started by showing you some things that have an impact on insurance prices, and see if we can help you reduce the price of the next policy you buy.
For young women, one of the more important components that determine car insurance rates is where you keep your car in Miami. Areas with a lot of weather claims or more people are more likely to pay higher prices, whereas more rural areas have the benefit of cheaper car insurance.
The illustration below lists the most expensive areas in Florida for 20 year old women in which to purchase auto insurance. Miami is listed at #3 with a yearly premium of $3,145 for the average insurance policy, which is about $262 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Hialeah | $3,523 |
| 2 | Miami Gardens | $3,149 |
| 3 | Miami | $3,145 |
| 4 | Miami Beach | $2,923 |
| 5 | Miramar | $2,683 |
| 6 | West Palm Beach | $2,625 |
| 7 | Hollywood | $2,604 |
| 8 | Coral Springs | $2,549 |
| 9 | Pompano Beach | $2,543 |
| 10 | Tampa | $2,532 |
| 11 | Fort Lauderdale | $2,475 |
| 12 | Davie | $2,473 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,368 |
| 15 | St. Petersburg | $2,286 |
| 16 | Clearwater | $2,260 |
| 17 | Spring Hill | $2,123 |
| 18 | Orlando | $2,069 |
| 19 | Jacksonville | $2,020 |
| 20 | Port St. Lucie | $1,994 |
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Rates are comparative as the specific area where the vehicle is garaged can revise premiums greatly.
The vehicle model you are insuring is one of the main factors that determines if you can find low-cost car insurance for 20 year old women. Vehicles with high performance, a lack of advanced safety features, or a track record of large liability claims will cost more to insure than safer models. The information below ranks auto insurance costs for a handful of the most affordable automobiles to insure in Florida.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $6,241 |
| Ford Escape XLS 4WD | $6,246 |
| Honda Accord LX 4-Dr Sedan | $6,241 |
| Honda CR-V EX 4WD | $6,337 |
| Toyota Prius | $6,826 |
| Honda Odyssey LX | $6,902 |
| Ford Edge SE 2WD | $6,912 |
| Dodge Grand Caravan CV | $6,998 |
| Ford F-150 XLT Super Cab 2WD | $7,007 |
| Chevrolet Impala LS | $7,300 |
| Ford Focus S 4-Dr Sedan | $7,308 |
| Chevrolet Silverado LT Extended Cab 4WD | $7,395 |
| Nissan Altima 2.5 4-Dr Sedan | $7,402 |
| Toyota Camry LE | $7,395 |
| Chevrolet Equinox LT AWD | $7,404 |
| Toyota RAV4 4WD | $7,395 |
| Chevrolet Malibu Hybrid | $7,405 |
| Ford Explorer Limited AWD | $7,487 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $7,705 |
| Toyota Tacoma X-Runner 2WD | $7,797 |
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Table data assumes single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in zip code location which can affect premiums greatly.
Based upon the table data, we can expect cars like the Hyundai Elantra, Ford Escape, Honda Accord, Honda CR-V, and Toyota Prius will definitely be the less-costly vehicles to insure for young women. Auto insurance rates will tend to be higher just due to the fact that there is more liability exposure for 20 year old women, but generally speaking those particular vehicles will probably have the lowest insurance prices compared to other types of vehicles.
Difference between full coverage and liability only rates
Reducing premiums for auto insurance is probably important to the majority of vehicle owners, and an effective way to reduce the cost of insurance for 20 year old women is to not buy full coverage. The chart below illustrates the comparison of premium costs with full coverage and liability only. The premium estimates are based on no claims or driving citations, $500 deductibles, single marital status, and no discounts are taken into consideration.
On average, physical damage coverage on your policy costs an additional $2,619 per year more than just buying liability insurance. At some point, almost every driver questions if buying full coverage is a waste of money. There is no set guideline to drop comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your vehicle’s settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $7,000 after you pay the deductible. If premium cost is more than $700 annually to have full coverage, then you might consider buying liability only.
There are a few situations where buying only liability insurance is not a good plan. If you haven’t satisfied your loan, you have to keep full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not buy liability only.
Insuring your vehicle with a highly-rated insurer is hard considering how many companies there are to choose from in Florida. The company ratings listed below can help you pick which coverage providers you want to consider when trying to find the cheapest insurance for 20 year old women. The rankings below are only made up of the largest companies in America, so companies that have a smaller presence are not included in these rankings.
Top 10 Large Auto Insurance Companies Overall in Miami
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Illustration showing the impact of accidents and violations
The ideal way to earn low auto insurance prices in Miami for young women is to be an attentive driver and have a clean driving record. The diagram below highlights how speeding tickets and at-fault fender-benders impact annual premium costs for different age groups. The information is based on a married male driver, full coverage, $500 deductibles, and no policy discounts are applied.
The chart shows that the average cost of car insurance per year with no accidents or violations is $1,672. Get one speeding ticket and the average cost increases to $1,921, an increase of $249 each year. Now add two accidents along with the one speeding ticket and the 12-month cost of auto insurance for 20 year old women increases to an average of $4,171. That’s an increase of $2,499, or $208 per month, just for a couple of infractions!
How to find economical car insurance for 20 year old women
The list below shows many money-saving solutions that can help you get low-cost coverage.
- Increase your physical damage deductibles
- Try to pay small claims out-of-pocket
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Good credit scores may make rates cheaper
- Insure your home and auto with the same company
- Staying accident-free helps keep rates low
- Compare rate quotes often
The last idea is especially significant, as was affirmed in this article. Car insurance rates fluctuate constantly, so don’t be hesitant to buy a different policy if you find a cheaper price.
Sticking with a specific company is fine, but it’s not a good idea if that loyalty results in overpaying a fortune every year. In less than five minutes you could compare prices to find cheaper insurance for 20 year old women in Miami.