Buying affordable car insurance is hard enough, and finding out which company quotes the best car insurance rates for low credit scores involves a bit more work. Every insurance provider has their own formula for filing rates in each state, so let’s take a look at the car insurance companies with the overall best prices in Miami, FL.
Best Auto Insurance Prices in Florida
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $948 |
| 2 | Electric | $1,712 |
| 3 | Amica | $1,764 |
| 4 | Progressive | $1,793 |
| 5 | Mercury | $1,914 |
| 6 | Travelers | $1,926 |
| 7 | Allied | $1,985 |
| 8 | Esurance | $2,020 |
| 9 | GEICO | $2,108 |
| 10 | State Farm | $2,110 |
| 11 | Auto-Owners | $2,171 |
| 12 | Allstate | $2,317 |
| 13 | 21st Century | $2,397 |
| 14 | Windhaven Insurance | $2,653 |
| 15 | Safeco | $2,898 |
| 16 | MetLife | $2,988 |
| 17 | Hanover | $3,054 |
| 18 | Liberty Mutual | $3,131 |
| 19 | United Automobile | $3,422 |
| 20 | Direct General | $3,902 |
| Quote Your Rates Go | ||
USAA may have some of the best car insurance rates in Miami at around $948 each year. Electric, Amica, Progressive, and Mercury also qualify as some of the cheapest Miami, FL insurance companies.
As the example above demonstrates, if you buy coverage from Mercury and switched to Electric, you might see a yearly savings of in the vicinity of $202. Florida drivers with Travelers might save as much as $214 a year, and Allied insureds might reduce rates by $273 a year.
To find the cheapest rates for your vehicle, click here to start a quote or quote prices from the following companies.
These prices are averaged for all insureds and vehicles and do not factor in an exact location for low credit scores. So the car insurance company that is best suited for you may not even be in the top 21 companies in the list above. That emphasizes why you need to compare as many prices as possible using your own individual information.
One of the many factors that help determine the amount you pay each year for auto insurance is where your residence is. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with less crime or weather claims benefit from lower coverage costs.
The table below sorts the highest-priced areas in Florida for low credit scores in which to buy car insurance. Miami is ranked #2 with the annual price of $3,273 for the average policyholder, which is about $273 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Hialeah | $3,523 |
| 2 | Miami | $3,273 |
| 3 | Miami Gardens | $3,149 |
| 4 | Miami Beach | $3,013 |
| 5 | Miramar | $2,683 |
| 6 | Hollywood | $2,604 |
| 7 | West Palm Beach | $2,599 |
| 8 | Tampa | $2,558 |
| 9 | Coral Springs | $2,549 |
| 10 | Pompano Beach | $2,543 |
| 11 | Fort Lauderdale | $2,475 |
| 12 | Davie | $2,448 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,392 |
| 15 | St. Petersburg | $2,219 |
| 16 | Clearwater | $2,172 |
| 17 | Spring Hill | $2,060 |
| 18 | Jacksonville | $2,040 |
| 19 | Orlando | $2,008 |
| 20 | Port St. Lucie | $1,935 |
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Information shown are estimated as the specific area where the vehicle is garaged can decrease or increase premium rates significantly.
The diagram below illustrates how your deductible choice can influence premium costs when getting quotes for cheap insurance for low credit scores. The prices are based on a married female driver, comp and collision included, and no discounts are taken into consideration.
As shown above, a 40-year-old driver could cut expenses by $384 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $578 by selecting a $1,000 deductible. Even younger insureds, like the 20-year-old example, could roll back prices $952 or more just by choosing higher deductibles. If you make the decision to raise deductibles, it will now be necessary to have enough savings to satisfy the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Full coverage rates compared to liability-only
Saving money when shopping for car insurance is the goal of the majority of vehicle owners, and a great way to reduce the cost of insurance for low credit scores is to not pay for full coverage. The information below compares insurance costs with and without physical damage coverage. The costs are based on no violations or claims, $100 deductibles, single marital status, and no discounts are taken into consideration.
If all age groups are averaged, physical damage insurance costs $3,196 per year over having just liability coverage. Lot’s of drivers question if it’s worth it to buy full coverage. There is no written rule to exclude full coverage, but there is a broad guideline. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
Careless drivers pay higher rates
One of the best ways to obtain affordable car insurance prices in Miami for bad credit is to be a cautious driver and not get tickets or have accidents. The chart below demonstrates how citations and accidents can increase insurance rates for each different age category. The premiums are based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.
In the prior example, the average cost of car insurance in Florida per year with no accidents or violations is $1,654. Add in one speeding ticket and the average cost rises to $1,925, an increase of $271 each year. Then add two accidents along with the one speeding ticket and the yearly cost of car insurance for low credit scores jumps again to an average of $4,301. That’s an increase of $2,647, or $221 per month, just for not driving carefully!
If you like to have professional advice when trying to find the best insurance rates for bad credit, the agents below can help you make a decision which coverages you need.
To locate a Miami car insurance agency in your neighborhood, click the button following the list.
- Miami Insurance Agency
3313 NW 7th St – Miami, FL 33125 – (305) 541-4553 - Latin American Association-Insurance Agency
2550 NW 72nd Ave #318 – Miami, FL 33122 – (305) 477-1442 - Tadeo Insurance Agency, Inc.
9120 SW 40th St – Miami, FL 33165 – (305) 553-1760