You have most likely seen the commercials from car insurance companies like Liberty Mutual and GEICO guaranteeing the cheapest rates, so drivers just need to choose any of them, right?
Unfortunately, it’s not that simple as there are a whole bunch of unknown factors like any driving violations you may have, the crime level of your neighborhood, the amount of liability coverage you want, and how many years you have been driving. In this article, we will teach you about the types of things that cause high car insurance rates and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.
One of the more important criteria that aid in calculating the cost of insurance is where you keep your vehicle in Miami. Areas with a lot of weather claims or more people tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.
The table below lists the most expensive places in Florida for 20 year old guys in which to buy car insurance. Miami is ranked at #2 with the annual price of $3,241 for the average insurance policy, which is around $270 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Hialeah | $3,488 |
| 2 | Miami | $3,241 |
| 3 | Miami Gardens | $3,181 |
| 4 | Miami Beach | $3,043 |
| 5 | Miramar | $2,709 |
| 6 | West Palm Beach | $2,679 |
| 7 | Tampa | $2,610 |
| 8 | Hollywood | $2,604 |
| 9 | Pompano Beach | $2,595 |
| 10 | Coral Springs | $2,549 |
| 11 | Davie | $2,523 |
| 12 | Fort Lauderdale | $2,500 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,298 |
| 15 | St. Petersburg | $2,196 |
| 16 | Clearwater | $2,194 |
| 17 | Spring Hill | $2,102 |
| 18 | Orlando | $2,008 |
| 19 | Jacksonville | $1,980 |
| 20 | Port St. Lucie | $1,935 |
| 21 | Cape Coral | $1,841 |
| 22 | Lakeland | $1,827 |
| 23 | Tallahassee | $1,801 |
| 24 | Palm Bay | $1,786 |
| 25 | Gainesville | $1,646 |
| Find the Best Rates Go | ||
Rates are estimated as specific Miami garaging address can alter premiums substantially.
Figuring out which company quotes the lowest-priced auto insurance rates for 20 year old guys will require a little more work in order to find a policy that fits your budget. Each insurer has a proprietary formula to determine premium rates, so we’ll go over the overall cheapest auto insurance companies in Miami, FL.
It’s important to understand that Miami auto insurance rates are based on many factors that will increase or decrease the price you pay. Simply turning a year older, adding a teenager to your policy, or getting a speeding ticket may prompt premium changes that can cause some rates to be cheaper than others.
Find Cheaper Auto Insurance for Men Age 20
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $948 |
| 2 | Amica | $1,694 |
| 3 | Electric | $1,712 |
| 4 | Progressive | $1,793 |
| 5 | Travelers | $1,926 |
| 6 | Mercury | $1,973 |
| 7 | Allied | $1,985 |
| 8 | State Farm | $2,068 |
| 9 | Esurance | $2,082 |
| 10 | GEICO | $2,150 |
| 11 | Auto-Owners | $2,171 |
| 12 | 21st Century | $2,373 |
| 13 | Allstate | $2,411 |
| 14 | Windhaven Insurance | $2,627 |
| 15 | MetLife | $2,870 |
| 16 | Hanover | $2,934 |
| 17 | Safeco | $2,987 |
| 18 | Liberty Mutual | $3,039 |
| 19 | United Automobile | $3,562 |
| 20 | Direct General | $3,902 |
| Get Personalized Rates Go | ||
USAA offers some of the cheapest car insurance rates in Miami at around $948 annually. Amica, Electric, Progressive, and Travelers would also make the list of some of the cheaper Miami, FL car insurance companies.
In the above rates, if you currently have a policy with Progressive and switched to Amica, you might realize yearly savings of in the neighborhood of $99. Florida drivers with Travelers may save as much as $232 a year, and Mercury customers might reduce prices by as much as $279 a year.
To see how much you can save, click here to get quotes or visit several of the following companies.
Be aware that those rates are averages across all insureds and vehicles and do not factor in an exact location for 20 year old guys. So the company that has the cheapest price for you may not even be in the list above. That underscores the importance of why you need to get quotes using your own driver data and vehicle information.
Liability only or full coverage
Reducing the cost of auto insurance is important to the majority of people, and an easy way to find cheaper insurance for 20 year old guys is to not buy full coverage. The information below compares car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Florida. Data assumes no claims or driving violations, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
If the expense is averaged for all age categories, full coverage costs an additional $2,330 per year more than just buying liability only. At some point, every insured wonders if you should buy full coverage at all. There isn’t a written rule for excluding comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,500 after the deductible is paid. If premium cost is more than $650 a year for full coverage, then it’s probably a good time to buy liability coverage only.
There are some circumstances where dropping full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Get discounts on Miami car insurance rates
Car insurance companies that offer coverage for 20 year old guys could also offer premium discounts that can lower rates by 30% or more if you can meet the requirements. A list of companies and their possible discounts are shown below.
- Farm Bureau policyholders can earn discounts including youthful driver, renewal discount, multi-policy, multi-vehicle, and 55 and retired.
- State Farm offers discounts for safe vehicle, Steer Clear safe driver discount, good driver, good student, Drive Safe & Save, student away at school, and defensive driving training.
- Progressive may include discounts for continuous coverage, good student, multi-policy, homeowner, multi-vehicle, online quote discount, and online signing.
- Allstate may have discounts that include safe driver, eSmart discount, FullPay discount, good payer, and early signing.
- Nationwide has savings for business or organization, multi-policy, family plan, accident-free, and anti-theft.
- MetLife discounts include multi-policy, good driver, claim-free, accident-free, defensive driver, and good student.
The chart below shows the difference between yearly insurance costs with and without discounts applied to the rates. The rate quotes are based on a female driver, a clean driving record, no at-fault accidents, Florida state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with vehicle safety, good student, continuous coverage, anti-theft, passive restraint, and paid-in-full discounts applied. With discounts applied, the average amount saved each year on auto insurance for 20 year old guys is 21% or $601.
How to find cheaper insurance for 20 year old guys
It’s not impossible to find cheaper rates, and here are some of the recommended thrifty ideas that can help you quote cheap auto insurance.
- Safer vehicles generally have cheaper insurance rates
- Do not waste money insuring older vehicles for full coverage
- Tickets and violations raise rates
- Increase your comprehensive and collision deductibles
- Clean up your credit rating
- Drive attentively and avoid accidents
- Compare rate quotes often
The last suggestion is notably significant, as was noted in this write-up. Rates in Miami adjust often, so drivers shouldn’t be resistant to switch to a new company if you find a better deal. We understand brand loyalty, but we do not recommend it if that stubbornness costs you hundreds of dollars year after year. It only take a few minutes to compare rates to find cheaper auto insurance for 20 year old guys.
The professional agents shown below are willing to aid you in deciding which car insurance policy is best, since some people have coverage questions and would like to have some professional guidance when buying car insurance for 20 year old guys. It can be complicated to find the best policy on your own, so getting advice from a licensed Florida insurance agent can give you satisfaction knowing you have enough protection.
To locate an agency close to where you live, click the button link following the list.
All Security Insurance Agency, Inc.
373 N Royal Poinciana Blvd – Miami Springs, FL 33166 – (305) 887-9544
Oliva Insurance Agency Inc
370 Miracle Mile – Miami, FL 33134 – (305) 270-1447
Tropical Insurance
8700 W Flagler St # 230 – Miami, FL 33174 – (305) 221-2400