It would sure be easy if we could just give you the name of the one company in Miami that has the best car insurance rates in Florida. Unfortunately, it’s not that simple as there are a whole bunch of unknown elements like the area you live in, whether you are male or female, and how experienced of a driver you are, that all factor into the price you pay. Car insurance is kind of a dry topic, but this article will explain the best ways to find cheap car insurance and will hopefully give you a jump start in finding the best auto insurance in Miami.
For safe drivers, one of the more important things that are looked at to determine the annual cost of car insurance is where you normally keep your vehicle. Areas with a lot of weather claims or more people tend to have more expensive car insurance rates, whereas less populated areas have the benefit of cheaper auto insurance prices.
The following table lists the most costly cities in Florida for good drivers to purchase car insurance in. Miami comes in at #2 with the yearly price of $3,273 for car insurance, which is approximately $273 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Hialeah | $3,630 |
| 2 | Miami | $3,273 |
| 3 | Miami Gardens | $3,245 |
| 4 | Miami Beach | $2,953 |
| 5 | West Palm Beach | $2,679 |
| 6 | Hollywood | $2,630 |
| 7 | Miramar | $2,603 |
| 8 | Pompano Beach | $2,595 |
| 9 | Tampa | $2,532 |
| 10 | Pembroke Pines | $2,505 |
| 11 | Fort Lauderdale | $2,500 |
| 12 | Coral Springs | $2,474 |
| 13 | Davie | $2,473 |
| 14 | Brandon | $2,392 |
| 15 | St. Petersburg | $2,196 |
| 16 | Clearwater | $2,172 |
| 17 | Spring Hill | $2,102 |
| 18 | Orlando | $2,069 |
| 19 | Jacksonville | $1,980 |
| 20 | Port St. Lucie | $1,935 |
| 21 | Cape Coral | $1,860 |
| 22 | Lakeland | $1,845 |
| 23 | Tallahassee | $1,801 |
| 24 | Palm Bay | $1,750 |
| 25 | Gainesville | $1,630 |
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Annual rates are estimated as specific location information can change coverage rates greatly.
Finding dependable, cost effective insurance is not easy, and deciding which company offers the most affordable insurance rates for good drivers will require even more work. Each insurance company uses a little different formula for determining rates in each state, so let’s begin by examining the overall cheapest insurance companies in Florida.
Cheap Insurance Rates for Good Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $957 |
| 2 | Electric | $1,694 |
| 3 | Amica | $1,746 |
| 4 | Progressive | $1,847 |
| 5 | Allied | $1,926 |
| 6 | Travelers | $1,945 |
| 7 | Mercury | $1,992 |
| 8 | Auto-Owners | $2,085 |
| 9 | Esurance | $2,102 |
| 10 | GEICO | $2,108 |
| 11 | State Farm | $2,131 |
| 12 | Allstate | $2,388 |
| 13 | 21st Century | $2,469 |
| 14 | Windhaven Insurance | $2,575 |
| 15 | MetLife | $2,958 |
| 16 | Safeco | $3,016 |
| 17 | Hanover | $3,024 |
| 18 | Liberty Mutual | $3,101 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $3,902 |
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USAA may offer some of the most affordable car insurance rates in Miami at around $957 per year. Electric, Amica, Progressive, and Allied are also some of the cheaper Miami, FL auto insurance companies.
In the above example, if you buy coverage from Progressive and switched to Electric, you could see savings of in the vicinity of $153. Drivers with Allied may save as much as $232 a year, and Travelers insureds might lower prices by $251 a year.
To see if your current coverage is too expensive, click here to begin a quote or visit several of the following companies.
Remember that these policy rates are averages across all drivers and vehicles in Florida and do not take into consideration a specific location for good drivers. So the insurer that is most affordable for your situation may not even be in the list above. That points out the importance of why you need to get rate quotes from many companies using your own specific driver information and vehicle.
The type of vehicle requiring insurance is probably the biggest factor when looking for the cheapest coverage for good drivers. Vehicles with higher performance, poor crash test ratings, or a track record of large liability claims will cost substantially more to insure than more economical and safe models. The next table ranks auto insurance costs for some of the most cost-effective vehicles to insure in Florida.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Odyssey LX | $3,243 |
| Toyota Prius | $3,267 |
| Toyota Tacoma 4WD | $3,310 |
| Ford Explorer XLT 4WD | $3,317 |
| Ford F-150 XLT Super Cab 4WD | $3,376 |
| Ford Escape XLS 4WD | $3,380 |
| Ford Edge SE AWD | $3,423 |
| Chevrolet Malibu Hybrid | $3,489 |
| Toyota RAV4 Limited 4WD | $3,497 |
| Honda CR-V LX 2WD | $3,617 |
| Toyota Corolla LE | $3,672 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $3,715 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $3,738 |
| Chevrolet Equinox LTZ 2WD | $3,744 |
| Honda Accord EX-L 4-Dr Sedan | $3,933 |
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Rates do not factor in Miami, FL location which can change premiums considerably.
Looking at the numbers, cars like the Honda Odyssey, Toyota Prius, and Toyota Tacoma are most likely to be a few of the more affordable vehicles to insure for safe drivers.
The example below shows how choosing a deductible can affect insurance premiums when getting quotes for cheap insurance for good drivers. The information is based on a single male driver, full coverage, and no discounts are applied to the premium.
The chart above illustrates that a 30-year-old driver could lower their policy premium by $384 a year by increasing from a $100 deductible to a $500 deductible, or save $582 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old example, can save $1,126 each year by selecting a higher deductible. If you do decide to increase your deductibles, it will be important to have spare funds to offset the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
How violations and accidents impact rates
The easiest method to receive the most affordable insurance rates in Florida for safe drivers is to be an attentive driver and have a clean driving record. The diagram below shows how speeding tickets and accidents drive up car insurance costs for each age group. The prices are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of car insurance in Miami per year with no accidents and a clean driving record is $1,672. Get two speeding tickets and the average cost jumps to $2,301, an increase of $629 each year. Now get two accidents along with the two speeding tickets and the yearly cost of insurance for good drivers goes up to an average of $4,762. That’s an increase of $3,089, or $257 per month, just for being a less-than-perfect driver!
Here’s why price comparisons are so important
Florida insurance rates are calculated based on many things that may substantially change the cost of your policy. Improving your credit rating, having a claim, or getting a reckless driving citation may cause policy rate changes that can cause some rates to be cheaper in comparison to the competition.
Not only may things change on your end, but car insurance companies amend pricing without warning to adjust for gains or losses. A period of increased losses may result in additional premium costs, while a better claims history can result in lower-priced Miami car insurance rates.
The data below shows a variety of companies that have the cheapest car insurance in Miami, FL for a 45-year-old male driver with a good driving record, no prior claims, and a good credit rating. If we look at prices based on his personal profile, USAA might quote the lowest car insurance rates in Miami at $1,904 each year. This is $544 less than the average policy premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are also included in the best Miami, FL auto insurance companies.
Now let’s give the driver from above an at-fault accident, a lower credit rating, and a speeding citation. Since every car insurance company has their own guidelines to determining premium rates, comparing prices may now present a slightly different list of the cheapest companies as shown below.
USAA now has the lowest car insurance rate in Miami with Allied, State Farm, Esurance, and Auto-Owners also having competitive pricing. This example shows why it is critical to shop around with many companies to get the most affordable car insurance rates for good drivers.
Car insurance prices are made up of many factors and change dramatically, so the best company the last time you compared rates may now be one of the higher cost companies.