How Much are Miami Car Insurance Rates for a Toyota RAV4?

Buying affordable auto insurance for a Toyota RAV4 in Florida depends on a lot of rating criteria such as whether the vehicle is new, your claims history, and if you have tickets or violations. Drivers pay on average $980 per year for RAV4 insurance, but that figure is a valuation calculated based on a 50-year-old married male driver with both comprehensive and collision coverage and $500 deductibles.

The issue with using an average estimated rate is the likelihood you may not be 50 years old (or even male), possibly single instead of married, and you don’t want the same coverages and limits as the example. This shows why the only real way to find the most affordable coverage for your Toyota is to do your own rate comparisons.

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Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Rate quotes do not factor in Miami location which can revise rates noticeably.

Establishing which companies quote the lowest-priced insurance rates for a Toyota RAV4 may require a little more effort in order to find the best price. Each company uses a different method for setting rates, so let’s take a look at the most budget-friendly insurance companies in Miami, FL.

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USAA has some of the most affordable car insurance rates in Miami at around $957 annually. This is $1,491 less than the average rate paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers would also be considered some of the more affordable Miami, FL car insurance companies.

In the above rates, if you currently buy coverage from Electric and switched to USAA, you might realize yearly savings of around $789. Policyholders with Progressive may save as much as $872 a year, and Travelers insureds might lower prices by $988 a year.

Bear in mind that those policy prices are averages across all types of drivers and the different vehicles they drive and and are not calculated with an exact location for a Toyota RAV4. So the auto insurance company that is best for you may not even be in the top 21 companies shown above. That underscores the importance of why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.

Rate comparison of full coverage and liability-only

Saving money on insurance is important to the majority of people, and a good way to save on the cost of insurance for a Toyota RAV4 is to only buy liability coverage. The illustration below compares insurance rates when comparing full coverage to liability only. The price estimates are based on no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are factored in.

Averaged for all ages 20 through 70, full coverage on your policy costs an additional $2,831 per year more than buying just liability insurance. That may make you wonder when is it a good idea to stop buying full coverage. There is no exact rule to stop buying full coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s pretend your vehicle’s settlement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $10,000 after paying your deductible. If you are currently paying more than $1,000 a year for physical damage coverage, then you may want to consider only buying liability coverage.

There are some cases where eliminating full coverage is not a good idea. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.

Why you should compare rates

Florida insurance rates are influenced by many factors that control the price you have to pay for coverage. Improving your credit rating, buying a home, or getting a speeding ticket can cause premium changes that may make certain companies cheaper than competitors.

In addition to those changes, companies change the rates they charge in Florida at least once a year to adjust for gains or losses. Heavier than normal losses can result in additional price hikes, while a better claims history may produce cheaper RAV4 insurance rates.

For example, the bar chart below shows which company has the cheapest car insurance in Miami, FL for a 45-year-old male driver with a clean driving record, no accidents, and excellent credit. When comparing rates based on his personal profile, USAA might offer the lowest car insurance rates in Miami at $1,829 annually. This is $619 less than the average rate paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are the rest of the most affordable Miami, FL auto insurance companies.

In this next rate comparison, we will give the driver in the first chart a chargeable accident, a little lower credit rating, and a traffic citation. Since every insurance provider uses their own method for setting prices, comparing quotes may now present a slightly different list of the cheapest car insurance companies in Miami as shown below.

USAA now has the lowest car insurance rate in Miami, FL with Allied, Esurance, State Farm, and GEICO now being in the top five. This example illustrates why Florida drivers need to compare lots of rates when trying to find cheap insurance rates for a Toyota RAV4. Prices are determined by many different factors and change frequently, so the best option when you last compared rates may now be quite expensive.

If you have coverage questions and would like to have a professional recommendation when trying to find lower insurance rates for a Toyota RAV4, the agents below are willing to provide answers to your questions and help you determine which is the best policy.

To find an agent closest to you, click the button at the bottom.

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