Best Cheap Car Insurance Companies in Miami, Fla.
Geico, State Farm, AIG, Travelers and Mercury are our recommended choices for car insurance coverage in Miami. These companies provide rates lower than the minimum- and full-coverage averages for the city. Additionally, they have good customer service reputations and provide first-rate insurance products.
Keep reading: Cheap Car Insurance
Unless stated otherwise, the following cost tables show average car insurance rates for the driving profile of a 35-year-old married driver with good credit and a clean driving history.
How Much Is Car Insurance in Miami, Fla.?
Our data shows that the average cost of car insurance for minimum-coverage in Miami is about $186 per month or $2,226 per year. This is about 256% more than the national average of $52 per month or $625 per year. Similarly, full-coverage car insurance costs $386 per month or $4,636 per year on average, which is about 131% more expensive than the national average of $167 per month or $2,008 per year for full coverage.
Cheapest Liability Car Insurance in Miami, Fla.
Geico offers the cheapest liability insurance with average rates of $59 per month or $712 per year. State Farm is the second-cheapest option in Miami with average rates of $105 per month or $1,255 per year.
Liability coverage is the minimum coverage required by the state of Florida. According to Florida law, all drivers must either meet or exceed the following minimum car insurance requirements:
Cheapest Full-Coverage Car Insurance in Miami, Fla.
A full-coverage car insurance policy can be pricey in Miami. Full-coverage policies include liability plus comprehensive coverage and collision coverage, which protect against damage to your vehicle in a variety of situations. Geico is the cheapest full-coverage option with average rates of $159 per month or $1,906 per year.
Miami Car Insurance Quotes by Driver Profile
Auto insurance premiums are determined by many components of a Miami driver’s profile, from their age, to their traffic history to their ZIP code. Some providers are cheaper for drivers with DUIs, while others are more affordable options for younger motorists who’ve just gotten their drivers’ licenses.
That’s why some drivers may find better rates than you at the same company, and vice versa. This section will look at the average auto insurance expenses for different driving profiles in Miami, Fla.
Miami Car Insurance Cost by Age
Teen drivers get the highest auto insurance rates for their increased likelihood of being involved in accidents or breaking traffic laws. Our data shows 16-year-olds pay about $626 per month or $7,510 per year for car insurance in Miami.
The cost of auto insurance gradually goes down as a person moves into their 20s, 30s and 40s. The table below illustrates the average minimum-coverage car insurance expenses in Miami for various age groups.
Cheapest Car Insurance in Miami, Fla.: Teen Drivers
Car insurance for teens is expensive, but some providers tend to be more affordable than others. Our data shows Geico is the cheapest car insurance company for teen drivers with minimum-coverage rates as low as $170 per month or $2,046 per year. State Farm, Travelers and AIG also offer affordable premiums for Miami teens.
Miami Car Insurance Cost by Credit Score
In Florida and most other states, your credit history can be a factor in how much you pay for auto insurance. If you don’t have the best credit score, you’ll likely get higher-than-desired premiums. With a good credit history and a clean driving record, you could end up paying less than average.
Cheapest Car Insurance in Miami, Fla.: Poor Credit
Our rate data shows Geico is the cheapest option for car insurance for bad credit in Miami. The company offers minimum-coverage policies to drivers with poor credit for rates of $114 per month or $1,362 per year. This is 10% more than the overall state average for minimum coverage for good credit.
Miami Car Insurance Cost by Driving Record
You’ll likely pay much higher insurance premiums in the near future if you’ve been found speeding, driving under the influence or at fault for an accident. On average, speeding can increase your rates by 126%, an at-fault accident by 159% and a DUI by 131%.
But how much your insurance rises will depend on the company that insures you and your car. If you’re a Miami driver with too many traffic violations or accidents on your record, Geico is your best bet for finding affordable coverage. The table below shows average rates by company for drivers who have either a speeding ticket, accident or DUI on their record.
Keep reading: Insurance rates for high-risk drivers
Cheapest Car Insurance in Miami, Fla.: Speeding Ticket
According to our data, Geico offers the cheapest rates to drivers who have a speeding ticket on their records — $108 per month or $1,302 per year. State Farm follows close behind with an average monthly rate of $115, while AIG, Travelers and Allstate round out the top five options for cheap speeding ticket car insurance in Miami.
Cheapest Car Insurance in Miami, Fla.: At-Fault Accident
Miami drivers who get into car accidents will find stronger increases in their auto insurance rates than drivers that have just gotten speeding tickets. Geico and State Farm are the cheapest options here with average rates of about $88 per month and $126 per month, respectively. You can see some auto insurance providers charge significantly more for this amount for coverage after an accident.
Cheapest Car Insurance in Miami, Fla.: DUI
Driving under the influence in Miami can definitely result in a skyrocketing of auto insurance rates. The good news is that Geico is very cheap compared to other companies — it offers average rates of $113 per month or $1,352 per year for drivers with a DUI. State Farm, AIG and Progressive are also good options with rates under $220 per month on average.
Miami Car Insurance Cost by ZIP Code
The insurance premium you pay is impacted by the fluctuating insurance claim rates across different areas of the city. Below, you can see certain ZIP codes in Miami can be up to 2.3% cheaper or 1.6% more expensive than the city average.
Cheap Car Insurance in Miami, Fla.: Conclusion
Despite the fact that Miami’s auto coverage is 79% higher than that of Florida car insurance and 256% more than the national average, you can still find affordable car insurance companies. For about $59 per month, Geico offers the least-expensive minimum coverage in the city. The same company also provides Miami drivers with highly reasonable full-coverage rates of $159 per month.
Compare free quotes to find the company that meets your Florida car insurance needs at the best rate. You can get auto insurance quotes online or from insurance agents.
Cheapest Auto Insurance in Miami, Fla.: FAQ
Here are some frequently asked questions about the cheapest auto insurance in Miami, Fla.:
*Cost data comes from Quadrant Information Services and is accurate at time of publication.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.