Lowest Car Insurance In Florida - Minimum coverage car insurance in Miami costs an average of $3,788 or $316 per month. The average cost of a full coverage policy is $5,094 or $425 per month.
Miami drivers can find cheaper auto insurance with Geico, which offers quotes well below the city average.
Lowest Car Insurance In Florida
To save as much money as possible in the Magic City of Florida, you need to compare quotes and policies from multiple insurance companies.
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Geico had the most affordable prices for drivers in Miami, with an average annual cost of $1,501, about $2,287 less than the city average.
The next cheapest option is State Farm, but that's about double Geico's policy minimum.
The cheapest auto insurance plan a driver can get is a minimum liability policy, which provides the least amount of coverage the state requires drivers to legally operate a vehicle. Florida has the second highest minimum liability policy in the country.
Although the cheapest coverage option is a minimum policy, it may not be the best for your needs or background. For example, drivers insured under a minimum insurance policy are not financially protected from damage caused by storms or hurricanes.
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Miami residents who own a new vehicle or car valued at more than $3,000 should invest in higher coverage limits or additional protection options.
Geico has the cheapest coverage plan at $2,166 per year. This is $665 more than the minimum coverage policy.
A comprehensive coverage policy is one that includes the financial protection that a minimum liability policy provides, as well as collision and comprehensive coverage.
New drivers looking for affordable car insurance in Miami should check out Geico, which has an average rate of $4,262.
Cheapest Full Coverage Auto Insurance
The cheapest comprehensive coverage policy for a young man is more expensive than the city average. Insurance rates tend to be higher if you are a new and inexperienced driver because you are statistically more likely to have an accident.
New drivers must navigate Florida's expensive insurance environment, often on a limited budget. There are a few ways to make insurance more affordable.
Of the Big Six insurers in Miami, Geico and State Farm raised premiums the least after an accident.
Depending on your insurer, premiums can increase by thousands of dollars after an accident.
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MetLife, the most expensive insurer, raised rates for its drivers by nearly 60% after an accident, a whopping difference of $3,996.
Accidents are unpredictable; you never know when you're in for it. Accidents on your record will have a big impact on your premiums, so we recommend that you compare car insurance policies from multiple insurers and look for additional discounts.
According to our customer satisfaction survey, the Miami insurer with the most positive feedback on service is Allstate, with 64% of customers saying they were very satisfied with the experience.
Another major insurer with a similar rating is State Farm, where 59% of customers said they were satisfied with the experience.
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Miami drivers should consider insurers with the highest levels of customer service. Even if a company has low insurance premiums, it may not be enough to compensate for long claims processes, slow or nonexistent response times, or rude agents.
The National Association of Insurance Commissioners (NAIC) measures the quality of a company's customer service by the frequency of official complaints from drivers. According to the NAIC, the companies with the fewest customer complaints are:
The NAIC Complaints Index has a national median of 1.0, meaning companies with a lower index tend to provide better customer service.
Insurance premiums can even vary depending on the area of the city. Each neighborhood in Miami differs in terms of crime, accident rates, and population density. As a result, policy premiums can vary by more than $1,000.
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For example, the average resident of South Miami, one of the cheapest parts of the city, pays about $3,128 for a minimum policy. Meanwhile, Little Havana, one of Miami's most expensive neighborhoods, is a major cultural center where residents pay an average of $4,425 for car insurance.
The minimum auto insurance requirement is set by the state of Florida. All Miami drivers must have the following insurance to legally drive in the state:
Considering Florida's high insurance premiums, it's understandable that drivers opt for the minimum amount of coverage because it's the cheapest option. However, it may not suit your individual needs.
Drivers whose cars are less than 10 years old or worth more than $3,000 should consider opting for additional coverage. If you end up in an expensive accident with inadequate coverage, you could end up paying out of pocket.
Cheap Car Insurance Florida
No-fault states require insurers to cover medical expenses regardless of who is at fault in an accident. Florida is one such state. This no-fault coverage comes in the form of PIP liability.
PIP covers 80% of medical expenses and 60% of lost earnings if you are unable to work, with a combined limit of $10,000.
No-fault insurance differs from liability insurance in that the latter pays other parties if you are at fault for an accident.
Auto insurance quote data was collected from six insurance companies in Miami. Our example is a 30-year-old male who, unless otherwise noted, received a minimum liability quote. In cases where a full coverage policy was analyzed, the following limits were applied:
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Analysis used insurance premium data from Quadrant Information Services. These rates have been publicly obtained from insurer requests and are for comparison purposes only; your own quotes may differ.
To request an insurance quote over the phone, call: (855) 596-3655 | Agents 24 hours a day, 7 days a week! Most drivers in Lakeland, Florida can get the cheapest auto insurance from Geico, with an average cost of $75 per month for liability-only policies and $128 per month for comprehensive policies. State Farm offers the cheapest auto insurance rates for Lakeland drivers with speeding, accident or DUI tickets.
The average annual cost of auto insurance in Lakeland is $2,154 per year, 9% less than the state average of $2,361 for minimum liability policies, but still expensive compared to the rest of the United States due to its proximity to cities like Tampa and Orlando.
For state minimum liability policies, Geico had the best rate at $905 a year, about half the city's average rate of $2,154 a year.
Average Cost Of Car Insurance In Florida
Drivers can save an average of $1,220 per year by switching to one of Lakeland's cheapest auto insurance companies, based on an average annual rate of $2,154. However, a liability-only policy only includes the minimum coverage required by the state. it may not be enough to fully cover you in an accident. You'll need full coverage if you need a car loan or want more protection.
Geico has the cheapest comprehensive insurance policies for Lakeland drivers at $1,539 per year. State Farm also offers the cheapest annual premiums at $1,598.
Insurance companies often charge higher premiums if you have a history of tickets, at-fault accidents, or other violations. Geico and State Farm are lenient on Lakeland drivers with some incidents, although State Farm offers slightly cheaper rates.
You can get auto insurance on your speeding ticket for $1,740 a year from State Farm. Geico is also an option with an annual fee of $2,651.
Car Insurance Costs By State
State Farm and Geico offer the best rates if you have an at-fault car accident on your driving record at $1,883 and $2,147 per year, respectively.
Expect to pay an average of 28% more per year for your auto insurance if you have a DUI in Lakeland. State Farm will cover you for $1,740 a year, while Geico's policy can set you back $2,798 a year. The good news is that State Farm, Geico, Progressive and Allstate can help you file your Florida FR-44, which shows that you meet the state's minimum auto insurance requirements after getting a DUI or DWI.
Factors like where you live or the car you drive can affect your auto insurance premiums, as can your credit score. Expect to pay 18% more in Lakeland if you have bad credit. Geico and State Farm offer the best rates for drivers with bad credit over $1,200 a year.
If you drive little or are generally a safe driver, consider telematics insurance to help you save. With this type of car insurance, your premium mainly depends on how well and how much you drive. Factors like your credit score matter less. Geico, State Farm, Progressive and Allstate offer usage-based programs or safe driving discounts in Florida.
Tips To Keeping Your Car Insurance Rates Low
Like most insurers, Geico offers cheaper rates to married drivers, up to $1,533 a year. The State Economy also gives a significant discount
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