How Much Does Car Insurance Cost in Miami, FL?
When comparing car insurance quotes in Miami, using InsuranceQuotes can help save both time and money. We help drivers find the cheapest auto insurance policy rates from local and national insurance providers become a seamless process. We provides eager insurance seekers with all necessary information to make an informed decision. Rather than spending hours scouring through different websites or making endless phone calls, InsuranceQuotes offers a convenient avenue to compare various options. Find the best coverage at the best price today!.
With this in mind, how much should you expect to pay on average for car insurance in Miami?
Average Miami Car Insurance Rates:
- State Minimum Liability: You can expect to pay $176 a month or $2,107 a year.
- Full Coverage: You can expect to pay $501 a month or $6,010 a year.
InsuranceQuotes cost rates are pulled from our real-time auto insurance database from recent quotes in Miami – Rates are based on a used car driver who is single, middle aged & has a clean driving record. Read on to learn about the cheapest local rates filtered by insurance providers, new cars, vehicle types and age.
Cheapest Car Insurance Providers in Miami?
- In Miami on average the cheapest auto insurance providers are GEICO, State Farm and Direct Auto.
- State minimum liability car insurance starts at $93 a month or $1,119 a year.
- Full coverage car insurance costs around $337 a month or $3,451 a year.
Here is a breakdown of average costs from the cheapest local insurance providers in Miami from our data set of used-car drivers who are single, middle aged and have a clean driving record.
| Insurance Provider: | Minimum Liability: | Monthly: | Full Coverage: | Monthly: |
|---|---|---|---|---|
| GEICO | $1,119 | $93 | $4,048 | $337 |
| State Farm | $1,181 | $98 | $3,069 | $256 |
| Direct Auto | $1,645 | $137 | $5,713 | $476 |
| Allstate | $1,819 | $152 | $6,003 | $500 |
| Progressive | $1,832 | $153 | $4,354 | $363 |
Average Auto Policy Costs by Vehicle Type
The type of vehicle you drive in Miami can increase your overall auto coverage rates, on average state minimum coverage for your vehicle type can be around these price ranges:
- Car (Sedan): $1,164
- SUV: $905
- Coupe: $1,178
- Truck: $1,110
- Hybrid: $1,102
| Miami Auto Insurance Costs: | Sedan: | SUV: | Coupe: | Truck: | Hybrid: |
|---|---|---|---|---|---|
| Broward | $1,197 | $922 | $1,203 | $1,148 | $1,133 |
| Miami-Dade | $1,244 | $959 | $1,262 | $1,178 | $1,175 |
| Palm Beach | $1,050 | $834 | $1,070 | $1,003 | $997 |
How Much Car Insurance is Required in Florida?
In Florida, here is the amount of auto insurance coverage that is required by the state to operate a vehicle legally:
- Personal Injury Protection (PIP):
- $10,000 in PIP coverage is required.
- Property Damage Liability (PDL):
- $10,000 in PDL coverage is required.
Florida is a “no-fault” state, which means that drivers are required to carry PIP coverage to help pay for their own medical expenses and those of their passengers regardless of who is at fault in an accident.
The minimum coverage required in Florida (i.e., PIP and PDL) might not be sufficient to cover all expenses in the event of a severe accident. Additional coverage beyond the state’s minimum requirements may be advisable for better financial protection.
When purchasing car insurance in Florida, consider factors such as the value of your assets, your driving habits, potential risks, and your budget.
How to Save Money on Auto Insurance Policies in Miami
Saving money on auto insurance policies in Miami, FL, can be achieved through various strategies and considerations. Here are some tips to help you reduce your auto insurance costs:
- Compare Insurance Quotes: Use IQ to obtain quotes from multiple insurance providers. Rates can vary significantly among insurers, so comparing options allows you to find the most competitive rates.
- Review Coverage Needs: Assess your coverage needs and consider adjusting your policy accordingly. While maintaining necessary coverage, eliminating unnecessary add-ons can reduce premiums.
- Higher Deductibles: Consider increasing your deductibles (the amount you pay out of pocket in case of a claim). Higher deductibles typically result in lower premium costs.
- Safe Driving: Maintain a clean driving record. Safe drivers often qualify for lower insurance rates and discounts.
- Ask About Discounts: Inquire about available discounts. Insurers often offer discounts for factors such as good driving habits, multiple policies, vehicle safety features, or being a loyal customer.
- Vehicle Selection: Before purchasing a car, consider insurance costs. Some cars are more expensive to insure due to factors like theft rates, repair costs, or safety ratings.
- Usage-Based Programs: Some insurers offer programs that track your driving habits. If you’re a safe driver, these programs may result in reduced premiums based on your driving behavior.
- Bundle Insurance: Consolidate multiple insurance policies (e.g., auto, home, or renters insurance) with the same provider. Bundling policies often leads to discounted rates.
- Good Credit History: In some states, including Florida, insurers consider your credit history when calculating premiums. Maintaining good credit can positively impact your insurance rates.
- Special Programs: Inquire if there are any special programs or discounts offered specifically for Miami residents or for certain professions or affiliations.
- Low Mileage Discounts: Some insurers offer discounts for driving fewer miles. If you don’t drive frequently, inquire about low mileage discounts.
Before making any changes to your insurance policy, ensure that the adjustments still provide adequate coverage for your needs. Speak with insurance agents to understand how different factors can affect your premiums and explore the options available to help reduce your auto insurance costs in Miami, FL.
- About the Author
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Michael Giusti is a senior insurance analyst, business journalist, and university professor with over 20 years of experience. He serves as department chair at Loyola University New Orleans and contributes to Insurance Thought Leadership, U.S. News, and other leading financial outlets.
