Cheapest car insurance companies in Miami
A recent data analysis by Insurance.com found the cheapest car insurance companies are Geico and State Farm in Miami for 2023.
Geico offers the cheapest car insurance premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. for Miami drivers at an annual rate of $2,402 a year, on average.
In Miami, what you pay for car insurance depends on factors such as your location, driving history, coverage level, and the insurance carrierAn insurance carrier is the company that provides your car insurance policy and pays claims.. Take time to compare price quotes from at least three insurers to get the best coverage at an affordable rate. The table below shows the car insurance companies with cheap insurance rates.
| Companies | Average annual rates |
|---|---|
| Geico | $2,402 |
| State Farm | $3,094 |
| Nationwide | $3,413 |
| Travelers | $3,566 |
| Progressive | $3,824 |
| United Automobile Insurance | $3,845 |
| Mercury Insurance | $3,996 |
Cheapest car insurance cost in Miami by Age Group
The cheapest auto insurance company in Miami for teen drivers is Geico. For full coverage, its average annual rate for Miami drivers is $7,220. Insurance companies put teenagers in the category of high-risk drivers, and as a result, they are charged higher rates for insurance.
Teens can maintain lower car insurance premiums by leveraging the good student discount or by remaining on their parent’s existing policy as long as feasible.
Geico provides the cheapest car insurance coverage for young drivers in Miami, with an annual premium of $4,363 on average.
For Miami drivers entering their 30s, car insurance becomes significantly more affordable compared to their younger years. Geico provides the cheapest car insurance premiums, offering full coverage policies at $2,476 annually.
Geico tops the list in terms of affordability for senior drivers in Miami. With an average annual premium of $2,270, Geico offers senior drivers the cheapest car insurance rates, allowing them to enjoy peace of mind.
| Company | Teens | Young Adults | Adults | Seniors |
|---|---|---|---|---|
| Allstate | N/A | $6,480 | $4,683 | N/A |
| Farmers | N/A | N/A | $3,762 | $3,688 |
| Mercury Insurance | N/A | $5,630 | $3,990 | $3,840 |
| Geico | $7,220 | $4,363 | $2,476 | $2,270 |
| State Farm | $7,982 | $4,692 | $3,090 | $2,982 |
| United Automobile Insurance | $8,956 | $5,248 | $3,858 | $3,658 |
| Nationwide | $10,535 | $4,689 | $3,333 | $3,371 |
| Progressive | $10,651 | $5,883 | $3,852 | $3,670 |
| Travelers | $11,803 | $5,538 | $3,587 | $3,472 |
| National General Insurance | $11,910 | $6,978 | N/A | N/A |
Cheapest car insurance companies in Miami by driver profile
Insurers in Miami consider various factors, including driver profile, to calculate car insurance premiums. You can expect to pay significantly higher rates if you have a history of accidents or traffic citations on your driving record. On the other hand, those with a clean driving record enjoy more affordable coverage.
When it comes to finding the cheapest car insurance rates in Miami, make sure you compare insurance quotes from various insurers. By comparing rates from multiple providers, you can get the coverage you need while saving money.
Here's a list of car insurance companies that offer cheap insurance rates in Miami based on driver profile.
- Cheapest for a driver with poor credit: Geico
- Cheapest for a driver with a speeding ticket: Geico
- Cheapest for accident: Geico
- Cheapest for DUI: State Farm
Cheapest for a driver with poor credit: Geico
If you're a Miami driver with poor credit, Geico is the cheapest car insurance company for you, based on Insurance.com's in-depth data analysis. It offers a full-coverage car insurance policy at an average cost of $3,149 annually.
The table below shows the list of car insurance companies that offer affordable car insurance for drivers with poor or bad credit scores.
| Company | Average annual rates |
|---|---|
| Geico | $3,149 |
| Nationwide | $5,228 |
| State Farm | $5,318 |
| Allstate | $6,534 |
| Travelers | $6,764 |
| Progressive | $6,873 |
| Farmers | $8,445 |
Cheapest for drivers with a speeding ticket: Geico
Geico offers the cheapest auto insurance rates for drivers with a speeding ticket in Miami. It provides full coverage car insurance for drivers aged 30 at about $2,888 per year.
Finding the right car insurance company is all about individual needs. Take the time to compare quotes from different carriers and secure the best deal. With careful analysis, you can find an insurance company that provides the best rates and coverage tailored to your specific needs.
| Company | Average annual premium |
|---|---|
| Geico | $2,888 |
| State Farm | $3,006 |
| Allstate | $3,648 |
| Travelers | $4,812 |
| Nationwide | $4,998 |
| Progressive | $6,049 |
| Farmers | $6,577 |
Cheapest auto insurance after an at-fault accident: Geico
Looking for affordable car insurance rates after an at-fault accident? It can be a challenge, but with comparison shopping, you might find a policy that suits your budget.
Drivers in Miami with at-fault accidents on their driving records can find the cheapest car insurance rates with Geico. Its full coverage policy costs an average of $2,638 annually.
| Company | Average annual rates |
|---|---|
| Geico | $2,638 |
| State Farm | $3,234 |
| Travelers | $4,837 |
| Nationwide | $4,996 |
| Allstate | $5,944 |
| Progressive | $7,185 |
| Farmers | $7,805 |
Cheapest auto insurance after a DUI: State Farm
In Miami, State Farm has the cheapest car insurance rates for individuals with DUI on their record. The company provides a full coverage policy at an average cost of $3,006 a year.
Drivers convicted of a DUI offense face substantial increases in their car insurance rates. To get affordable premiums, you should compare quotes from different insurance carriers.
| Company | Average annual rates |
|---|---|
| State Farm | $3,006 |
| Geico | $4,211 |
| Allstate | $5,404 |
| Progressive | $5,950 |
| Farmers | $6,023 |
| Travelers | $6,175 |
| Nationwide | $8,306 |
Average car insurance cost in Miami
The average car insurance rate in Miami for full coverage is $3,345 per year or $279 a month. These rates are for coverage levels of 100/300/100. Whereas the average rate for state minimum coverage in Miami is $1,244 per year.
You pay more for full coverage insurance than the state minimum, but it covers damage to your car besides providing coverage for other driver's vehicle. To lower your premium, consider comparing quotes from different companies.
| Average annual Rates | State minimum average |
|---|---|
| $3,345 | $1,244 |
Methodology
Insurance.com commissioned 2023 data for the cheapest car insurance rates in cities from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:
- 40-year-old male driver
- Honda Accord LX
- 12-mile daily commute, 10,000 annual miles
- Good credit
- Clean record
While the rates for drivers with poor credit, speeding tickets, DUI and at-fault accidents were sourced from the Auto Problems Report 2023.
Rates are based on coverage limits of:
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage per accident
- $500 comprehensive and collision deductible
Insurance.com analyzed rates from over 34,000 ZIP codes, 56 million quotes, and 136 companies. Based on the analysis, we have created lists of the cheapest companies for different driver profiles. USAA also made it to the list, but it offers services only to current and former military members and their families. Rates sourced from Quadrant Data Services for comparison purposes only; your rates may differ.
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