BestCar InsuranceMiamiThe Best Car Insurance in Miami, FL, for 2023
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Ensure you're getting the best rate. Review quotes from a top insurance company.
While MoneyGeek’s analysis identified GEICO as the best auto insurance company in Miami, the best option for you can vary based on your age and background. MoneyGeek broke down the best providers in Miami for young and older drivers, drivers with bad records and drivers with a military background. If you are more interested in cost savings, MoneyGeek also analyzed the cheapest car insurance in Miami.
BestCar InsuranceMiamiThe Best Car Insurance in Miami
Overall - GEICO
Minimum Coverage - GEICO
Young Drivers - GEICO
Senior Drivers - GEICO
Driving Violations - GEICO
Military - USAA
Best Car Insurance Companies in Miami: Overall
To find the best auto insurance in Miami, MoneyGeek analyzed each provider’s average rates, claims ratings and user satisfaction. Using these factors, the best providers in the city are:
- GEICO: 88 out of 100
- MetLife (now owned by Farmers): 70 out of 100
MoneyGeek’s analysis omitted USAA, whose policies are exclusively available to military drivers. However, USAA earns a MoneyGeek score of 100 out of 100, making it the best overall option for military families.
The Top Car Insurance Companies in Miami
1
GEICOOverall
Score:88
In Miami, GEICO ranks first in affordability and financial stability but lower in claims. The insurer charges an average of $1,396 annually for a full coverage policy. With GEICO, policyholders can enjoy Mechanical Breakdown Insurance.
More About GEICO
GEICO policyholders with new cars can take advantage of the company’s unique Mechanical Breakdown Insurance, which can give you better coverage for your parts at a more affordable price compared to any dealer’s extended warranties. The insurer also offers Accident Forgiveness, which is perfect for safe drivers who want to avoid a premium hike after getting into an accident.
Read MoneyGeek's GEICO auto Insurance Review2
MetLife
Score:70
MetLife (now owned by Farmers) ranks highly in financial stability and claims ratings in Miami but lower in affordability. Policyholders can add unique add-on coverages such as Glass Deductible Modification. On average, a MetLife policy in Miami costs roughly $2,047 per year.
More About MetLife
MetLife, which has been acquired by Farmers, offers a number of its parent company’s unique coverages. For instance, their Glass Deductible Modification coverage can let you reduce your deductible if your losses are only glass parts. You can opt for a $0 deductible Full Windshield and Glass Coverage, which can ensure you don’t have to pay out-of-pocket for claims in case your windshield is the only thing that gets damaged.
Read MoneyGeek's MetLife auto Insurance ReviewRESOURCES ON CAR INSURANCE IN MIAMI, FLORIDA
For drivers in the city of Miami, MoneyGeek examined a variety of the best companies for different needs. If you’re looking for more information on car insurance in Florida, MoneyGeek covers:
Best Cheap Car Insurance for Minimum Coverage in Miami
For drivers who are only looking for minimum-liability insurance in Florida, MoneyGeek examined the best providers following the state’s minimum requirements.
The top car insurance companies in Miami based on the state’s minimums are:
- GEICO: 87 out of 100
- Allstate: 63 out of 100
MoneyGeek’s scores for minimum-liability policies took into account different driver backgrounds, such as old and young drivers along with drivers with violations.
MoneyGeek’s Pick: GEICO
pros
Average cost of a policy is at $638 per year
Offers discounts such as bundling, good student and military discounts
MoneyGeek satisfaction score of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
No discounts for paying in full or going paperless
COMPANY HIGHLIGHTS
At GEICO, policyholders can get common add-on coverages such as Roadside Assistance and Rental Car or Travel Reimbursement. These can help pay for the costs of emergency assistance on the road, such as towing or the delivery of gas or oil.
GEICO also offers a few unique coverages, such as Accident Forgiveness and Mechanical Breakdown Insurance (MBI). MBI is rare amongst providers, and it can guarantee affordable coverage for parts and systems of your vehicle. Accident Forgiveness, on the other hand, prevents a rate hike the first time you get into an accident.
Best Car Insurance for Young Drivers in Miami
To find auto insurance for young drivers in Miami, MoneyGeek examined providers based only on a sample teen profile.
Based on MoneyGeek’s analysis, which was determined by various coverage levels and driver histories for an 18-year-old driver, the best auto insurance companies in Miami for teens or student drivers are:
- GEICO: 95 out of 100
- State Farm: 83 out of 100
Keep in mind that typically, auto insurance for students or young drivers is more expensive. This is because their lack of driving experience increases their risk of getting into an accident. Insurers offset this with higher premiums.
MoneyGeek’s Pick: GEICO
pros
Affordable full coverage policy for safe drivers averages $3,803 per year
Offers student-related discounts such as driver’s education and good student discount
MoneyGeek satisfaction score of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
No distant student discount
COMPANY HIGHLIGHTS
While policyholders with a teen or student on their insurance can typically expect to pay more, GEICO offers a balance between affordable policies and great service. This unique combination can help ease if you ever need to file a claim since you can be assured that your concerns will be handled with efficiency.
GEICO also offers a few student-specific discounts to help make premiums more affordable. For example, the company offers a Good Student discount, which can lower your premiums if you have a full-time student with a good academic record. GEICO also has an Accident Forgiveness coverage, which can ensure your premiums don’t increase after your first accident.
Best Car Insurance for Senior Drivers in Miami
Using the profile of senior drivers in Miami, MoneyGeek identified the best car insurance providers in the city for seniors based on different policy coverages and driving histories.
MoneyGeek found that the top car insurance companies in Miami for seniors are:
- GEICO: 92 out of 100
- MetLife (acquired by Farmers): 74 out of 100
Car insurance for seniors is generally more expensive compared to those who are middle-aged. This is because they also carry an increased risk, similar to young drivers, of getting into an accident.
MoneyGeek’s Pick: GEICO
pros
Affordable full coverage policy costs an average of $1,367 per year for safe drivers
Get discounts for defensive driving and driver’s education
MoneyGeek satisfaction score of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
Only offers one unique coverage
COMPANY HIGHLIGHTS
While there is no difference in coverages between car insurance for seniors and your typical policy, some insurers may charge more. GEICO, however, stands out as an affordable insurer for seniors while providing great customer service.
To help make premiums less expensive, senior policyholders can qualify for GEICO’s Driver's Education discount. If you take an accredited driving course, you can qualify for a discount. Seniors can also add GEICO’s Mechanical Breakdown coverage to their policy, which can help pay for the cost of parts or systems at a more affordable price compared to an extended dealer’s warranty. This best suits seniors who have newer cars with better security and safety systems installed.
Best Car Insurance With a Driving Violation in Miami
Finding auto insurance with a bad driving record can be a challenge, especially since it can come with extra costs. To cater to those with poor driving histories, MoneyGeek identified the best auto insurers in Miami using only the profile of a driver with an at-fault accident on their record.
The top two car insurance providers in Miami best for those with a bad driving record are:
- GEICO: 92 out of 100
- State Farm: 78 out of 100
Scores from MoneyGeek’s analysis are based on a blend of different driving histories and policy coverages.
MoneyGeek’s Pick: GEICO
pros
Coverage for a 40-year-old driver with an accident costs an affordable average of $1,973 per year
Offers seven common discounts, including safe driving, anti-theft system and defensive driving
MoneyGeek satisfaction score of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
The unique coverage offered by GEICO is only available to drivers with new cars
COMPANY HIGHLIGHTS
Drivers with an accident or violation on their record may find it advantageous to work with companies that offer great and affordable services. GEICO fits this description, offering the best and cheapest policies in Miami for drivers with poor records.
GEICO offers a number of discounts to make its policies more affordable. These include common discounts such as bundling, anti-theft system and multiple cars. Some of their rare offerings include a Daytime Running Lights discount, which gives you a discount if you have daytime running lights. They also offer a Federal Employee discount to active or retired federal employees.
Best Car Insurance With a Military Background in Miami
For military members looking for auto insurance, USAA offers the best auto insurance policy in Miami. MoneyGeek rated the company 100 out of 100 for its affordability and customer service.
USAA insurance is only available to active military members, veterans and their families who meet the company's eligibility requirements. A USAA policy cannot be purchased by anyone who is not a service member or is not related to one.
MoneyGeek's scores for USAA consider both young and older drivers, as well as drivers with violations.
MoneyGeek’s Pick: USAA
pros
Full coverage policy is affordable at an average of $1,103 per year
Offers five of the most common discounts such as good student, safe driving and defensive driving
MoneyGeek Satisfaction score of 5 out of 5
MoneyGeek Claims rating of 5 out of 5
cons
Only offers three common coverages out of seven, missing new car replacement
Policies are only available for military members and their families
COMPANY HIGHLIGHTS
Due to its affordability and high service ratings, USAA consistently ranks as one of the top insurance providers nationwide. Policyholders who opt for the company’s optional coverages such as Roadside Assistance, Rental Car and Travel Reimbursement and Accident Forgiveness can further protect their vehicles.
Moreover, USAA offers five out of the nine most commonly offered discounts. This includes good student, bundling, multiple cars and safe driving discounts. One of their more unique options discounts is their Vehicle Storage discount, which gives you up to 60% savings when you store an insured car with USAA.
Methodology
Using ratings from industry leaders such as J.D Power, AM Best and the National Association of Insurance Commissioners (NAIC), MoneyGeek identified the best car insurance companies in Miami, Florida.
A particular driver profile was used to determine which company had the highest MoneyGeek score based on cost and quality of service. However, different driver profiles were used to examine the best insurers for different categories later on.
Weightings for MoneyGeek scores followed a five-point scale and were scaled to 100. The following factors were examined:
- General customer and claims satisfaction (20%): MoneyGeek rated Miami insurers on a scale of one to five based on J.D. Power customer and claims satisfaction surveys, each worth 10%.
- Affordability (70%): MoneyGeek measured the affordability of insurance companies in Miami using a five-point scale. Factors such as the driver's record, age and insurance coverage limits are accounted for in the overall affordability score.
- Financial stability (10%): AM Best's financial strength ratings were used to determine the insurer's ability to pay claims during difficult economic times.
When analyzing a full coverage policy, MoneyGeek considered the following limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability
- Comprehensive and collision coverage with a $1,000 deductible
MoneyGeek collected insurance quotes for a 40-year-old Miami resident driving a Toyota Camry with a clean driving record. Quotes for full coverage policies were collected in cooperation with Quadrant Information Services. Learn more about MoneyGeek's auto insurance methodology.
About Mark Fitzpatrick
