Compare the Cheapest Car Insurance Quotes in Miami, FL

The average annual cost of car insurance in Miami is $2,593. That is $385 more than the Florida state average. The cheapest widely available comprehensive car insurance policy in Miami is from GEICO, for $1,396 per year on average. MoneyGeek analyzed the cheapest insurers by coverage limits and driving profiles to help you secure the best provider in terms of quality and cost.

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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

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Last Updated: 5/16/2022
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For full coverage policies and liability insurance GEICO provides the cheapest quotes in Miami, while MetLife offers the cheapest quote for ticketed drivers. If you are a member of the military, USAA may offer the cheapest policies. MoneyGeek rated Esurance as the best car insurance company in the city due to its exceptional quality service and affordability.

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The Cheapest and Best Car Insurance in Miami

The Cheapest Car Insurance Companies in Miami

The cheapest full coverage insurance policies in Miami are available from the following two insurance companies:

  • GEICO: $1,396 per year
  • MetLife: $2,047 per year

While USAA provides the city’s cheapest full coverage insurance quotes at $1,103 per year, its insurance plans are exclusive to military personnel and their families.

GEICO has Miami’s cheapest average premium, which is about 150% lower than the most expensive quote from Mercury for a comparable policy. With a full coverage insurance policy, you get multiple coverages, including comprehensive and collision coverages. The premiums for these policies vary according to the level of liability coverage you choose.

Cheapest Car Insurance in Miami
Full Coverage 100/300/100
  • Company
    100/300/100per year
  • 1.
    USAA
    $1,103
  • 2.
    GEICO
    $1,396
  • 3.
    MetLife
    $2,047
  • 4.
    State Farm
    $2,235
  • 5.
    Allstate
    $2,505
  • 6.
    Allied
    $2,895
  • 7.
    Progressive
    $2,947
  • 8.
    Travelers
    $3,220
  • 9.
    Mercury
    $3,496

MoneyGeek conducted this analysis by examining the average insurance rates for a 40-year-old male driver protected by a full coverage insurance policy.

Other than liability insurance, full coverage policies contain the following two coverages, which is why they’re so expensive:

  • Collision Coverage: Covers your car against damages caused by an accident with another vehicle.
  • Comprehensive Coverage: Pays for losses caused by non-collision damage like weather events, fire and car theft.

A full coverage car insurance policy can be impractical for an older car, especially if your premiums add up to more than the car’s replacement value. A state minimum or liability insurance coverage may be desirable in this case.

Compare Car Insurance Rates in Miami

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Insurance Rates

Cheapest Car Insurance in Miami for Minimum Coverage

In Miami, the cheapest insurance policy is liability-only, which provides the basic minimum of coverage. The following companies offer the cheapest minimum liability insurance in the city, on average:

  • GEICO: $638 per year
  • MetLife: $1,171 per year

Those from military families are eligible for the city's cheapest quote of $450 from USAA. GEICO is $1,171 cheaper than Mercury, which quotes an average of $1,809 yearly for a comparable policy, and is the most expensive.

Since minimum coverage insurance policies have lower coverage limits, they cost less. In the case of an accident, however, you may be underinsured without comprehensive and collision coverages. The table below shows how increasing liability limitations affects insurance rates.

Cheapest Minimum Liability Car Insurance in Miami
State Minimum

Florida’s drivers must carry minimum liability insurance, which protects up to $10,000 in both property damage and personal injury. While this level of insurance is the cheapest in Miami, it also provides the least amount of coverage. You can be burdened with significant financial obligations if you’re in an accident.

For example, if the other driver’s total medical bills reach $15,000 in an accident, you would be covered for $10,000; the rest is your responsibility to pay.

Florida Minimum Liability Requirements

  • Item
    Description
  • Property Damage
    $10,000 for property damage. A more protective level is 100/300/100.
  • Personal Injury Protection
    $10,000 per person.

Cheapest Car Insurance in Miami if You Have Driving Violations

Your auto insurance premiums will increase if you get a ticket in Miami for a traffic violation, such as speeding or driving under the influence (DUI). The following are the city’s cheapest average insurance quotes after commonly committed traffic violations:

  • Cheapest after a ticket: MetLife, $2,435 per year
  • Cheapest after an at-fault accident: GEICO, $1,973 per year
  • Cheapest after a DUI: State Farm, $2,436 per year

Although USAA offers the cheapest insurance after these traffic violations, the insurer’s policies are only for military members and their families.

Eventually, you can rebuild your driving record and lower your insurance rates, regardless of the infraction. In the meantime, it’s a good idea to compare insurance quotes and see who offers the best rates for the coverage you want.

Cheapest Car Insurance in Miami With a Violation
Speeding Ticket

Average Cost of Car Insurance in Miami

Miami$2,593
Florida$2,208
U.S.$1,424

The average car insurance in Miami is $2,593 per year, which is higher than both the state and national average costs of auto insurance. Drivers living in this city pay around 17.4% more than the state average of $2,208 annually. In comparison, this rate is 82% more than the $1,424 average annual premium in the United States.

Personalized Quotes to Get You the Cheapest Car Insurance in Miami

Car insurance companies in Miami evaluate risks related to a specific driver using several factors, which include age, gender, car make and model, ZIP code and driving history, among others. For instance, in Miami, senior citizens are more likely to get better deals. In Miami, a 70-year-old senior male policyholder with GEICO may have a $1,367 annual premium. However, GEICO may offer an 18-year-old male Miami resident an annual premium of $3,803. Changes in your personal circumstances, including age, will have an impact on your car insurance rates. That is why it is best to regularly get personalized quotes from various auto insurance companies.

Compare Car Insurance Rates in Miami

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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The Best Car Insurance Companies in Miami

MoneyGeek evaluated Miami's car insurance companies based on their affordability and quality of customer service. According to our research, the following companies offer the city's best car insurance:

  • Esurance: MoneyGeek score of 95 out of 100
  • GEICO: MoneyGeek score of 85 out of 100

USAA came out on top in Miami, earning the highest possible score of 100 out of 100. Since the company's policies are restricted to military members and their families, it was not included in our list.

MoneyGeek rated the best auto insurance companies in Miami out of 100 points based on several factors, including customer satisfaction, insurer financial stability and affordability scores from data analytics and consumer intelligence company J. D. Power.


1
USAA
Score:100

5/5

Affordability

5/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

2
Esurance
Score:95

5/5

Affordability

4/5

Claims Ratings

5/5

User Satisfaction

A+

Financial Stability

3
GEICO
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

4
Travelers
Score:85

3/5

Affordability

4/5

Claims Ratings

2/5

User Satisfaction

A++

Financial Stability

5
MetLife
Score:82.5

3/5

Affordability

4/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

6
Hartford
Score:82.5

2/5

Affordability

5/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

7
Liberty Mutual
Score:80

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

8
Auto-Owners Insurance Co
Score:80

3/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A++

Financial Stability

9
State Farm
Score:77.5

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A-

Financial Stability

10
Nationwide
Score:77.5

3/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

11
Progressive
Score:75

2/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

12
Safeco
Score:75

2/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A

Financial Stability

Average Cost of Car Insurance by Postal Code

The average car insurance rates in Miami vary depending on the ZIP code. The difference between the cheapest and most expensive rates in the city, based on ZIP code, is $435. The most expensive neighborhood, 33165, has an average auto insurance annual premium of $2,784. Meanwhile, 33157 has the most affordable average premium of $2,349.

  • Zip Code
    State Minimumper year
  • 33157
    $2,349
  • 33186
    $2,519
  • 33175
    $2,719
  • 33165
    $2,784

Factors That Impact Insurance Costs in Miami

In addition to individual driver needs and history, location-specific factors like personal injury protection coverage requirements and the percentage of uninsured motorists also contribute to car insurance rates in Miami. How Miami ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities48th/300
handcuffs2 icon
Most Car Thefts166th/300
uninsured icon
Most Uninsured Motorists by State1st/50
insurance2 icon
Personal Injury Protection RequiredYes
rain icon
Most Annual Rainfall14th/300
umbrella icon
Most Rainy Days30th/300

Methodology and Assumptions

MoneyGeek’s average premium rates for Miami are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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