bestauto insuranceMiamiCompare the Cheapest Car Insurance Quotes in Miami, FL
Compare Rates
Ensure you're getting the best rate. Review quotes from a top insurance company.
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.
bestauto insuranceMiamiThe 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
- Company100/300/100per year
- 1.$1,103
- 2.$1,396
- 3.$2,047
- 4.$2,235
- 5.$2,505
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.
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
- ItemDescription
- 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
- CompanySpeeding Ticketper year
- 1.$1,219
- 2.$2,435
- 3.$2,436
- 4.$2,505
- 5.$2,528
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.
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 Miami'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
GEICO
Score:88
2
MetLife
Score:70
3
State Farm
Score:66
4
Allstate
Score:64
5
Travelers
Score:47
6
Progressive
Score:39
7
Allied
Score:31
8
Mercury
Score:23
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 CodeState 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.
About Mark Fitzpatrick
sources
- Florida Highway Safety and Motor Vehicles. "Florida Insurance Requirements." Accessed June 18, 2020.