Auto Insurance Basics

Who Has The Cheapest Auto Insurance Quotes in Miami, FL?

Find the Cheapest Insurance Quotes in Your Area

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Miami is home to thousands of drivers in need of car insurance. Unfortunately, Miami has some of the highest rates in the entire country. With a good amount of shopping and comparing quotes however, you will be able to find affordable auto insurance. In this article, we analyze 13 auto insurers to see who offers the lowest car insurance rates in the Magic City.

Cheapest Car Insurance Companies in Miami, Florida

We surveyed 13 auto insurance companies in Miami to see which offered the best car insurance rates. Overall, we found GEICO to have the cheapest auto insurance quotes for our sample driver with an average premium of $1,142--about a quarter as expensive as the city average. The next best auto insurer for Miamians is Progressive, being around $200 per year more expensive than GEICO. One company you should also consider that we could not get rates for is The Hartford. We discuss them more below; their rates in Miami are also supposed to be on the cheap side according to J.D. Power.

The image shows the most affordable car insurance companies in Miami, Florida

Find the Cheapest Auto Insurance Quotes in Your Area

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Our values are representative of a 30 year old male driver of a Toyota Camry opting for full coverage for each of those companies. Depending on your age, marital status, the type of car you drive and other factors, your rates will likely be a bit different. To start comparing your own auto quotes, put in your zip code in the box above. Below you can see our full survey of all 13 car insurance companies.

RankAuto Insurance CompanyAverage Annual Rate
1GEICO$1,142
2Progressive$1,347
3Electric$2,808
4Allied$3,336
5Allstate$3,504
6Mercury$3,912
7United Automobile$4,092
8State Farm$4,260
9MetLife$4,596
10Kingsway America$4,776
11Hanover$6,120
12Direct General$6,456
1321st Century$7,116

Cost of Car Insurance in Miami: by Neighborhood

Car insurance rates will fluctuate depending on which part of the Magic City you live in. We found that within the city's 35 zip codes, prices can vary by several hundred dollars. We surveyed six individual neighborhoods, some being more expensive and less expensive than the city average.

NeighborhoodAverage Annual Car Insurance Rate
Little Haiti$3,401
Brickell/Downtown$3,591
Coconut Grove$3,670
Wynwood$3,968
Coral Way$4,001
Little Havana$4,186

Even if you live in an expensive neighborhood, you can still find low cost auto insurance if you shop around. In all neighborhoods the least expensive car insurance companies tend to stay the same, so by shopping around you can still find rates well below average.

Best Auto Insurance Companies in Miami

Who is the best car insurance company in Miami? According to the 2016 J.D. Power Survey of Florida auto insurance companies, customers rated The Hartford as the best insurer in Florida. The Hartford received 5/5 stars for every category including pricing, flexibility of policies and claims handling. The biggest issue with The Hartford that we found is that it can be difficult to get a quote online sometimes. Certain profiles may not be quoted online, forcing you to call an agent. Below we list a few other companies that may better suit you depending on what you are looking for.

Auto Insurance CompanyBest For...
The HartfordClaims, Flexibility, Customer Interaction

GEICO

Ease and convenience

USAA

Military Members

GEICO is your next best option if you're looking for fast, cheap and convenient auto insurance. GEICO does not require speaking to an agent, and you can start and finish the whole purchasing process online. GEICO also scores as the third best company for overall satisfaction according to J.D. Power. While it received 4/5 stars for claims handling, it does score only 3/5 for customer interaction, so be aware of that if you choose to go with GEICO.

If you are in the military--especially if you are likely to be deployed in the future--USAA may be the best company for you. USAA is highly regarded by the J.D. Power survey, only placing second to The Hartford. If you keep your car at a military base, USAA offers a 15% discount on your comprehensive insurance. If you are being deployed as well, USAA offers sizable discounts for your auto policy when you store your vehicle safely while overseas. This would be preferable to having a lapse in auto insurance, which can be quite costly down the line.

Fatal Accidents in Miami

There were 228 fatal car accidents within Miami between the years of 2011 and 2015. The highest density of fatal accidents tend to occur in Downtown Miami and Coral Way.

Most Dangerous Roads in Miami

Certain roads in Miami tend to get more fatalities than others. Overall we found US-1, which loops through the Coral Way neighborhood on the outskirts of the city had the most fatalities between 2011 and 2015. The following is a list of the five roads with the most accidents.

RankHighwayNumber of Fatal Accidents (2011 - 2015)Percent That Involve Drunk Driver
1US-180%
2SR-836742.9%
3NW 12TH AVE616.7%
4SR-960%
5SR-93460%

Miami actually appears to have a relatively small percentage of fatal accidents that can be attributed to a drunk driver. Only 11% of fatal accidents had a drunk driver, compared to Texas and California cities where it was usually at least 25% of all accidents. SR-836 had the most drunk driving fatal accidents of any Miami road.

Minimum Car Insurance Requirements in Miami, Florida

Florida drivers have to abide by car insurance laws and have a minimum amount of auto insurance on their policies. Florida is the only state that does not require bodily injury liability, only requiring drivers to have property damage liability insurance as well as Personal Injury Protection. Below you can see the full breakdown:

  • $10,000 of Personal Injury Protection
  • $10,000 of Property Damage Liability

The limits for Florida drivers are very low, and we would consider most drivers take out higher limits. The personal injury protection can be a redundant coverage if you have good health insurance that will cover your injuries in the case of an accident. We would recommend drivers add uninsured motorist coverage to their policies as well since Florida has the 2nd highest uninsured driver rate according to the Insurance Information Institute. Like our sample driver above, we would also recommend getting collision and comprehensive insurance if your car is less than 10 years old and worth more than $3,000.

How We Compared Quotes

We collected quotes from different insurance companies across 98 towns and cities in Florida, including the city of Miami. Our sample driver was a 30 year old male who drove a Toyota Camry. To obtain quotes, we kept parameters for getting coverage the same, such as that he was single, had a good credit score and a clean driving record. The only parameter that changed was the zip code where he lived in Florida. The amount of coverage we opted for gave our driver bit more than what is required of state minimums. 

Coverage TypeFlorida MinimumStudy Limits
Body LiabilityNone$50,000 per person/ $100,000 Per Accident
Property Damage$10,000 Per Accident$50,000 Per Accident
Uninsured/Underinsured Motorist BINone$50,000 Per Person/ $100,000 Per Accident
Uninsured/Underinsured Motorist PDNone$50,000 Per Accident
Personal Injury Protection$10,000$10,000
Comprehensive and CollisionNone$500 Deductible

Sources:

Fatal car accident and DUI data: FARS 2011 to 2015.

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