Best Cheapest Auto Insurance Quotes in Miami, Florida
Best Cheapest Auto Insurance Quotes in Miami, Florida
Geico is the cheapest insurer in Miami, at just $34 per month for liability-only coverage.
Find Cheap Auto Insurance Quotes in Miami
Best cheap car insurance in Miami
To help you find the best cheap car insurance in Miami, ValuePenguin compared thousands of car insurance quotes from the top companies in Florida. We rated the cheapest companies based on factors like cost, coverage and customer service.
Cheapest auto insurance in Miami: Geico
Geico had the most affordable minimum liability rates for Miami drivers at an average monthly cost of $34 — 72% less than the city average.
The next-cheapest option is State Farm, but it's approximately double the price of Geico’s minimum insurance policy.
Find Cheap Auto Insurance Quotes in Miami
The cheapest auto insurance policy a driver can get is a minimum liability policy, which provides the lowest amount of coverage a state requires drivers to hold in order to legally operate a vehicle. Florida has the second-highest rates for a minimum liability policy in the country.
Cheap auto insurance in Miami
Although the cheapest coverage option is a minimum policy, this may not necessarily be the best for your needs. For example, drivers insured with a liability-only policy are not financially protected from damage caused by storms or hurricanes.
Miami residents who own new vehicles or cars worth more than $5,000 should invest in higher coverage limits and additional protection options.
Cheapest Miami full-coverage quote: Geico
Geico has the cheapest full-coverage insurance in Miami at $149 per month — 51% less than the typical price in Miami overall.
The next-cheapest company is State Farm, which has an average full-coverage policy cost of $182 per month. That's only a $32 monthly difference.
A full-coverage policy is one that includes more of the financial protections offered by a minimum liability policy as well as collision and comprehensive coverage.
Cheap car insurance for drivers with prior incidents
State Farm and Geico offer the best prices to drivers with incidents on their records.
Cheapest car insurance after a speeding ticket: State Farm
State Farm has the best rates in Miami for drivers with a recent speeding ticket. Its average price of $196 per month was 46% less than the citywide average.
Insurance companies have found that people with recent speeding tickets on their records are more likely to file claims in the future, so your insurance bill will go up if you've gotten a ticket this year.
Cheapest insurance in Miami for drivers with accident histories: Geico
Geico has the most affordable car insurance after an at-fault car crash. The typical price of car insurance is $202 per month — 54% less than average.
State Farm's prices were also on the affordable side, at just $212 per month. The average price of car insurance after a crash is $437 per month for full coverage.
Depending on your insurer, you may see a jump in premium costs of up to several thousands of dollars after an accident. That's because drivers who have been at fault in one crash are more likely to make another claim in the future.
Accidents are unpredictable; you never know when you might be involved in one. Having an accident on your record affects your rates tremendously, which is why we recommend comparing car insurance from multiple insurers and looking for extra discounts.
Cheapest car insurance after a DUI: State Farm
State Farm is the best option for DUI insurance in Miami, where coverage costs about $196 per month. Geico is also relatively cheap, at $257 per month.
A DUI is one of the most serious offenses you can have on your record, and the cost of your insurance reflects that. Getting a DUI in Miami will raise your insurance by an average of 34% when compared to a driver with a clean record.
A driver with a DUI in Florida is also likely to need an SR-22 or FR-44. These forms certify to the state that you are carrying car insurance and come with an extra fee — on top of the higher rates you're paying for coverage.
Cheapest car insurance for drivers with poor credit: Geico
Drivers with bad credit in Miami should consider Geico, where an average quote in Miami is $279 per month. That's $237 per month less than the average price.
While your credit score doesn't have anything to do with your driving ability, insurance companies have found that someone with a lower credit score is more likely to make an insurance claim. As such, having worse credit means you'll pay more for car insurance.
Best car insurance for young Miami drivers: Geico
Geico is the best car insurance for younger drivers. Minimum liability coverage is just $80 per month, while full coverage is $374 per month. That puts Geico well below average for each and makes it the cheapest option citywide.
Younger drivers typically pay much higher rates for car insurance than older, more experienced drivers. An 18-year-old Miamian will pay nearly three times as much as a 30-year-old for an identical full-coverage policy.
Young drivers have to navigate the pricey landscape of insurance in Florida, oftentimes with a limited budget. There are a few ways you can make your insurance more affordable.
Here are a few ways to save money on auto insurance:
- Buy a combined or multi-car policy with your family. Ask your parents, or an older driver in your family, if you can sign onto their insurance plan. Having a young person on their policy will increase the cost of their insurance. However, sharing a plan will save you more than $2,000 per year when compared to having separate plans.
- Ask about discounts. Most insurers have a list of discounts drivers can qualify for. If you fulfill the eligibility criteria of multiple discounts, the savings will add up. Be aware that smaller companies have more limited discount offers compared to larger insurers.
- Shop around. Being insured under a large or widely available company isn’t always the best option. Consider looking into small insurers to see if they offer better premium estimates. While they may not offer many discounts, their rates may be cheap enough to compensate.
Best insurance company customer service in Miami, Florida
State Farm and Geico are the best car insurance companies in Miami.
These companies were routinely ranked highly by ValuePenguin editors. They also received relatively few complaints from customers, suggesting people tend to be satisfied with their service.
Miami drivers should consider insurers that have top-ranked customer service. Even if a company has low insurance rates, it may not be enough to make up for long claims processes, lagging or nonexistent response times or rude agents.
Average cost of insurance by Miami area
The average resident of Kendall, one of the most inexpensive areas of Miami for insurance, can expect to pay $273 per month for full coverage, while residents of Westview, one of the most expensive neighborhoods, will pay about $335 per month.
Insurance rates usually fluctuate depending on the area of the city you reside in. Each neighborhood in Miami differs in terms of crime rate, accident rate and population density. As a result, policy prices can vary by more than $1,000 each year.
Average monthly cost
Percent from average
Minimum coverage requirements in Miami, Florida
The minimum car insurance requirement is set by the state of Florida. All Miami drivers are required to have the following coverages to legally drive in the state:
|Personal injury protection (PIP)||$10,000 per accident|
|Property damage liability (PDL)||$10,000 per accident|
Considering Florida’s high insurance rates, it’s understandable that drivers might opt for the minimum amount of coverage, since that is the cheapest option. However, it may not meet your individual needs.
Drivers whose cars are less than 10 years old or worth more than $3,000 should consider opting for additional coverage. If you get into an expensive accident with insufficient coverage, you can end up paying out-of-pocket costs.
We also highly recommend liability coverage, which pays for others' expenses when you're at fault in an accident. Unlike most other states, Florida does not require drivers to carry liability coverage.
Florida’s no-fault law
No-fault states require insurers to provide coverage for medical costs regardless of who is at fault in an accident. Florida is one of these states. This no-fault coverage comes in the form of PIP liability.
PIP covers up to 80% of medical expenses and 60% of lost income if you are unable to work, with a combined limit of at least $10,000.
To find the best cheap car insurance in Miami, we collected quotes from seven of the most popular insurance companies in Florida. Rates are for a 30-year-old single man with good credit and no accident history who drives a 2015 Honda Civic EX.
Full-coverage policies include comprehensive and collision coverage, plus higher liability limits than the state requirement.
|Bodily injury liability||$50,000 per person/$100,000 per accident|
|Property damage liability||$25,000 per accident|
|Personal injury protection||$10,000|
|Uninsured/underinsured motorist bodily injury||$50,000 per person/$100,000 per accident|
|Comprehensive and collision||$500 deductible|
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.