The words “low-cost” and “insurance” probably shouldn’t be used together, in particular when you are shopping around for the best car insurance rates for teenage females. To save some money, let’s get started by showing you a few of the factors that influence insurance rates, and find a few ways to reduce the price of the next policy you buy.
The car, truck, or SUV requiring insurance is one of the primary factors that determines the availability of cheaper insurance for teenage females. Vehicles with economical engines, good crash test ratings, or a track record of few liability claims will cost quite a bit less to insure than high performance models.
The list below estimates auto insurance premiums for a number of the most cost-effective automobiles to insure in Florida.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$10,891|
|Honda Accord EX 4-Dr Sedan||$10,896|
|Ford Escape Limited 2WD||$11,001|
|Ford Edge SE AWD||$12,813|
|Chevrolet Impala LS||$12,820|
|Chevrolet Equinox LS AWD||$12,922|
|Toyota RAV4 Sport 4WD||$12,928|
|Chevrolet Malibu Hybrid||$12,922|
|Ford Explorer Eddie Bauer 4WD||$13,028|
|Dodge Grand Caravan SXT||$13,033|
|Ford F-150 FX4 4WD||$13,028|
|Chevrolet Silverado LS Regular Cab 2WD||$13,195|
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Data variables include single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in vehicle garaging location which can increase or decrease price quotes noticeably.
By looking at the data, we can infer that models like the Honda CR-V, Honda Accord, and Ford Escape are going to be the cheapest vehicles to insure for teen girls. Prices will be more expensive just because there is more risk for teenage females, but generally speaking those vehicles will have the best insurance prices compared to other vehicles.
Deciding which companies have the cheapest auto insurance rates for teenage females will require more time than just getting one or two price quotes. Each auto insurance company has their own process to establish rates, so we will examine the overall cheapest auto insurance companies in Miami.
It’s a good idea to know that Miami, FL auto insurance rates are calculated based on many things which can substantially decrease or increase the cost of coverage. Turning one year older, adding a teenager to your policy, or getting a DUI can trigger changes in premium that can now make some companies cheaper than before.
Cheap Insurance Rates for Teens
USAA quotes some of the best car insurance rates in Miami at around $986 a year. This is $1,462 less than the average rate paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury would also make the list of some of the cheapest Miami, FL insurance companies.
As the rates illustrate above, if you currently have coverage with Progressive and switched to Electric, you may see annual savings of in the neighborhood of $81. Florida drivers with Mercury might save as much as $202 a year, and Travelers insureds might reduce prices by as much as $214 a year.
Bear in mind that those policy rates are averaged for all drivers and vehicles and are not factoring in a specific vehicle garaging location for teenage females. So the company that fits your needs best may not even be in the top 21 companies shown above. That point stresses why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
Discounts on Miami car insurance
Car insurance companies that provide policies for teenage females may also give you special discounts that may potentially lower prices by as much as 35% if you meet specific eligibility requirements. Larger auto insurance companies and a partial list of their discounts are included below.
- State Farm policyholders can earn discounts including safe vehicle, accident-free, multiple autos, driver’s education, good driver, good student, and student away at school.
- GEICO includes discounts for five-year accident-free, federal employee, air bags, driver training, and military active duty.
- Progressive has discounts for online signing, multi-vehicle, online quote discount, continuous coverage, and good student.
- 21st Century may include discounts for automatic seat belts, driver training, air bags, 55 and older, teen driver, and anti-lock brakes.
- American Family offers discounts for air bags, early bird, good student, defensive driver, Steer into Savings, multi-vehicle, and good driver.
- The Hartford discounts include bundle, anti-theft, defensive driver, good student, driver training, and air bag.
- AAA offers discounts including AAA membership discount, multi-car, pay-in-full, good driver, education and occupation, good student, and multi-policy.
The chart below illustrates the difference between car insurance costs with and without discounts applied. The premiums are based on a male driver, no claims or driving citations, Florida state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with passive restraint, paid-in-full, good student, anti-theft, paperless filing, and continuous coverage discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on auto insurance for teenage females is 28% or $843.
The illustration below shows how choosing a deductible can affect insurance prices when searching for cheap insurance for teenage females. The prices are based on a married male driver, comp and collision included, and no discounts are applied.
The chart above illustrates that a 30-year-old driver could lower their policy premium by $432 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $650 by using a $1,000 deductible. Younger drivers, like the 20-year-old example, could shave as much as $1,320 or more just by choosing higher deductibles.
If you do make the decision to raise your deductibles, it’s a good idea to have enough savings set aside to be able to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
How to find economical insurance for teenage females
Lowering your rates is not difficult, and here are many money-saving suggestions that can help you quote more affordable coverage.
- Increase deductibles to save money
- Do not insure for full coverage
- Drive vehicles with five-star safety ratings
- Home or renters coverage can save on auto insurance
- Increase your credit rating
- Don’t have frequent claims
- Shop around once a year for cheaper rates
The final tip is extraordinarily crucial, as was emphasized in this piece. Car insurance rates in Miami vary greatly, so you should be ready to buy a different policy if a more affordable rate is found. Loyalty to a specific company is fine, but it’s not a good idea if that loyalty results in overpaying hundreds of dollars year after year. Take a few minutes and compare rates and find cheaper car insurance for teenage females.