What Auto Insurance is Cheapest for Teenagers in Miami?

Finding dependable, low-priced auto insurance is not the easiest thing to accomplish, and determining which companies offer the lowest-priced insurance rates for teenagers may require more quotes for comparison.

Each company has a proprietary method to determine premium rates, so let’s rank the most competitive insurance companies in Miami.

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Rankings for the cheapest car insurance companies in Florida
Rank Company Cost Per Year
1 USAA $957
2 Amica $1,694
3 Electric $1,712
4 Progressive $1,847
5 Travelers $1,869
6 Allied $1,945
7 Mercury $1,992
8 Esurance $2,040
9 State Farm $2,047
10 GEICO $2,150
11 Auto-Owners $2,171
12 21st Century $2,373
13 Allstate $2,411
14 Windhaven Insurance $2,575
15 MetLife $2,870
16 Safeco $2,927
17 Hanover $3,054
18 Liberty Mutual $3,131
19 United Automobile $3,527
20 Direct General $3,902
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USAA may offer some of the cheapest car insurance rates in Miami at around $957 a year. Amica, Electric, Progressive, and Travelers are also some of the cheapest Miami, FL car insurance companies.

As shown in the rates above, if you are insured with Progressive and switched to USAA, you might see an annual savings of in the vicinity of $890. Drivers with Travelers may save as much as $912 a year, and Allied policyholders might see rate reductions of $988 a year.

Bear in mind that those policy prices are averaged across all types of insureds and vehicles and do not factor in a specific vehicle garaging location for teenagers. So the insurer that is most affordable for your situation may not even be in the list above. That emphasizes why you need to quote rates from many companies using your own specific driver information and vehicle.

The type of vehicle you are trying to insure is one of the primary factors when trying to find the best cheap coverage for teenagers. Vehicles with more horsepower, a lack of modern safety features, or an increased likelihood of liability claims will cost more to insure than more economical and safe models.

The next table shows auto insurance rates for some of the most affordable vehicles to buy coverage for.

Cheapest Vehicles to Insure in Miami, FL
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V EX 2WD $12,994
Ford Escape XLT 4WD $13,121
Jeep Wrangler Sport 4WD 2-Dr $13,692
Toyota Prius $14,040
Ford Edge SE 2WD $14,488
Ford F-150 XL Crew Cab 4WD $14,739
Dodge Grand Caravan Hero $15,410
Toyota Tacoma Double Cab 4WD $15,416
Toyota RAV4 Sport 4WD $15,410
Chevrolet Equinox LS 2WD $15,418
Volkswagen Jetta LE 4-Dr Sedan $15,410
Chevrolet Malibu Hybrid $15,420
Chevrolet Impala LT $15,410
Ford Explorer Eddie Bauer AWD $15,534
Hyundai Elantra Blue 4-Dr Sedan $16,078
Toyota Corolla XLE $16,205
Toyota Camry XLE $16,211
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Above prices assume single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in specific location which can modify premium rates greatly.

Looking at the data, you can see that makes and models like the Honda CR-V, Ford Escape, Jeep Wrangler, Toyota Prius, and Ford Edge are likely to be some of the cheapest vehicles to insure for teen drivers. Auto insurance rates will be more expensive just due to the fact that there is more exposure for teenagers, but generally speaking those specific models will tend to have the lowest insurance rates compared to other types of vehicles.

One of the more important things that determine insurance cost is the neighborhood you call home in Miami. Regions with larger populations or more claims tend to pay more, whereas areas with less people or fewer weather incidents have the luxury of lower rates.

The next table lists the most costly cities in Florida for teenagers in which to purchase auto insurance. Miami is ranked at #3 with an annual cost of $3,177 for the average policyholder, which is around $265 each month.

How much is car insurance in Miami?
Rank City Average Per Year
1 Hialeah $3,488
2 Miami Gardens $3,277
3 Miami $3,177
4 Miami Beach $2,953
5 Miramar $2,709
6 Hollywood $2,630
7 Tampa $2,610
8 West Palm Beach $2,599
9 Fort Lauderdale $2,550
10 Pompano Beach $2,543
11 Coral Springs $2,499
12 Davie $2,473
13 Pembroke Pines $2,407
14 Brandon $2,368
15 St. Petersburg $2,286
16 Clearwater $2,260
17 Spring Hill $2,123
18 Orlando $2,090
19 Port St. Lucie $1,975
20 Jacksonville $1,960
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Rate quotes are comparative as the specific Miami residence address can lower or raise rates substantially.

How to get discounts on Miami car insurance

Discounts on insurance for teenagersCar insurance companies that offer cheap quotes for teenagers could also offer policy discounts that could potentially reduce rates by as much as 35% or more if you can meet the requirements. Larger insurance companies and some of the discounts can be found below.

The illustration below visualizes the comparison of auto insurance rates with and without discounts applied to the policy premium. The prices are based on a male driver, a clean driving record, no at-fault accidents, Florida state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with anti-theft, paid-in-full, paperless filing, good student, passive restraint, and vehicle safety discounts applied. When discounts are applied, the average amount saved each year on insurance for teenagers is 28% or $650.

The chart below demonstrates how choosing different deductibles can increase or decrease yearly insurance costs when trying to find cheap insurance for teenagers. The costs are based on a married male driver, comp and collision included, and no discounts are applied to the premium.

In the chart above, a 50-year-old driver could lower rates by $292 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $440 by using a $1,000 deductible. Younger drivers, like the Age 20 chart data, could roll back prices up to $966 or even more by using a higher deductible. If you do raise deductibles, it is necessary to have enough funds in savings to enable you to pay the extra out-of-pocket expense that is associated with using high deductibles.

Difference between liability only and full coverage rates

Finding cheaper insurance is important to most drivers, and one of the quickest ways to save on the cost of insurance for teenagers is to not buy comprehensive and collision coverage. The information below shows the difference between auto insurance rates when comparing full coverage to liability only. The premiums assume no accidents, no driving violations, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

If averaged for all ages, physical damage insurance costs an extra $1,891 per year more than insuring for liability only. Many drivers may wonder if it’s worth it to buy full coverage. There is no definitive rule that is best for determining when to drop full coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.

Why you should be shopping around

Miami, FL insurance rates are determined by lots of factors which can substantially decrease or increase the cost of a policy. Simply having another birthday, buying another vehicle, or getting a few speeding tickets may generate price changes that may make certain companies more affordable than competitors.

Not only that, but insurers change their prices as often as every three months in order to remain profitable. Heavy losses can cause higher priced premiums, while long-term profits may result in cheaper Miami car insurance rates.

The chart below demonstrates which company has the cheapest car insurance in Miami, FL for a 40-year-old female driver with a clear driving record, no claims, and a high credit rating. When quoting prices based on her current risk profile, USAA may offer the lowest car insurance rates in Miami at $1,904 per year. This is $544 less than the average policy premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are the rest of the cheapest Miami, FL auto insurance companies.

Now let’s give the driver from the above example an accident claim, a lower credit score, and a few traffic violations. Since every car insurance company has a unique formula to establish rates, comparing quotes could now result in a completely different list of the cheapest Miami car insurance companies as shown below.

USAA now has the lowest car insurance rate in Miami, FL with Allied, State Farm, GEICO, and Esurance also being competitive. This illustrates why it is critical to compare rates to find the lowest auto insurance rates for teenagers. Insurance prices are calculated by many factors and change dramatically, so the most affordable company the last time you compared rates may now be quite expensive.