What Auto Insurance is Cheapest for Veterans in Miami?

You have surely seen all the ads from companies like Progressive and Farmers that promise enormous savings. So drivers just need to pick the company with the best ad, right?

It’s not that simple, unfortunately, as there are a lot of unknowns such as how well you maintain your credit, your date of birth, and if you are a homeowner. We are going to cover some of these factors and educate you enough to have a solid foundation to find cheaper car insurance in Miami.

Buying low-priced car insurance is confusing at best, and finding out which companies quote the cheapest auto insurance rates for veterans requires more quotes for comparison.

Every insurance provider has their own unique process to determine premium rates, so to begin we’ll rank the auto insurance companies with the most affordable rates in Florida. It’s a good idea to be aware that Miami, FL auto insurance rates are impacted by many factors that may substantially change the price you pay. Things like getting older, adding a teenager to your policy, or getting a few speeding tickets can trigger rate changes that may make certain companies cheaper than competitors.

Cheapest Insurance Rates for Vets

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Who has the cheapest car insurance in Florida?
Rank Company Cost Per Year
1 USAA $948
2 Electric $1,694
3 Amica $1,712
4 Progressive $1,829
5 Travelers $1,888
6 Mercury $1,914
7 Allied $2,004
8 Esurance $2,082
9 Auto-Owners $2,107
10 State Farm $2,110
11 GEICO $2,150
12 Allstate $2,388
13 21st Century $2,469
14 Windhaven Insurance $2,575
15 Hanover $2,934
16 MetLife $2,988
17 Safeco $3,016
18 Liberty Mutual $3,131
19 United Automobile $3,562
20 Infinity $4,045
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USAA generally has some of the lowest car insurance rates in Miami at around $948 each year. This is $1,500 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers would also be considered some of the more affordable Miami, FL car insurance companies.

In the above rates, if you currently buy coverage from Travelers and switched to Electric, you could earn an annual savings of approximately $194. Florida drivers with Mercury could save as much as $220 a year, and Allied insureds might reduce prices by as much as $310 a year.

If you want to find out if you’re overpaying, click here to start a quote or visit several of the following companies.

These rates are averages across all ages of drivers and types of vehicles and and are not calculated with an exact location for veterans. So the car insurance company that fits your situation best may not even be in the top 21 companies shown above. That underscores the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.

The type of vehicle you are seeking coverage for is one of the biggest factors when comparing quotes for the most economical auto insurance for veterans. Vehicles with higher performance, poor safety ratings, or a history of substantial liability claims will cost significantly more to insure than more modest models. The list below features insurance costs for the most affordable automobiles to buy insurance for.

Cheapest Vehicles to Insure in Miami, FL
Make and Model Estimated Cost for Full Coverage
Ford Escape XLT 4WD $2,767
Hyundai Elantra SE Touring Station Wagon $2,936
Honda CR-V EX 2WD $2,948
Toyota Prius $3,000
Honda Accord LX 4-Dr Sedan $3,024
GMC Sierra SL Extended Cab 2WD $3,197
Chevrolet Equinox LTZ AWD $3,426
Kia Optima LX $3,430
Hyundai Sonata GLS 4-Dr Sedan $3,437
Nissan Rogue S 2WD $3,430
Chevrolet Impala LT $3,486
Toyota RAV4 Sport 4WD $3,496
Chevrolet Malibu Hybrid $3,486
Honda Odyssey EX $3,498
Ford Focus SE 4-Dr Sedan $3,504
Jeep Wrangler Unlimited Sport 2WD 4-Dr $3,522
Honda Civic GX 4-Dr Sedan $3,530
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Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Premium costs do not factor in zip code location which can change premium rates significantly.

Based on these rates, you can conclude that cars like the Ford Escape, Hyundai Elantra, Honda CR-V, and Toyota Prius are most likely to be some of the most economical vehicles to insure for veterans.

Full coverage rates compared to liability-only

Lowering the price of auto insurance is important to the majority of people, and one easy way to save on the cost of insurance for veterans is to only buy liability insurance. The chart below illustrates the difference between car insurance rates with full physical damage coverage compared to only buying liability only. The prices are based on no claims or driving violations, $500 deductibles, drivers are single, and no discounts are taken into consideration.

If all age groups are averaged, full coverage costs $1,961 per year more than carrying just liability coverage. At some point, about every driver wonders when is the right time to remove full coverage. There isn’t a written rule to eliminate comp and collision coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.

There are some scenarios where dropping physical damage coverage is not a good plan. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not eliminate full coverage.

The chart below demonstrates how choosing different deductibles can impact insurance premiums when searching for cheap insurance for veterans. The premium estimates are based on a single male driver, full physical damage coverage, and no other discounts are factored in.

The chart above illustrates that a 40-year-old driver could reduce rates by $476 a year by increasing from a $100 deductible up to a $500 deductible, or save $720 by choosing a $1,000 deductible. Even younger drivers, such as the Age 20 example, could shave $1,582 or even more by choosing a larger deductible amount.

If you do decide to increase your deductibles, it will now be necessary to have enough savings set aside to satisfy the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Ideas to find budget-friendly insurance for veterans

Below you’ll find some of the recommended money-saving solutions that can help Miami drivers find cheaper auto insurance.

That last tip is highly necessary, as was discussed in this article. Auto insurance rates can change significantly in a year, so drivers shouldn’t be reluctant to change to a new company if a better deal can be had. Staying with the same car insurance company is fine, but is isn’t recommended if that loyalty results in overpaying hundreds every year. It only take a few minutes to compare prices and find cheaper insurance for veterans in Miami.

The professional agents shown below are willing to help you determine which auto insurance policy fits you best, as lots of drivers aren’t clear which coverage they need and would like to have the advice of a professional agent when trying to find the best insurance rates for veterans. It can be challenging to find the cheapest auto insurance company, so getting advice from a licensed Florida insurance agent can bring peace of mind knowing your coverage gives you adequate asset protection. To find an auto insurance agency in your neighborhood, click the link at the bottom.

Univista Insurance
5811 W Flagler StMiami, FL 33144(305) 267-7138

AV Insurance Agency Inc
2497 NW 79th StMiami, FL 33147(305) 696-2291

Allstate Insurance: Pamela Brumer
141 Alton RdMiami Beach, FL 33139(305) 531-1223

Globalgreen Insurance Agency
6840 Bird RdMiami, FL 33155(305) 677-8022

Royal Palm Insurance Agency Inc
9900 NW 27th AveMiami, FL 33147(305) 835-6080

View more Miami, FL insurance agents