For high risk drivers, one of the more important considerations that determine insurance cost is your address in Miami. Areas with more people or even just a higher incidence of claims will most likely have higher rates, whereas more rural areas tend to receive slightly lower rates.
The information below ranks the most expensive areas in Florida for high risk drivers to purchase car insurance in. Miami is ranked at #3 with the annual price of $3,241 for coverage, which is around $270 per month.
|6||West Palm Beach||$2,599|
|19||Port St. Lucie||$1,994|
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Premium amounts are approximated as the specific Miami residence address can decrease or increase rates noticeably.
Finding reliable, budget car insurance is not easy, and figuring out which company offers the lowest-priced auto insurance rates for high risk drivers takes additional perseverance. Each company uses a different method for filing rates in each state, so to begin we’ll rank the auto insurance companies with the most affordable rates in Miami.
It’s important that readers know that Florida auto insurance rates are impacted by many things which can substantially decrease or increase the cost of coverage. This price variability is why it is critical to compare many different companies to find cheap auto insurance rates for high risk drivers. Auto insurance prices are made up of many factors and can change substantially, so the most economical option three years ago may now be an over-priced policy.
Cheap Insurance Rates for Risky Drivers
|Rank||Company||Cost Per Year|
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USAA normally has some of the cheapest car insurance rates in Miami at around $986 a year. Electric, Amica, Progressive, and Travelers also rank well as some of the more affordable Miami, FL car insurance companies.
In this example, if you are insured with Amica and switched to USAA, you may see an annual premium reduction of around $778. Policyholders with Progressive may save as much as $861 a year, and Travelers insureds might lower prices by up to $940 a year.
To see if you’re overpaying, click here to begin a quote or click through to the companies below.
It’s important to note that these prices are averaged across all insureds and vehicles and are not factoring in a specific vehicle garaging location for high risk drivers. So the insurer that can offer you the lowest price may not even be in the list above. That emphasizes why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.
The car, truck, or SUV you are seeking coverage for is probably the largest consideration that determines if you can find the lowest-priced auto insurance for high risk drivers. Vehicles with high performance, poor safety ratings, or high incidents of liability claims will cost more to insure than more economical and safe models.
The data below illustrates auto insurance costs for some of the cheapest vehicles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$10,822|
|Ford Escape XLT 2WD||$11,330|
|Honda Accord EX 4-Dr Sedan||$11,609|
|Ford Edge SE 2WD||$12,117|
|Chevrolet Silverado LS Regular Cab 4WD||$12,123|
|Jeep Wrangler Sahara 4WD 2-Dr||$12,239|
|Ford Focus SE 4-Dr Sedan||$12,696|
|Nissan Altima 2.5 4-Dr Sedan||$12,818|
|Jeep Grand Cherokee Laredo 2WD||$12,823|
|Volkswagen Jetta LE 4-Dr Sedan||$12,818|
|Ford Explorer Limited AWD||$12,944|
|Dodge Grand Caravan SXT||$12,950|
|Chevrolet Impala LTZ||$13,393|
|Chevrolet Equinox LS AWD||$13,417|
|Toyota RAV4 4WD||$13,424|
|GMC Sierra SL Extended Cab 2WD||$13,417|
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Table data assumes single female driver age 40, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in specific zip code location which can affect auto insurance rates significantly.
Looking at the rates, cars like the Honda CR-V, Ford Escape, Honda Accord, Ford Edge, and Chevrolet Silverado are most likely going to be a few of the most affordable vehicles to insure for high risk drivers. Rates will be higher anyway because of the fact that there is a higher risk for high risk drivers, but in general those specific models will most likely have the best insurance prices compared to other vehicles.
Get discount Miami auto insurance
Auto insurance companies that provide coverage for high risk drivers could also offer discounts that can reduce rates by as much as 35% if you are eligible. A list of companies and a selection of discounts are outlined below.
- State Farm may offer discounts for passive restraint, driver’s education, good student, multiple policy, anti-theft, and accident-free.
- American Family discounts include early bird, good driver, defensive driver, bundled insurance, TimeAway discount, and Steer into Savings.
- AAA includes discounts for AAA membership discount, education and occupation, good driver, good student, and multi-car.
- GEICO offers discounts for air bags, multi-policy, federal employee, emergency military deployment, multi-vehicle, and driver training.
- Mercury Insurance may have discounts that include type of vehicle, accident-free, multi-policy, low natural disaster claims, and multi-car.
- Farmers Insurance offers discounts including switch companies, pay in full, multi-car, early shopping, and distant student.
- Progressive has discounts for multi-policy, good student, online quote discount, homeowner, and continuous coverage.
The diagram below illustrates the difference between insurance costs with and without discounts applied to the premium. The premiums assume a male driver, one violation and two at-fault accidents, Florida state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with vehicle safety, continuous coverage, paperless filing, anti-theft, marriage, and passive restraint discounts applied. When taking advantage of discounts, theaverage yearly reduction on auto insurance for high risk drivers is 29% or $2,028.
The example below demonstrates how deductible levels can raise or lower insurance rates when researching cheap insurance for high risk drivers. The prices are based on a married male driver, comp and collision included, and no discounts are factored in.
As shown above, a 40-year-old driver could lower their policy premium by $348 a year by increasing from a $100 deductible up to a $500 deductible, or save $524 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could roll back prices up to $1,162 or more just by using higher deductibles. When choosing a higher deductible, it will now be necessary to have plenty of money set aside to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Choosing a good quality auto insurance provider can be rather challenging considering how many companies provide coverage in Miami. The company ratings listed below could help you choose which insurers you want to consider purchasing a policy from. These rankings include large insurance companies, so companies that only write business in Florida or surrounding areas are not factored into the list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies