The words “economical” and “auto insurance” probably shouldn’t be used together, in particular when you are looking for the cheapest coverage for high school students. To help control this cost, let’s go over some of the factors that impact insurance rates, and see if we can help you lower the price of your next policy.
The vehicle model to be insured is a significant factor when comparing the best cheap auto insurance for high school students. Vehicles with reasonable performance levels, excellent safety ratings, or a track record of few liability claims will cost less to insure than high performance models.
The next list estimates coverage prices for the cheapest vehicles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$11,040|
|Honda CR-V LX 4WD||$11,045|
|Hyundai Elantra SE Touring Station Wagon||$11,808|
|Ford Escape Limited 4WD||$11,813|
|Honda Civic DX 4-Dr Sedan||$12,992|
|Chevrolet Impala LS||$12,998|
|Jeep Grand Cherokee Laredo 4WD||$13,090|
|Chevrolet Equinox LT 2WD||$13,096|
|Toyota RAV4 Limited 2WD||$13,090|
|Volkswagen Jetta S 4-Dr Sedan||$13,100|
|Dodge Grand Caravan SXT||$13,192|
|Ford F-150 Lariat Crew Cab 2WD||$13,197|
|Ford Explorer Limited 4WD||$13,192|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$13,197|
|Toyota Camry SE||$13,763|
|Honda Odyssey EX-L W/Rear Entertainment||$13,768|
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Data rating is based on single female 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. Premium amounts do not factor in specific zip code location which can impact rates substantially.
By looking at the data, you can see that makes and models like the Honda Accord, Honda CR-V, Hyundai Elantra, Ford Escape, and Toyota Prius are most likely going to be some of the most affordable vehicles to insure for teenagers. The price for an auto insurance policy will be higher anyway just because there is more claim exposure for high school students, but overall those particular vehicles will tend to have the lowest insurance prices compared to other types of vehicles.
Establishing which company has the best car insurance rates for high school students will require a little more effort than just comparing a company or two. Each auto insurance company has their own process to set their prices, so let’s examine the car insurance companies with the most affordable rates in Miami.
It’s a good idea to know that Miami car insurance rates are impacted by many things which can significantly increase or decrease your annual premium. Simply having another birthday, increasing deductibles, or getting a speeding ticket can trigger rate changes resulting in some companies being more affordable than the competition.
Best Car Insurance Prices for Students
|Rank||Company||Cost Per Year|
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USAA may offer some of the most affordable car insurance rates in Miami at around $977 per year. This is $1,471 less than the average price paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers also make the cut as some of the most economical Miami, FL car insurance companies.
As shown in the table above, if you are insured with Travelers and switched to Amica, you could realize yearly savings of about $176. Insureds with Allied may save as much as $233 a year, and Mercury customers might lower prices by $280 a year.
It’s important to note that these estimates are averages across all insureds and vehicles and and are not figured with a specific zip code for high school students. So the company that can offer you the lowest price may not even be in the top 21 companies shown above. That emphasizes why you need to get auto insurance quotes using your own individual information.
For teenagers, one of the largest components that are looked at to help calculate the price you pay for insurance is your address. Areas with more people or even just a higher incidence of claims will most likely have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.
The illustration below shows the most costly cities in Florida for high school students to purchase a policy in. Miami ranks #3 with an annual rate of $3,145 for car insurance, which is about $262 each month.
|Rank||City||Average Per Year|
|5||West Palm Beach||$2,705|
|20||Port St. Lucie||$1,975|
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Price information shown is estimated as zip code location can influence insurance rates greatly.
How accidents and violations affect rates
In a perfect world, the best way to score the cheapest car insurance prices in Miami for teenagers is to be a good driver and avoid accidents and traffic citations. The diagram below shows how traffic citations and at-fault collisions raise insurance prices for each age group. The information is based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
In the previous chart, the average cost of auto insurance in Florida per year with no accidents and a clean driving record is $1,340. Add in one speeding ticket and the average cost increases to $1,565, an increase of $225 each year. Then include one accident along with the one speeding ticket and the 12-month cost of car insurance for high school students jumps again to an average of $2,185. That’s an increase of $845, or $70 per month, just for not driving attentively!
The example below illustrates how your choice of deductibles can change insurance prices when searching for cheap insurance for high school students. The data assumes a single female driver, comprehensive and collision coverage, and no discounts are applied.
As shown above, a 30-year-old driver could lower their car insurance rates by $512 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $770 by choosing a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could lower their rates as much as $1,148 or more by choosing a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it is important to have plenty of savings on hand to be able to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Types of discounts on Miami insurance
Insurance providers that offer coverage for high school students may also provide discounts that can lower rates by as much as 35% if you meet specific eligibility requirements. A few popular companies and their offered discounts are detailed below.
- Farm Bureau offers premium reductions for driver training, multi-vehicle, renewal discount, 55 and retired, good student, multi-policy, and youthful driver.
- MetLife has discounts for claim-free, defensive driver, good student, good driver, and accident-free.
- Progressive offers discounts including online signing, multi-policy, continuous coverage, online quote discount, homeowner, multi-vehicle, and good student.
- AAA may offer discounts for education and occupation, pay-in-full, multi-policy, good driver, and AAA membership discount.
- American Family policyholders can earn discounts including bundled insurance, Steer into Savings, multi-vehicle, mySafetyValet, and good driver.
- GEICO includes discounts for military active duty, emergency military deployment, air bags, daytime running lights, membership and employees, driver training, and good student.
- State Farm has savings for driver’s education, anti-theft, good student, student away at school, multiple autos, Steer Clear safe driver discount, and Drive Safe & Save.
The diagram below illustrates the comparison of insurance prices with and without discounts applied to the rates. The rates are based on a female driver, no claims, a clean driving record, Florida state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with paperless filing, good student, paid-in-full, continuous coverage, vehicle safety, and anti-theft discounts applied. When taking advantage of discounts, theaverage amount saved on car insurance for high school students is 28% or $823.
If you aren’t sure which coverage to buy and prefer to get some guidance when shopping around for cheaper insurance for teenagers, the agents listed below can probably help you make a decision which insurance coverage you need.
To find a Miami insurance agent close to you, click the button at the bottom of the list.
GEICO Insurance Agent
8514 SW 8th St – Miami, FL 33144 – (305) 595-2911
Cari Insurance Agency Inc.
12890 NW 7th Ave – Miami, FL 33168 – (305) 685-0305
Ekono Insurance Agency
11626 NE 2nd Ave – Miami, FL 33161 – (305) 757-6767
How to find economical insurance for high school students
The list below summarizes a few money-saving ideas that can help Miami drivers quote cheap coverage.
- Avoid filing small claims
- Home or renters coverage can save on auto insurance
- Improve your credit rating
- Get cheaper liability coverage by choosing a safer vehicle
- Increase deductibles to save money
- Drop full coverage on older vehicles
- Shop around once a year for cheaper rates
That last idea is incredibly vital, as was stressed in the article above. Prices charged by companies in Miami can change in a short period of time, so don’t be tentative to switch carriers if a lower price can be found. Staying with the same company for years is fine, but we do not recommend it if your bullheadedness ends up costing you money that could be used for better things. Now is a great time to compare rates and find cheaper insurance for high school students.