Establishing which company quotes the best auto insurance rates for unemployed drivers calls for a little more effort than just comparing a company or two. Every insurance provider uses their own calculation for setting rates, so let’s rank the lowest cost auto insurance companies in Miami, FL.
Best Insurance Companies for Job Seekers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $957 |
| 2 | Electric | $1,764 |
| 3 | Amica | $1,764 |
| 4 | Progressive | $1,793 |
| 5 | Allied | $1,926 |
| 6 | Travelers | $1,926 |
| 7 | Mercury | $1,933 |
| 8 | Esurance | $2,040 |
| 9 | State Farm | $2,047 |
| 10 | Auto-Owners | $2,085 |
| 11 | GEICO | $2,086 |
| 12 | 21st Century | $2,373 |
| 13 | Allstate | $2,411 |
| 14 | Windhaven Insurance | $2,653 |
| 15 | MetLife | $2,870 |
| 16 | Safeco | $2,898 |
| 17 | Hanover | $2,964 |
| 18 | Liberty Mutual | $3,131 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $4,022 |
| Compare Rates Now Go | ||
USAA may offer some of the cheapest car insurance rates in Miami at around $957 a year. Electric, Amica, Progressive, and Allied also make the cut as some of the cheaper Miami, FL car insurance companies.
In the rate table above, if you are currently insured with Progressive and switched to USAA, you could earn savings of roughly $836. Insureds with Allied might save as much as $969 a year, and Travelers policyholders might cut rates by $969 a year.
To find the cheapest coverage for you, click here to start your custom quote or feel free to get quotes from the companies below.
Remember that these premium estimates are averaged for all drivers and vehicles and and are not figured with an exact vehicle garaging location for unemployed drivers. So the company that fits you best may not even be in the top 21 companies shown above. That illustrates why you need to get rate quotes using your own specific driver and vehicle information.
For the unemployed, one of the more important things that aid in calculating insurance cost is the neighborhood you call home. Areas with increased crime or more people will most likely pay more, whereas areas with less crime or weather claims tend to receive cheaper rates.
The following table shows the highest-priced places in Florida for unemployed drivers to purchase car insurance in. Miami is ranked #3 with an annual cost of $3,145 for car insurance, which is about $262 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Hialeah | $3,630 |
| 2 | Miami Gardens | $3,149 |
| 3 | Miami | $3,145 |
| 4 | Miami Beach | $2,923 |
| 5 | Miramar | $2,683 |
| 6 | Hollywood | $2,604 |
| 7 | West Palm Beach | $2,599 |
| 8 | Pompano Beach | $2,595 |
| 9 | Tampa | $2,558 |
| 10 | Davie | $2,548 |
| 11 | Coral Springs | $2,499 |
| 12 | Fort Lauderdale | $2,475 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,322 |
| 15 | St. Petersburg | $2,263 |
| 16 | Clearwater | $2,238 |
| 17 | Spring Hill | $2,123 |
| 18 | Orlando | $2,090 |
| 19 | Jacksonville | $1,980 |
| 20 | Port St. Lucie | $1,916 |
| 21 | Lakeland | $1,845 |
| 22 | Cape Coral | $1,841 |
| 23 | Palm Bay | $1,750 |
| 24 | Tallahassee | $1,731 |
| 25 | Gainesville | $1,646 |
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Prices are approximated as the garaging address in Miami can influence rates substantially.
Full coverage rates compared to liability only
Reducing premiums for auto insurance is the goal of most drivers, and one of the quickest ways to lower the cost of insurance for unemployed drivers is to not insure for full coverage. The diagram below shows the difference between auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
Averaged for all age groups, physical damage coverage on your policy costs an extra $2,656 per year more than just buying liability insurance. That is a significant amount which raises the question if paying for full coverage is a waste of money. There is no definitive guideline of when to phase out physical damage coverage, but there is a general convention. If the annual cost of coverage is more than about 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s say your vehicle’s settlement value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $10,500 after you pay the deductible. If you are paying in excess of $1,050 annually for your policy with full coverage, then it may be the right time to buy liability only.
The illustration below illustrates how choosing a deductible can impact insurance costs when searching for cheap insurance for unemployed drivers. The rates are based on a single male driver, comp and collision included, and no discounts are factored in.
The data above shows that a 30-year-old driver could reduce rates by $384 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $582 by choosing a $1,000 deductible. Even younger insureds, like the Age 20 category, can save $1,126 annually by using higher deductibles when buying full coverage. If you make the decision to raise deductibles, it is essential to have enough spare savings to offset the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Insuring your vehicle with a good quality company can be a challenge considering how many different insurance companies sell coverage in Florida. The rank data in the lists below can help you decide which car insurance providers you want to consider comparing rate quotes with. These rankings are only made up of the largest companies in the United States, so smaller companies that only insure vehicles in Florida are not included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
If you aren’t sure which coverage to buy and prefer to have some advice when buying car insurance for unemployed drivers, the professional agents shown below can probably help you make a decision which auto insurance coverages would be the best in your situation. To find an auto insurance agency in your neighborhood, click the link after the list or click here to compare price quotes.
Clark Alvarado – State Farm Insurance Agent
5209 NW 36th St – Miami Springs, FL 33166 – (305) 887-9543
Tadeo Insurance Agency, Inc.
9120 SW 40th St – Miami, FL 33165 – (305) 553-1760
Okay Insurance Agency
7293 W Flagler St – Miami, FL 33144 – (305) 267-7232
AV Insurance Agency Inc
2497 NW 79th St – Miami, FL 33147 – (305) 696-2291
JM Private Insurance Agency
7274 SW 48th St – Miami, FL 33155 – (305) 908-1832
View more Miami, FL insurance agencies
How to find the cheapest insurance for unemployed drivers
The list below shows some of the recommended money-saving ideas that can help you buy cheaper car insurance.
- Buying your home and auto policies from the same company can earn a discount
- Raise physical damage deductibles
- Choose a safer vehicle and pay lower rates
- Having too many claims will increase rates substantially
- Older vehicles may not need full coverage
- Pay cheaper rates with good credit scores
- Shop around for cheaper prices
The last idea is certainly important, as we hit on in the prior article. Insurance rates can be modified anytime, so don’t hesitate to buy a different policy if a better rate can be found. Many drivers prefer to stick with one company, but it isn’t a good idea if your bullheadedness ends up costing you money that could be used for better things. Now is a great time to compare prices and find cheaper insurance for unemployed drivers in Miami.