Finding decent, reasonably-priced car insurance is difficult, and figuring out which company has the lowest-priced auto insurance rates for electric cars involves even more diligence.
Each auto insurer has their own process for establishing rates, so let’s rank the most budget-friendly auto insurance companies in Miami, FL.
Find Cheaper Car Insurance for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $977 |
| 2 | Amica | $1,694 |
| 3 | Electric | $1,746 |
| 4 | Progressive | $1,829 |
| 5 | Travelers | $1,926 |
| 6 | Allied | $1,945 |
| 7 | Mercury | $1,973 |
| 8 | State Farm | $2,068 |
| 9 | Auto-Owners | $2,085 |
| 10 | Esurance | $2,102 |
| 11 | GEICO | $2,108 |
| 12 | Allstate | $2,388 |
| 13 | 21st Century | $2,445 |
| 14 | Windhaven Insurance | $2,653 |
| 15 | MetLife | $2,870 |
| 16 | Safeco | $2,898 |
| 17 | Hanover | $2,934 |
| 18 | Liberty Mutual | $3,101 |
| 19 | United Automobile | $3,527 |
| 20 | Direct General | $4,022 |
| Find Cheaper Rates Go | ||
USAA normally has some of the lowest car insurance rates in Miami at around $977 a year. Amica, Electric, Progressive, and Travelers also rank well as some of the cheapest Miami, FL car insurance companies.
In this example, if you have coverage with Amica and switched to USAA, you might realize annual savings of upwards of $717. Policyholders with Electric might save as much as $769 a year, and Progressive customers might see rate reductions of $852 a year.
It’s important to note that these policy prices are averages for all drivers and vehicles and and are not figured with an exact location for electric cars. So the auto insurance company that fits your needs best may not even be in the top 21 companies in the list above. That points out the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
The car, truck, or SUV on the policy is one of the largest considerations when looking for economical coverage for electric cars. Vehicles with more horsepower, poor safety ratings, or a high likelihood of having liability claims will cost quite a bit more to insure than safer, lower-performance models.
The list below outlines auto insurance costs for some of the cheapest vehicles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Edge SE 2WD | $3,438 |
| Toyota Tacoma 4WD | $3,510 |
| Honda Accord EX 4-Dr Sedan | $3,586 |
| Chevrolet Impala LS | $3,630 |
| Ford Escape XLT 4WD | $3,667 |
| Chevrolet Silverado LT Extended Cab 4WD | $3,703 |
| Chevrolet Equinox LS AWD | $3,708 |
| Ford Focus SES 4-Dr Sedan | $3,823 |
| Hyundai Elantra GLS Touring Station Wagon | $3,839 |
| Honda CR-V EX-L 4WD | $3,932 |
| Honda Odyssey Touring | $3,964 |
| Chevrolet Malibu LTZ | $3,973 |
| GMC Sierra 2500HD SLE Crew Cab 4WD | $3,964 |
| Find Cheaper Rates Go | |
Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Price estimates do not factor in specific location information which can affect premiums considerably.
Based upon the rates shown, you can assume that models like the Ford Edge, Toyota Tacoma, and Honda Accord are most likely going to be some of the most affordable vehicles to insure for eco-friendly vehicles.
For eco-friendly vehicles, one of the big components that are used to help calculate the annual cost of car insurance is your zip code in Miami. Cities with larger populations tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims can boast about having cheaper rates.
The information below rates the most costly cities in Florida for electric cars in which to buy car insurance. Miami is listed at #3 costing $3,177 for the average policyholder, which is approximately $265 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Hialeah | $3,488 |
| 2 | Miami Gardens | $3,181 |
| 3 | Miami | $3,177 |
| 4 | Miami Beach | $2,953 |
| 5 | Hollywood | $2,630 |
| 6 | West Palm Beach | $2,625 |
| 7 | Pompano Beach | $2,620 |
| 8 | Miramar | $2,603 |
| 9 | Coral Springs | $2,574 |
| 10 | Tampa | $2,558 |
| 11 | Fort Lauderdale | $2,550 |
| 12 | Pembroke Pines | $2,481 |
| 13 | Davie | $2,473 |
| 14 | Brandon | $2,368 |
| 15 | Clearwater | $2,260 |
| 16 | St. Petersburg | $2,196 |
| 17 | Spring Hill | $2,123 |
| 18 | Orlando | $2,069 |
| 19 | Jacksonville | $2,020 |
| 20 | Port St. Lucie | $1,916 |
| Compare Rates Now Go | ||
Rates are comparative as specific Miami garaging address can raise or lower coverage rates substantially.
Liability-only versus full coverage
Buying cheaper auto insurance is important to most vehicle owners, and one of the easiest ways to buy cheap insurance for electric cars is to buy only liability coverage. The diagram below illustrates the difference between auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Florida. The price estimates are based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage on your policy costs $2,330 per year over liability only. That is a large expense which might make you wonder if buying full coverage is worth the money. There isn’t a written rule for excluding physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
Which auto insurance company is best in Florida?
Ending up with the top car insurance company can be challenging considering how many different companies insure vehicles in Florida. The ranking data in the next section may help you select which coverage providers you want to consider when comparing rates.
The ratings below are only made up of companies that insure vehicles nationwide, so companies with more of a regional focus are not included in this list. To compare prices from these and other competitive companies, simply click here.
| 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 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Types of discounts on Miami auto insurance
Insurance providers that offer quotes for electric cars may also offer special discounts that could reduce prices by 40% or more if you qualify for them. A list of companies and a selection of discounts are outlined below.
- Farmers Insurance may have discounts that include good student, early shopping, business and professional, youthful driver, teen driver, and pay in full.
- State Farm has savings for anti-theft, student away at school, driver’s education, good student, and safe vehicle.
- Liberty Mutual discounts include new vehicle discount, new graduate, preferred payment discount, multi-car, and multi-policy.
- MetLife policyholders can earn discounts including defensive driver, good driver, multi-policy, accident-free, good student, and claim-free.
- Progressive has discounts for homeowner, good student, online signing, continuous coverage, and online quote discount.
The illustration below compares insurance costs with and without discounts. The rate quotes are based on a male driver, no claims or violations, Florida state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with vehicle safety, passive restraint, safe-driver, accident-free, homeowner, and multiple vehicle discounts applied. When these discounts are applied to the policy premium, theamount saved on auto insurance for electric cars is 28% or $827.
The professional agents shown below can most likely help you determine which policy fits your needs best, as some drivers have questions and prefer to have a consultation when shopping for the best coverage for electric cars. It can be hard to find the cheapest auto insurance company, and a licensed agent can provide you satisfaction knowing you have suitable coverage if you ever need to use it. To find an agent in your neighborhood, click the link after the list or click here to compare price quotes now.
- Koski and Co. Insurance Agents
9875 Sunset Dr – Miami, FL 33173 – (305) 595-2127 - AV Insurance Agency Inc
2497 NW 79th St – Miami, FL 33147 – (305) 696-2291 - Estrella Insurance #101
3750 W Flagler St – Miami, FL 33134 – (305) 446-6822 - Exclusive Insurance Agency Inc.
7175 SW 8th St #203 – Miami, FL 33144 – (305) 263-4855 - GreatFlorida Insurance – Westchester Insurance Agency
8833 Bird Rd – Miami, FL 33165 – (786) 409-2211
View map of Miami, FL insurance agents
How to find budget-friendly insurance for electric cars
It’s not impossible to find cheaper rates, and here are many penny-pinching ideas that can help Miami drivers quote low-cost auto insurance.
- Increase your physical damage deductibles
- Maintain a safe distance and avoid accidents
- Tickets and violations raise rates
- Improve your credit
- Choose a safer vehicle and pay lower rates
- Keep rates low by shopping around frequently
The last item on the list is certainly vital, as we emphasized in this article. Prices charged by companies can change considerably based on profitability, so don’t be tentative to switch carriers if a lower-cost policy is available. Having a favorite company is fine, but we do not recommend it if that inflexibility results in costing you a small fortune year after year. Now is a great time to compare prices and find cheaper insurance for electric cars in Miami.