Who Has the Cheapest Auto Insurance for Ride Shares in Miami?

The words “economical” and “insurance” probably shouldn’t be used in the same sentence, especially when you are searching for the lowest insurance rates for college students. To help control this cost, let’s learn about some of the factors that have a considerable impact on auto insurance rates, and come up with some ideas to reduce the cost of your next policy.

One of the more important factors that are looked at to help calculate the annual cost of car insurance is where you call home. More populated areas tend to have more expensive car insurance rates, whereas areas that tend to be more rural tend to receive slightly lower rates.

The illustration below sorts the most costly cities in Florida for college students to purchase auto insurance in. Miami is ranked #3 with the annual price of $3,241 for the average insurance policy, which is approximately $270 each month.

How much is auto insurance in Miami, FL?
Rank City Average Per Year
1 Hialeah $3,630
2 Miami Gardens $3,277
3 Miami $3,241
4 Miami Beach $2,953
5 Miramar $2,683
6 Tampa $2,636
7 West Palm Beach $2,625
8 Fort Lauderdale $2,576
9 Coral Springs $2,574
10 Hollywood $2,552
11 Pompano Beach $2,518
12 Davie $2,448
13 Pembroke Pines $2,407
14 Brandon $2,368
15 St. Petersburg $2,263
16 Clearwater $2,260
17 Spring Hill $2,060
18 Jacksonville $2,040
19 Orlando $2,008
20 Port St. Lucie $1,975
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Annual rates are comparative as the vehicle garaging location can affect insurance rates greatly.

The make and model of vehicle you are insuring is a large factor that determines whether or not you find the most affordable insurance for college students. Vehicles with lots of horsepower, a lack of modern safety features, or a high likelihood of having liability claims will cost substantially more to insure than safer models. The table below outlines auto insurance prices for a handful of the more affordable automobiles to buy coverage for.

Cheapest Vehicles to Insure in Miami, FL
Vehicle Estimated Cost for Full Coverage
Honda Accord LX-P 4-Dr Sedan $3,311
Honda CR-V EX-L 4WD $3,384
Ford Escape Limited 2WD $3,394
Ford Explorer Limited 2WD $3,485
Toyota Tacoma X-Runner 2WD $3,596
Toyota Camry XLE $3,604
Hyundai Elantra SE 4-Dr Sedan $3,596
GMC Sierra SLT Extended Cab 2WD $3,662
Nissan Altima Hybrid 4-Dr Sedan $3,670
Toyota Prius $3,662
Dodge Grand Caravan CV $3,712
Jeep Wrangler Unlimited Rubicon 4WD 4-Dr $3,782
Ford Edge SEL 2WD $3,843
GMC Sierra 2500HD SLE Regular Cab 2WD $3,909
Hyundai Sonata Limited 4-Dr Sedan $3,916
Toyota Camry Hybrid $3,909
Dodge Ram Crew Cab Sport 4WD $3,975
Chevrolet Malibu LT $3,990
Ford Focus SE 4-Dr Sedan $4,110
Chevrolet Impala LS $4,115
Toyota RAV4 2WD $4,195
Ford F-150 Lariat Crew Cab Harley 2WD $4,198
Chevrolet Silverado LT Crew Cab 4WD $4,203
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Prices based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Prices do not factor in specific garaging location which can influence price quotes substantially.

Looking at the numbers, we can conclude that vehicles like the Honda Accord, Honda CR-V, Ford Escape, Ford Explorer, and Toyota Tacoma are some of the cheaper vehicles to insure for students in college.

Buying reasonably-priced car insurance is easier said than done, and determining which companies have the cheapest insurance rates for college students may require a bit more work. Each auto insurer uses different criteria for setting prices, so let’s take a look at the insurance companies with the most affordable rates in Miami, FL.

It’s important that readers know that Miami insurance rates are calculated based on many things that can increase the policy premium. That is why consumers need to take the time to shop around to get affordable car insurance rates for college students. Insurance rates are made up of many things and can decrease or increase without notice, so the most economical option the last time you checked may now be wasting a lot of money.

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What’s the cheapest car insurance in Florida?
Rank Company Cost Per Year
1 USAA $977
2 Electric $1,694
3 Amica $1,746
4 Progressive $1,793
5 Travelers $1,869
6 Allied $1,945
7 Mercury $1,973
8 State Farm $2,047
9 Esurance $2,082
10 GEICO $2,108
11 Auto-Owners $2,149
12 Allstate $2,340
13 21st Century $2,373
14 Windhaven Insurance $2,627
15 MetLife $2,988
16 Safeco $3,016
17 Liberty Mutual $3,039
18 Hanover $3,054
19 United Automobile $3,422
20 Direct General $4,022
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USAA offers some of the lowest car insurance rates in Miami at around $977 annually. This is $1,471 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are also some of the lowest-priced Miami, FL insurance companies.

As shown in the rates above, if you currently have a policy with Amica and switched to USAA, you could earn yearly savings of in the vicinity of $769. Florida drivers with Progressive might save as much as $816 a year, and Travelers policyholders might reduce rates by $892 a year.

These policy rates are averages for all insureds and vehicles and do not take into consideration a specific vehicle garaging location for college students. So the company that fits your situation best may not even be in the list above. That’s why you need to get rate quotes from many companies using your own specific driver and vehicle information.

Discounts on Miami auto insurance

Discounts on insurance for college studentsAuto insurance companies that provide policies for college students may also provide rate discounts that can lower rates by as much as 30% if you meet specific criteria. A few popular companies and a selection of discounts are detailed below.

The diagram below illustrates the comparison of insurance costs with and without discounts applied to the policy premium. The data assumes a female driver, no claims or driving citations, Florida state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with multiple vehicle, defensive driving course, vehicle safety, multiple policy, passive restraint, and marriage discounts applied. When these discounts are applied, the average savings per year on insurance for college students is 28% or $574.

What is the best insurance company in Florida?

Selecting the right auto insurance company can be rather challenging considering how many companies provide coverage in Florida. The ranking data below could help you pick which providers to look at when comparing auto insurance rates for college students.

The ratings below only include the largest auto insurers in America, so companies that may only write in Florida are not factored into these rankings. If you’d like to compare prices and find the cheapest rates for college students, just click here.

Top 10 Large Auto Insurance Providers in Miami Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Top 10 Large Auto Insurance Providers in Miami Ranked by Customer Service

  1. USAA
  2. Travelers
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Safeco Insurance
  7. Progressive
  8. State Farm
  9. The Hartford
  10. The General

The diagram below illustrates how choosing a deductible can raise or lower premium costs when researching cheap insurance for college students. The data is based on a single female driver, full physical damage coverage, and no policy discounts are applied.

As shown above, a 50-year-old driver could pocket $448 a year by switching from a $100 deductible to a $500 deductible, or save $674 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old, could shave up to $1,148 or more by choosing larger deductibles on their policy. When raising deductibles, it will be required to have enough savings set aside to satisfy the extra out-of-pocket expense. That is the one drawback of using higher deductibles.