Who Has the Cheapest Car Insurance for a Chevrolet Equinox in Miami?

Buying competitive car insurance for a Chevrolet Equinox depends on a whole bunch of factors such as whether you are married, your credit score, and if you have tickets or violations. Florida drivers pay around $1,343 each year for Equinox insurance, but that cost is based on a 40-year-old single female driver with full physical damage coverage and $500 deductibles.

The issue with using an average estimated rate is the likelihood you’re not a 40-year-old female, you might be married instead of single, or you just want cheap liability insurance instead of full coverage. There is no perfect policy for every driver, so the only way to find the cheapest coverage for your Chevrolet is to just compare rates yourself.

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The trim level of your vehicle can impact the cost of coverage, so the rate you pay to insure a Equinox LS 2WD will be $122 less than the price to insure the fancier Equinox LTZ AWD version, as shown in the table below.

Chevrolet Equinox Insurance Rates in Miami, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $252 $494 $542 $32 $162 $1,482 $124
Equinox LT 2WD $252 $494 $542 $32 $162 $1,482 $124
Equinox LS AWD $252 $494 $542 $32 $162 $1,482 $124
Equinox LT AWD $252 $494 $542 $32 $162 $1,482 $124
Equinox LTZ 2WD $284 $584 $542 $32 $162 $1,604 $134
Equinox LTZ AWD $284 $584 $542 $32 $162 $1,604 $134
Equinox LTZ AWD $284 $584 $542 $32 $162 $1,604 $134
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Information does not factor in Miami location which can change auto insurance rates significantly.

Buying low-cost car insurance is not easy, and deciding which companies offer the best auto insurance rates for a Chevrolet Equinox may require even more rate comparisons. Each insurance company has their own unique process for establishing rates, so first we will examine the most competitive auto insurance companies in Miami, FL.

It’s important that you understand Miami auto insurance rates are based on many factors that will increase or decrease the price you have to pay for coverage. This is why consumers need to take the time to compare rates when trying to get the most economical auto insurance quotes for a Chevrolet Equinox. Auto insurance prices are determined by many different factors and can change without notice, so the cheapest rate the last time you compared rates may now not even be in the top five.

Best Car Insurance Prices for Your Equinox

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Cheapest Florida car insurance ranked by price
Rank Company Cost Per Year
1 USAA $977
2 Electric $1,746
3 Amica $1,746
4 Progressive $1,775
5 Mercury $1,914
6 Travelers $1,926
7 Allied $2,004
8 Esurance $2,020
9 State Farm $2,047
10 Auto-Owners $2,107
11 GEICO $2,150
12 Allstate $2,411
13 21st Century $2,469
14 Windhaven Insurance $2,575
15 MetLife $2,870
16 Hanover $2,964
17 Safeco $2,987
18 Liberty Mutual $3,039
19 United Automobile $3,457
20 Direct General $3,902
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USAA may offer some of the cheapest car insurance rates in Miami at around $977 per year. Electric, Amica, Progressive, and Mercury are also some of the best Miami, FL car insurance companies.

As the example above demonstrates, if you buy coverage from Amica and switched to USAA, you could see a yearly savings of about $769. Insureds with Progressive may save as much as $798 a year, and Mercury policyholders might see rate reductions of $937 a year.

Understand that those premium estimates are averaged for all drivers and vehicles and and are not figured with an exact vehicle garaging location for a Chevrolet Equinox. So the car insurance company that fits you best may not even be in the list above. That point stresses why you need to quote rates from many companies using your own specific driver information and vehicle.

How much more does full coverage cost in Miami?

Saving money on auto insurance is probably important to the majority of drivers, and one of the best ways to lower the cost of insurance for a Chevrolet Equinox is to only buy liability insurance. The information below compares insurance rates with liability coverage only compared to full coverage. The information is based on no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no policy discounts are applied.

If we average all the age groups together, comp and collision coverage costs $2,066 per year more than just buying liability insurance. That proposes the question if paying for full coverage is a waste of money. There is no set rule of when to stop paying for physical damage coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.

For example, let’s assume your vehicle’s settlement value is $10,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $9,000 after you pay the deductible. If premiums are more than $900 a year to have full coverage, then you may need to consider dropping full coverage.

There are some circumstances where dropping physical damage coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not eliminate full coverage.

Don’t make the mistake of not shopping around

Miami, FL auto insurance rates are calculated based on many things that control the cost of coverage. Simply turning a year older, increasing deductibles, or getting into an accident can trigger changes in premium that can make some companies much cheaper than others.

In addition to those changes, auto insurance companies amend premium rates as often as every three months to adjust for heavy claims or excess profits. Heavy losses can cause increased rates, while lower claim expenses can result in cheaper Equinox insurance rates.

The data below compares the cheapest car insurance in Miami, FL for a 30-year-old male driver with a clear driving record, no claims, and excellent credit. If we look at prices based on his current risk profile, USAA might offer the lowest car insurance rates in Miami at $1,866 a year. This is $582 less than the average policy premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Mercury are the remainder of the cheapest Miami, FL auto insurance companies.

Now we will pretend the driver in the first example a couple of claims, less-than-perfect credit, and a traffic citation. Since every car insurance company uses their own calculation for filing rates in each state, analyzing rate quotes may result in a slightly different list of companies as shown below.

USAA now has the best price on car insurance in Miami with Allied, Esurance, State Farm, and Auto-Owners now being in the top five. This illustrates why it is so important to take the time to shop around when trying to find cheap insurance quotes for a Chevrolet Equinox. Prices are influenced by many factors and change frequently, so the best company two years ago may now be quite expensive.

If you prefer to have some professional guidance when buying car insurance for a Chevrolet Equinox, the agents listed below can help you make a decision which policy fits your needs best.

To locate an agency close to where you live, click the button at the bottom or click here to compare prices now.

Allstate Insurance: Ramon Balladares
2455 SW 27th Ave #210Miami, FL 33145(305) 859-8556

CHECKMARK INSURANCE AGENCY – Auto and Homeowners Insurance Agents
1375 NW 36th StMiami, FL 33142(305) 638-1280

Cari Insurance Agency Inc.
12890 NW 7th AveMiami, FL 33168(305) 685-0305

Alhambra Insurance
932 SW 67th AveMiami, FL 33144(305) 774-9210

Find a Miami, FL insurance agent near you

How to find more affordable auto insurance for a Chevrolet Equinox

The list below summarizes many thrifty solutions that can help Florida drivers buy cheap auto insurance.

That last piece of advice is extremely necessary, as we emphasized in the prior article. Car insurance rates fluctuate considerably, so don’t be tentative to buy from a different company if a better deal can be had. Having brand loyalty is commendable, but it isn’t a good idea if your bullheadedness ends up costing you a fortune every year. It only take a few minutes to compare rates and find cheaper insurance for a Chevrolet Equinox in Miami.