Who Has the Cheapest Miami Car Insurance Rates for a Honda CR-V?

Finding cheaper coverage for a Honda CR-V is fairly simple, but it is dependent upon lots of different rating factors such as whether you are male or female, your claims history, and your policy deductibles. Drivers will pay around $1,195 annually to insure their CR-V, but that amount is an approximation based upon a 40-year-old single male driver with full physical damage coverage and $250 deductibles.

There is a good probability you aren’t exactly 40 years old or even a male, married instead of single, and you might want liability-only or different deductibles. There is no perfect policy for every driver, so the best way to find cheap auto insurance rates for your Honda is to do the rate comparisons yourself.

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The trim level of your CR-V tends to impact the yearly cost, so the price you will be charged to insure a CR-V LX 2WD model will be $40 cheaper than the cost to insure the more well-appointed CR-V EX-L 4WD model, as shown below.

Honda CR-V Insurance Rates in Miami, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $276 $514 $430 $26 $128 $1,374 $115
CR-V EX 2WD $276 $514 $430 $26 $128 $1,374 $115
CR-V LX 4WD $276 $514 $430 $26 $128 $1,374 $115
CR-V EX 4WD $316 $514 $430 $26 $128 $1,414 $118
CR-V EX-L 2WD $316 $514 $430 $26 $128 $1,414 $118
CR-V EX-L 4WD $316 $514 $430 $26 $128 $1,414 $118
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Price information does not factor in zip code location which can change premium rates noticeably.

Finding good, cost effective car insurance is not always easy, and finding out which company offers the most affordable car insurance rates for a Honda CR-V calls for a little more work. Each insurance company has their own guidelines to set policy rates, so let’s take a look at the car insurance companies with the overall best prices in Florida.

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Cheapest auto insurance in Florida ranked by cost per year
Rank Company Cost Per Year
1 USAA $986
2 Electric $1,694
3 Amica $1,746
4 Progressive $1,775
5 Travelers $1,888
6 Mercury $1,933
7 Allied $1,985
8 Esurance $2,040
9 State Farm $2,068
10 Auto-Owners $2,085
11 GEICO $2,172
12 21st Century $2,397
13 Allstate $2,411
14 Windhaven Insurance $2,549
15 Safeco $2,927
16 Hanover $2,934
17 MetLife $2,958
18 Liberty Mutual $3,009
19 United Automobile $3,562
20 Direct General $4,062
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USAA normally has some of the best car insurance rates in Miami at around $986 per year. This is $1,462 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also rank well as some of the most economical Miami, FL car insurance companies.

In this example, if you buy coverage from Electric and switched to USAA, you may realize annual savings of about $708. Customers with Amica might save as much as $760 a year, and Progressive customers might cut rates by $789 a year.

To see if your current coverage is too expensive, click here to get quotes or click several companies below for low rates.

Remember that these estimates are averages for all insureds and vehicles and do not factor in an exact location for a Honda CR-V. So the auto insurance company that has the cheapest price for you may not even be in the top 21 companies in the list above. That affirms the importance of why you need to compare as many prices as possible using your own individual information.

Cost comparison with and without full coverage

Saving on car insurance is important to the majority of vehicle owners, and one good way to reduce the cost of insurance for a Honda CR-V is to buy liability only. The illustration below illustrates the difference between car insurance costs with and without physical damage coverage. The premiums are based on no violations or accidents, $100 deductibles, single status, and no other discounts are factored in.

If we average the cost for ages 20 through 70, full coverage costs an additional $2,385 per year more than buying just liability insurance. That is a large expense which might make you wonder when is the right time to remove full coverage. There is no written rule for eliminating physical damage coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let’s assume your vehicle’s settlement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $10,500 after you pay the deductible. If you are paying in excess of $1,050 annually to have full coverage, then it may be the right time to buy liability only.

The benefits of price comparisons

Florida car insurance rates are calculated based on many things that can increase the price you pay. Improving your credit rating, buying a home, or having a fender bender may generate price changes that can cause some rates to be cheaper than others. Not only may things change on your end, but insurers change prices every year as an adjustment for underwriting gains or losses. Heavier than normal losses may result in higher priced premiums, while profitable underwriting may result in cheaper CR-V insurance rates.

To illustrate this point, the chart below shows a variety of companies that have the cheapest car insurance in Miami, FL for a 35-year-old female driver with a good driving record, no prior claims, and a good credit history. If we compare prices based on her current situation, USAA offers the best car insurance rates in Miami at $1,922 annually. This is $526 less than the average rate paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Allied are the remainder of the best Miami, FL auto insurance companies.

Now we will give the driver from the first set of rates a claim surcharge, slightly worse credit, and a traffic citation. Since each auto insurer uses their own calculation to determine rates, comparing prices may now result in a significantly different list of the cheapest car insurance companies in Miami as shown below.

USAA now has the best insurance rate in Miami, FL with Mercury, Esurance, State Farm, and Auto-Owners also being competitive. This example demonstrates why it is crucial to shop around with many companies to find the most budget-friendly car insurance quotes for a Honda CR-V. Insurance prices are calculated by many risk factors and change frequently, so the cheapest rate a year ago may now be one of the more expensive options.

How to find more affordable auto insurance for a Honda CR-V

Here are many money-saving solutions that can help you locate cheaper coverage.

That final tip is certainly critical, as was discussed in this piece. Rates can be modified anytime, so don’t be afraid to change insurance companies if you can save money.

Brand loyalty is not necessarily bad, but it’s not a good idea if that loyalty results in overpaying lots of money. Take a few minutes and shop around to find cheaper car insurance for a Honda CR-V in Miami.

The professional agents shown below are a good start to help you decide which policy is best, since lots of drivers aren’t clear which coverage they need and would like to get some guidance when shopping for the best coverage for a CR-V. It’s not always simple to find the best policy yourself, and a professional agent can provide peace of mind knowing your coverage gives you adequate protection in case of an accident or claim.

To find an auto insurance agency by location nearest to you, click the button after the list or click here to get price quotes now.

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