Wouldn’t it be easy if we could instantly tell you the one best car insurance company that has the cheapest car insurance rates for a learners permit? It’s not that easy, however, as there are a whole bunch of unknown aspects like if you need full coverage or liability-only, if you are a man or woman, and any tickets or violations. We will try to teach you about the best ways to avoid overpriced car insurance and will hopefully give the reader a good beginning to your quest for cheaper car insurance.
One of the more important considerations that are looked at to determine the amount you pay for auto insurance is the neighborhood you call home. Areas with a lot of weather claims or more people tend to pay slightly more, whereas areas with lower crime rates and fewer weather claims benefit from lower rates.
The table below rates the priciest cities in Florida for a learners permit in which to purchase auto insurance. Miami is listed at #2 having an annual price of $3,273 for the average insured, which is about $273 monthly.
|Rank||City||Average Per Year|
|6||West Palm Beach||$2,599|
|19||Port St. Lucie||$1,975|
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Rates are estimated as specific Miami zip code can influence premium rates considerably.
The vehicle model requiring insurance is probably the biggest factor when quoting the best cheap car insurance for a learners permit. Vehicles with high performance, poor crash test ratings, or a history of substantial liability claims will cost significantly more to insure than safer models. The data below outlines auto insurance rates for a handful of the cheapest vehicles to insure in Florida.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$11,146|
|Honda CR-V LX 4WD||$11,151|
|Hyundai Elantra SE Touring Station Wagon||$11,989|
|Jeep Wrangler Rubicon 4WD 2-Dr||$12,498|
|Ford F-150 XL Super Cab 4WD||$12,507|
|Ford Focus S 4-Dr Sedan||$13,109|
|Honda Odyssey EX W/Rear Entertainment||$13,119|
|Ford Edge SE AWD||$13,109|
|Ford Fusion S 4-Dr Sedan||$13,225|
|Nissan Altima 2.5 4-Dr Sedan||$13,232|
|Toyota RAV4 2WD||$13,225|
|Chevrolet Equinox LT 2WD||$13,235|
|Chevrolet Malibu Hybrid||$13,225|
|Dodge Grand Caravan Crew||$13,341|
|Toyota Tacoma Double Cab 4WD||$13,350|
|Ford Explorer Limited 2WD||$13,341|
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Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in your specific Miami, FL location which can impact premiums noticeably.
Looking at the numbers, we can tell that models like the Ford Escape, Honda CR-V, Hyundai Elantra, and Toyota Prius are going to be some of the most budget-friendly vehicles to insure for new drivers. Auto insurance rates will trend higher just due to the fact that there is more liability exposure for a learners permit, but in general those models will tend to have the best insurance prices that you are likely to find.
Liability-only versus full coverage
Reducing the cost of auto insurance is important to the majority of vehicle owners, and one of the easiest ways to pay lower rates for insurance for a learners permit is to buy liability only. The illustration below illustrates the comparison of insurance premiums with full coverage compared to only the Florida minimum liability coverage. The prices are based on no accidents, no driving violations, $100 deductibles, single marital status, and no discounts are factored in.
As an average, physical damage coverage on your policy costs an extra $3,253 per year over having just liability coverage. That is a significant amount which raises the question if buying full coverage is worth the money. There is no definitive guideline of when to stop paying for physical damage insurance, but there is a general convention. If the yearly cost of full coverage is more than 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let’s say your vehicle’s replacement cost is $10,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $9,000 after paying your policy deductible. If you are paying in excess of $900 annually to have full coverage, then you might consider buying liability only.
There are some cases where buying only liability insurance is not advised. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
Responsible drivers pay cheaper Miami auto insurance rates
The common sense way to earn low auto insurance rates for new drivers is to be a cautious driver and not have accidents or get tickets. The example below illustrates how speeding tickets and accident claims can influence insurance costs for different insured age categories. The premium estimates are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.
The data charted above shows the average cost of auto insurance in Miami per year with no accidents and a clean driving record is $1,747. Get one speeding ticket and the average cost increases to $1,973, an increase of $226 each year. Then include one accident along with the one speeding ticket and the annual cost of auto insurance for a learners permit increases to an average of $2,592. That’s an increase of $846, or $70 per month, just for not driving carefully!
The chart below highlights how deductible choice can change insurance prices when searching for cheap insurance for a learners permit. The rate quotes are based on a single male driver, full physical damage coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could cut expenses by $384 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $582 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old example, could reduce their rates $1,126 annually by selecting a higher deductible. When raising deductibles, it will be important to have enough savings set aside to offset the extra out-of-pocket expense that is associated with using high deductibles.
How to find the cheapest auto insurance for a learners permit
Lowering your rates is not difficult, and here are many penny-pinching suggestions that can help Miami drivers buy cheaper coverage.
- Remain accident-free and save
- Increase your policy deductibles
- Improve your credit score
- Buy a car with high safety ratings
- Do not get traffic citations
- Shop your coverage around for the best deal
That last piece of advice is extremely valuable, as was stressed in this piece. Prices can change significantly in a year, so don’t be unwilling to change to a new company if a lower price can be found.
Staying with the same car insurance company is fine, but it’s not a great idea if that inflexibility results in costing you a fortune every year. Spend a few minutes and compare prices and find cheaper car insurance for a learners permit in Miami.
If you have coverage questions and would like to get some professional advice when trying to find lower insurance rates for a learners permit, the agents below can most likely help you decide which car insurance policy is best.
To find an auto insurance agency in your neighborhood, click the button below the list or click here to compare rates now.
8700 W Flagler St # 230 – Miami, FL 33174 – (305) 221-2400
E and L Insurance Services
1241 SW 27th Ave – Miami, FL 33135 – (888) 700-4049
Clark Alvarado – State Farm Insurance Agent
5209 NW 36th St – Miami Springs, FL 33166 – (305) 887-9543