Unfortunately, almost 70% of drivers have remained with the same car insurance company for well over three years, and almost half have never even shopped around for lower-cost coverage. With the average premium in Florida being $2,160, drivers could save themselves 55% a year by just comparing rate quotes, but they underestimate the benefits if they bought a different policy.
If saving the most money is your goal, then the best way to save money on auto insurance rates in Miami is to compare quotes annually from insurance carriers in Florida. You can compare prices by following these steps.
First, take a little time to learn about how companies price auto insurance and the changes you can make to drop your rates. Many rating factors that cause rate increases such as speeding tickets, accidents and a negative credit history can be improved by making minor changes to your lifestyle. Later in this article we will cover information to help keep rates affordable and get additional discounts that may be available.
Second, quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO or State Farm, while independent agents can provide rate quotes for many different companies. Select a company
Third, compare the quotes to the price on your current policy and determine if cheaper Camry coverage is available. If you can save money and make a switch, verify that coverage does not lapse between policies.
One key aspect when comparing rates is to try to use the same liability limits and deductibles on every quote request and and to look at as many different companies as possible. This provides a level playing field and the most accurate and complete price analysis.
Getting cheap Toyota Camry auto insurance pricing is pretty simple and can save money. The only thing you need to do is take a few minutes to compare rates to discover which company has the cheapest Toyota Camry rate quotes.
Comparing price quotes online is fast and free, and it makes it a waste of time to waste gas driving to and from local Miami insurance agencies. Comparing online rate quotes eliminates the need for an insurance agent unless you’re the type of person who wants the professional guidance of a licensed agent. Drivers can compare the best prices online but buy the policy through an agent.
The auto insurance companies shown below are our best choices to provide comparison quotes in Miami, FL. If multiple companies are listed, we recommend you visit several of them to get a more complete price comparison.
Auto insurance policy discounts for Toyota Camry insurance in Miami
Car insurance companies don’t list the entire discount list very well, so the list below contains both well-publicized as well as some of the hidden discounts that may be available. If you check and find you aren’t receiving every discount you deserve, it’s possible you qualify for a lower rate.
- Professional Memberships – Joining a qualifying organization is a simple method to lower premiums on your bill.
- Paper-free Discount – Some of the larger companies will discount your bill up to fifty bucks for buying a policy and signing up on the web.
- Life Insurance Discount – Not all companies offer life insurance, but some may give you a lower premium rate if you buy auto and life insurance together.
- Telematics Data Discounts – People who choose to allow driving data collection to scrutinize where and when they drive by using a small device installed in their vehicle such as Drivewise from Allstate or Snapshot from Progressive may see discounts as long as they are good drivers.
- Discount for Home Ownership – Just owning your own home can earn you a little savings because of the fact that having a home is proof of financial responsibility.
- Driver Safety – Taking a driver safety course could cut 5% off your bill and easily pay for the cost of the class.
- New Vehicle Savings – Adding a new car to your policy can save up to 30% because newer models have to meet stringent safety requirements.
- First Accident Forgiveness – This one isn’t a discount, but some companies like GEICO, Allstate and Liberty Mutual may permit one accident without getting socked with a rate hike if your claims history is clear for a certain period of time.
Remember that many deductions do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like you could get a free auto insurance policy, that’s just not realistic.
The example below illustrates the difference between Toyota Camry insurance costs with and without discounts applied to the rates. The premiums are based on a male driver, no claims or driving citations, Florida state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, homeowner, multi-car, claim-free, and marriage discounts applied.
A list of auto insurance companies and a partial list of their discounts are outlined below.
- State Farm may include discounts for multiple autos, Drive Safe & Save, good driver, multiple policy, defensive driving training, passive restraint, and student away at school.
- GEICO may have discounts that include driver training, anti-theft, defensive driver, anti-lock brakes, and emergency military deployment.
- Liberty Mutual offers premium reductions for safety features, hybrid vehicle, multi-car, new graduate, and preferred payment discount.
- The Hartford policyholders can earn discounts including driver training, air bag, good student, bundle, and vehicle fuel type.
- MetLife discounts include claim-free, good driver, multi-policy, defensive driver, and accident-free.
- Progressive offers discounts for good student, online signing, multi-vehicle, multi-policy, and continuous coverage.
Before purchasing a policy, check with each company which credits you are entitled to. All car insurance discounts might not apply in your state.
Data for Toyota Camry insurance
The rate table shown next covers a range of coverage prices for Toyota Camry models. Having knowledge of how prices are determined can assist in making smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Price estimates do not factor in specific Miami garaging location which can increase or decrease premiums substantially.
Auto insurance rates based on gender
The chart below shows the difference between Toyota Camry insurance prices for male and female drivers. The rate quotes are based on no tickets, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, drivers are single, and no policy discounts are applied.
How much more does full coverage cost in Miami?
The illustration below visualizes the comparison of Toyota Camry premium costs with liability coverage only compared to full coverage. The information is based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no additional discounts are factored in.
When to drop full coverage
There is no specific rule for eliminating physical damage coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s assume your Toyota Camry book value is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $7,000 after the policy deductible has been paid. If you are paying in excess of $700 a year for physical damage coverage, then it might be time to consider dropping full coverage.
There are some conditions where buying only liability insurance is not recommended. If you haven’t paid off your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Compare rate quotes but buy from a local Miami insurance agency
Many drivers prefer to buy from a licensed agent and we recommend doing that Insurance agents are highly skilled in risk management and will help you if you have claims. One of the benefits of comparing rates online is that you can obtain the best rates and also buy local.
For easy comparison, once you complete this simple form, your insurance data is sent to local insurance agents who will give you bids for your insurance coverage. There is no need to contact any agents as quotes are delivered immediately to you. If you wish to get a rate quote from a specific car insurance provider, you just need to go to their quote page and fill out their quote form.
Choosing an company requires you to look at more than just the price. Any agent in Miami should be forthright in answering these questions:
- If you are a high risk driver, do they have special markets for your coverage?
- Are there any discounts for paying up front?
- Has the agent ever had any license suspensions?
- Who are their largest clients?
- What insurance company do they write the most business with?
- Is the coverage adequate for your vehicle?
If you need to find a good insurance agency, you must know there are a couple types of insurance agents and how they function. Car insurance agents can be classified as either independent or exclusive depending on the company they work for. Both sell car insurance policies, but it is a good idea to know why they differ since it could factor into the selection process.
Exclusive Car Insurance Agencies
Agents of this type can only provide pricing for a single company such as American Family, State Farm, and Allstate. Exclusive agents cannot shop your coverage around so always compare other rates. They receive a lot of sales training on sales techniques and that can be a competitive advantage.
Below is a list of exclusive insurance agencies in Miami who can help you get price quotes.
Rick Gonzalez – State Farm Insurance Agent
8830 Coral Way – Miami, FL 33165 – (305) 226-3412 – View Map
Independent Agents (or Brokers)
Independent insurance agents can quote rates with many companies so as a result can place your coverage through many companies and find the cheapest car insurance rates. If your agent finds better pricing, they simply move the coverage in-house and you stay with the same agent. When comparing car insurance rates, it’s a good idea to get quotes from a few independent agents to have the most options to choose from.
Listed below are independent insurance agents in Miami that are able to give rate quotes.
Exclusive Insurance Agency Inc.
7175 SW 8th St #203 – Miami, FL 33144 – (305) 263-4855 – View Map
Auto insurance is unique, just like you
When buying insurance from an agent or online for your personal vehicles, there is no one size fits all plan. Coverage needs to be tailored to your specific needs.
These are some specific questions can aid in determining if your insurance needs would benefit from an agent’s advice.
- Does my Toyota Camry qualify for pleasure use?
- Is business property covered if stolen from my car?
- Is my custom stereo system covered?
- How high should deductibles be on a Toyota Camry?
- Am I covered if I hit my neighbor’s mailbox?
- Do I need special coverage while pulling a rented trailer?
If you don’t know the answers to these questions, you may need to chat with an agent. To find an agent in your area, simply complete this short form. It is quick, free and can help protect your family.
Auto insurance company ratings
Buying coverage from a good quality car insurance provider can be difficult considering how many different companies sell coverage in Florida. The ranking data in the next section can help you analyze which insurers to look at to insure your vehicles.
Top 10 Miami Car Insurance Companies Overall
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Car insurance coverage options for a Toyota Camry
Learning about specific coverages of car insurance can help you determine the right coverages and the correct deductibles and limits. Policy terminology can be confusing and reading a policy is terribly boring.
Insurance for medical payments
Coverage for medical payments and/or PIP pay for bills for things like prosthetic devices, EMT expenses, nursing services and doctor visits. The coverages can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. It covers you and your occupants in addition to any family member struck as a pedestrian. PIP coverage is not universally available but can be used in place of medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance
This protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your Toyota Camry.
Because many people carry very low liability coverage limits (which is 10/20/10), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.
This can cover damage or injury you incur to a person or their property. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 10/20/10 which stand for a limit of $10,000 per injured person, a total of $20,000 of bodily injury coverage per accident, and a limit of $10,000 paid for damaged property.
Liability coverage pays for things such as funeral expenses, medical services and pain and suffering. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as much as you can afford. Florida requires minimum liability limits of 10/20/10 but you should think about purchasing more liability than the minimum.
The next chart shows why buying the state minimum limits may not be adequate coverage.
Collision insurance covers damage to your Camry resulting from a collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things like sideswiping another vehicle, driving through your garage door, rolling your car and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to bump up the deductible on your Camry to bring the cost down.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like damage from flooding, damage from a tornado or hurricane, vandalism and damage from getting keyed. The maximum payout your car insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Quote often and quote early
You just read many tips how you can lower your Toyota Camry insurance prices in Miami. The most important thing to understand is the more providers you compare, the better your comparison will be. Drivers may even discover the biggest savings come from a lesser-known regional company.
Some companies may not provide online quoting and these regional insurance providers provide coverage only through local independent agents. Cheaper Toyota Camry insurance in Miami can be found from both online companies in addition to local insurance agencies, so you need to compare both to have the best selection.
When getting Miami car insurance quotes online, you should never reduce coverage to reduce premium. There have been many cases where someone sacrificed collision coverage and learned later that they should have had better coverage. Your goal should be to purchase plenty of coverage at a price you can afford but still have enough coverage for asset protection.
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- How Much are Car Insurance Quotes for Drivers with Accidents in Miami? (FAQ)
- What is the Cheapest Car Insurance in Miami, Florida? (FAQ)
- Who Has Cheap Miami Auto Insurance Quotes for a Toyota Corolla? (FAQ)
- Who Has Cheap Auto Insurance Rates for Handicapped Drivers in Miami? (FAQ)
- Prom Night Tips for Teen Drivers (State Farm)
- How do I File a Claim? (Insurance Information Institute)