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How much is car insurance in Homestead?
|Area||Average Monthly Car Insurance Premium|
Based on the information in the chart above, you can see that on average, it's about $51 a month more expensive to insure your vehicle in Homestead than it is in the rest of Florida.
Drivers relocating the Homestead should take note of the differences in average rates. The average monthly payment in Homestead is about $94 more expensive than the rate for the rest of the U.S.
These rates provide a great starting point for understanding what to expect for your monthly payment, but there's no guarantee that this is what you will end up paying. Insurance companies take in a variety of factors when determining how much to charge you for coverage. Your bill each month is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
But don't worry, we've broken down the average rate for Homestead residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below and find out in just minutes!
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Homestead Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The more time you've spent on the road, the more experience you have. That experience can lead to some serious savings when it comes to car insurance rates. In this case, 18-24-year-olds pay significantly more than drivers 65 and older.
You can expect to see your monthly premium drop about once a decade or so. Homestead drivers may see their rates creep back up a bit once they hit retirement age.
Homestead Car Insurance Rates by Gender
While women typically pay less than men do for auto insurance, Homestead defies this trend. Female drivers typically pay around $23 more per month to insure their vehicle than their male counterparts.
Homestead Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. Drivers in Homestead with a single accident on their record will usually see rates around $240 a month. Similarly, drivers with one ticket will typically pay around $516 on average.
When it comes to your monthly premium, accidents, tickets, and other driving infractions can really take a toll. In order to reduce your monthly bill and get the cheapest car insurance possible, keep your record clean and drive carefully.
Homestead Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$162|
|15 Years or Older||$178|
According to the first table above, trucks and vans are usually the cheapest vehicles to insure in Homestead, with drivers paying around $145 per month to insure their vehicle.
SUV drivers will see rates of about $190, while the rates for car owners average out to about $174 a month.
You can also expect to see slightly different rates depending on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. However, your rates may start to decrease if your car is a few years old. In Homestead, vehicles four-to-five years old are the most expensive to insure.
Homestead Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$182|
Generally speaking, people who are married will pay slightly less for insurance coverage. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.
The difference in rates based on relationship status in Homestead is about $47 a month, with married couples paying less for coverage than single drivers.
Homestead Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$229|
One other element taken into consideration is your housing situation. If you rent your home or apartment, expect to pay around $35 a month more than if you own your own home in Homestead. But if you live with your parents, your rates will be significantly higher.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your average premiums, depending on your insurance company.
Car Insurance Companies in Homestead, FL
Recent trends in car insurance for Homestead drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before choosing where to shop.
The rates for car insurance in Homestead decreased from 2017-2019, when they hit a low of $148. This pattern leveled out in 2020, when they began to rise, and have continued moving in that direction through the present, where car insurance rates finished at $318 per month.
How does Homestead compare to neighboring areas?
Why are car insurance rates in Homestead different from other areas?
There are numerous factors car insurance companies take into consideration when deciding how much to charge for coverage. The specifics of your home address will have an impact on your personal policy. This might include things like:
- Number of drivers
- Availability of off-street parking
- Regional crime rates
- Road Safety (frequency of local car accidents)
- Regional laws
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. Realizing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your corner of the world.
How can I find the cheapest car insurance in Homestead?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Luckily, Compare.com can handle all of this for you. Just enter your ZIP below, answer a few questions about your driving profile, and you'll be quickly comparing the cheapest quotes from dozens of car insurance companies offering policies in Homestead.
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Homestead Auto Insurance FAQs
What factors affect car insurance quotes in Homestead?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your gender and age, but also factors like your vehicle's year, make and model, plus your marital status, address, credit score, and driving record.
Why is the cost of car insurance in Homestead different from other neighboring cities?
Auto insurance companies consider regional factors, such as local laws, parking situations, and crime rates into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Homestead?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Homestead?
Whenever you relocate or experience another major life event, such as getting married or finding a new job, you should consider re-evaluating your current insurance policy. By using services like Compare.com to compare quotes from multiple companies at once, you can be sure to capture any new savings brought about by your new situation.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Homestead or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?
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