Lake Wales, FL Car Insurance

On average, Lake Wales drivers pay around $107 a month for their car insurance. Check out our guide below to find out how much you'll pay.
How does Lake Wales stack up to the rest of the area, or even Florida as a whole? What rates should residents of Lake Wales expect to pay for their car insurance? You can find average cost breakdowns based on a wide array of factors in the charts and writeups below:  

How much is car insurance in Lake Wales?

Area Average Monthly Car Insurance Premium
Lake Wales$107
FL$123
United States$81

According to the chart above, the average cost of auto insurance in Florida is about $16 a month more expensive than it is in Lake Wales.

Drivers relocating the Lake Wales should take note of the differences in average rates. The average monthly payment in Lake Wales is about $26 more expensive than the rate for the rest of the U.S.

Although these are the average rates for auto insurance in Lake Wales, that doesn't mean it's exactly what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay to get car insurance. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect your policy's monthly price.

But don't worry, we've broken down the average rate for Lake Wales residents based on several different factors so that you can get a more accurate idea of the bill you'll see each month. To find out if you're overpaying for your area, just enter your ZIP below and find out in minutes!

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Average Car Insurance Rates by Age

Age Range Average Premium
Under 18Not Enough Data
18-24$186
25-34$104
35-44$108
45-54$93
55-64$78
65+$78

Generally, the older you are the more experienced you are behind the wheel, right? When it comes to auto insurance rates, that experience pays off. According to the table above, you can see that 18-24-year-olds pay twice as much as drivers 65 and older.

As you get older, you can expect to see a drop in your monthly premium every 10 years. Once you hit retirement, however, you may see your rates begin to increase again in Lake Wales.

Average Car Insurance Rates by Gender

Gender Average
Male$104
Female$110

Despite the national trend of women paying less than men to insure their vehicle, in Lake Wales men actually pay $104 per month for coverage while women pay $110.

Average Auto Insurance Rates by Driving Record

Infractions Average Monthly Premium
1 Accident$129
Multiple Accidents$274
1 Ticket$156
Multiple Tickets$270

Your driving record can have a tremendous impact on your car insurance rates. Drivers with clean records will pay much lower rates than those with accidents or violations. In Lake Wales, a driving record with one accident will usually get you a rate around $129 a month. Similarly, drivers with one ticket will typically pay around $156 on average.

Accidents, tickets, and other driving infractions can really hurt your wallet. Remember, the safer you are as a driver, the cheaper your car insurance will be.

Average Insurance Rates by Vehicle

Vehicle Age Average Monthly Premium
Less Than 1 Year$66
2-3 Years$71
4-5 Years$93
6-7 Years$68
8-10 Years$97
11-14 Years$123
15 Years or Older$110

If you look at the first table above, you'll see that trucks and vans are by and large the cheapest vehicles to insure in Lake Wales, with drivers paying around $91 per month for insurance coverage.

The insurance premium for car and SUV owners in Lake Wales usually comes out to about $112 a month.

Depending on your vehicle's age, you can also expect to see slightly different rates. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old, however, you may see your bill start to shrink a bit. In Lake Wales, vehicles eleven-to-fourteen years old are the most expensive to insure.

Average Car Insurance Rates by Relationship Status

Relationship Average Monthly Premium
Single (never married)$112
Married$102
Divorced$86
Widowed$61

More often than not, car insurance is slightly cheaper for married policyholders. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.

At a national level, married drivers usually pay less than single drivers for auto insurance. This holds true for Lake Wales as well, where the difference is around $10 a month.

Average Car Insurance Rates by Housing Situation

Housing Status Average Monthly Premium
Own$100
Rent$106
Live with parents$234

Another factor that comes into play is your living situation. Those who own their own home in Lake Wales can expect to pay around $6 a month less than those who rent. But those who live at home with their parents can expect to pay significantly more.

Bundling your home or rental insurance with your auto insurance can oftentimes reduce your overall costs, depending on your insurance company.

Car Insurance Companies in Lake Wales, FL

Recent trends in car insurance for Lake Wales drivers

Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before choosing an insurance policy.

Car insurance rates in Lake Wales declined from 2017-2018, before increasing from 2019-2021. They finished down in 2022 at $56.

How does Lake Wales compare to neighboring areas?

Why are car insurance rates in Lake Wales different from other areas?

When considering how much to charge for an insurance policy, car insurance companies will evaluate numerous factors. The specifics of where you park your car will have an impact on your personal policy. This might include things like:

  • Amount of drivers in the region
  • Rate of crime
  • Road Safety (frequency of local car accidents)
  • Area regulations
  • Amount of off-street parking

Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. Different towns and cities will all have different average rates, so guides like these are a great place to get started.

How can I find the cheapest car insurance in Lake Wales?

While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.

But wait! Compare.com does all of that work for you. Just put in your ZIP Code below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from a number of the car insurance companies offering plans in Lake Wales.

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Lake Wales Insurance FAQs

What factors affect car insurance quotes in Lake Wales?

Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your age and gender but also factors like your address, credit score, driving record and marital status, as well as your vehicle's year and make and model.

Why is the cost of car insurance in Lake Wales different from other neighboring cities?

Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like crime rates, local laws, and parking situations -- which can vary from city to city -- can significantly affect your rate.

Which car insurance company will offer me the cheapest rate in Lake Wales?

There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.

Do I need to change my insurance if I move to Lake Wales?

Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.

Do I need to wait for my policy to expire to switch to a different car insurance company?

No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Lake Wales or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.

Find your best rate in just a few minutes