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How much is car insurance in Melbourne?
|Area||Average Monthly Car Insurance Premium|
Compared to the rest of the Florida, coverage in Melbourne is about $25 a month cheaper.
That being said the expected monthly payments for an auto insurance policy in Melbourne are above the national average. The average monthly payment in Melbourne is about $17 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. The monthly rate that insurance companies end up charging you is determined by a variety of factors. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining the bill you'll see each month.
But don't worry, we've broken down the average rate for Melbourne residents based on several different factors so that you can get a more accurate idea of the bill you'll see each month. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
It would make sense that older drivers have more driving experience, right? That experience can turn into some real savings when it comes to car insurance bills. As you can see, 18-24-year-olds pay $54 more than drivers of retirement age.
You can expect to see your monthly premium drop every 10 years or so. As you get closer to retirement, however, you may see your rates climb back up in Melbourne.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. In Melbourne, although women do pay a bit less on their monthly insurance rates, the price is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can change drastically depending on your driving record. Those with clean records can expect to pay much less than those with infractions. The rate for drivers in Melbourne with a single accident on their record is about $113 a month. Likewise, drivers with one ticket will be looking at a rate of around $113 a month on average.
Regardless of where you live, accidents, tickets, and other driving infractions can drive your monthly bill way up. That's why it's important to drive safely and keep your record clean so you can keep your rates as low as possible.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$89|
|15 Years or Older||$94|
In terms of affordable coverage, the cheapest vehicles to insure in Melbourne are typically trucks and vans, at $83 per month.
Car owners can expect to pay an average of around $101 a month for their policy, while SUVs usually cost around $97 a month to insure.
Your vehicle's age also plays a role in your monthly payment. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is close to 5 years old you may start to see your rates drop back down a bit. In Melbourne, the most expensive vehicles to insure are vehicles eight-to-ten years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$100|
On average, married policyholders will pay slightly less to insure their vehicle. This usually happens because companies will offer special discounts to policyholders with multiple vehicles that are on the same policy.
Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Melbourne, with married couples paying about $5 less per month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$119|
One other element taken into consideration is your housing situation. In Melbourne, homeowners can expect to pay around $16 a month less than those who rent. But if you live with your parents, you can expect to pay a lot more.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your overall costs.
Car Insurance Companies in Melbourne, FL
Recent trends in car insurance for Melbourne drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when choosing your car insurance policy.
In Melbourne, the rates for auto insurance dropped from 2017-2019, before leveling out in 2020. Car insurance rates finished down in 2022, at $71 a month
How does Melbourne compare to neighboring areas?
Why are car insurance rates in Melbourne different from other areas?
Car insurance companies will consider several factors when trying to decide how much to charge for a policy. While we already talked about the ones that affect your personal policy, others are based around where you live. These include things like:
- Area laws
- Prevalence of crime
- General road safety (how many accidents each locality has)
- Off-street parking accessibility
- Amount of drivers in the region
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. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Melbourne?
Equipping yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
But hold on! Compare.com will handle the heavy lifting for you. Just type in your ZIP Code below, respond to a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies providing policies in Melbourne.
Melbourne Insurance FAQs
What factors affect car insurance quotes in Melbourne?
The factors that car insurance companies take into account when calculating your monthly cost 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 Melbourne different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like parking situations, local laws, and crime rates when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Melbourne?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Melbourne?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
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 Melbourne 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?