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How much is car insurance in Melbourne?
|Area||Average Monthly Car Insurance Premium|
According to the chart above, the average cost of auto insurance in Florida is about $26 a month more expensive than it is in Melbourne.
On the flip side, drivers in Melbourne may pay higher rates than the rest of the country. It's around $17 more expensive to insure your vehicle in Melbourne compared to the average rate for the rest of the U.S.
Keep in mind that while these are the average car insurance rates for Melbourne, it isn't guaranteed that it's what you'll pay. Insurance companies take in a variety of factors when determining how much to charge you for coverage. Your monthly premium is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
We've analyzed the average rate for Melbourne and broken down the different factors to help you understand what exactly you might be asked to pay. And if you're not sure that you're paying the lowest option, simply enter your ZIP below and find out!
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Melbourne Car Insurance Rates by Age
|Age Range||Average Premium|
Generally speaking, the older you are, the more experience you have driving, right? When it comes to car insurance rates, that experience can really pay off. According to the table above, you can see that 18-24-year-olds pay $56 more than someone who is at retirement age.
You can expect to see your monthly premium drop about once a decade or so. That said, once you hit retirement, your rates may climb back up in Melbourne.
Melbourne Car Insurance Rates by Gender
Car insurance rates for female drivers are usually cheaper than those for male drivers. While female drivers pay a bit less than male drivers on their monthly auto coverage, the difference in Melbourne is only about $2 a month.
Melbourne Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. Those with fewer accidents and tickets will pay significantly less than those with multiple infractions, while those with clean driving records will obviously pay the least. Drivers in Melbourne with one accident will pay around $115 a month. Likewise, drivers with one ticket will be looking at a rate of around $117 a month on average.
Wherever you live, accidents, tickets, and other driving infractions will almost certainly drive up your monthly bill. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Melbourne Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$89|
|15 Years or Older||$93|
According to the first table above, trucks and vans are usually the cheapest vehicles to insure in Melbourne, with drivers paying around $81 per month for insurance.
Car owners will see a monthly premium of about $100, while SUV owners by and large pay around $97 per month.
Vehicle age can also affect your monthly bill. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is a few 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.
Melbourne Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$100|
Generally, those who have settled down into marriage will pay slightly less for car insurance coverage. This usually boils down to owners having multiple vehicles on the same policy, something many companies offer special discounts for.
According to the table above, the difference in rates based on relationship status in Melbourne can be as much as $8 a month, so it's worth taking into consideration.
Melbourne Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$119|
Your housing status is another component of how insurance companies calculate your monthly rate. Renters can expect to pay around $15 a month more than homeowners in Melbourne. But if you live with your parents, you can expect to pay a lot more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Melbourne, FL
Recent trends in car insurance for Melbourne drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before choosing when and where to shop.
The rates for car insurance in Melbourne dropped from 2017-2019, before leveling out in 2020. They finished down in 2022, at $79 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 mentioned the factors that affect your personal policy, others are based around your home address. These include things like:
- Off-street parking access
- Rate of car accidents
- Number of drivers
- Area crime rates
You can't change these factors yourself, but they're something to take into consideration when shopping for a new policy or looking to move into an area. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Melbourne?
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.
Fortunately, Compare.com does all of that work for you. Just type 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 many of the car insurance companies offering plans in Melbourne.
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Melbourne Auto Insurance FAQs
What factors affect car insurance quotes in Melbourne?
Car insurance companies calculate quotes based on a wide array of factors. These include things 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?
Things like parking situations, local laws, and crime rates, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Melbourne?
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 Melbourne?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good 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. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Melbourne or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.
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