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How much is car insurance in Melbourne?
|Area||Average Monthly Car Insurance Premium|
Car insurance coverage in Melbourne is about $24 cheaper than it is in the rest of Florida.
Conversely, the expected monthly payments for an auto insurance policy in Melbourne are above the national average. It's around $18 more expensive for coverage in Melbourne than the average rates seen in 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. The amount that insurance companies end up charging you is determined by a number of factors. Your bill each month is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
We've done the heavy lifting for you and broken down the average rate for Melbourne so that you can get a more accurate idea of what your monthly bill might be. And if you think you might be overpaying for insurance, simply enter your ZIP Code below to learn more about rates in your area!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
The older you are, the more experience you're likely to have behind the wheel, right? That experience can lead to some serious savings when it comes to car insurance bills. As you can see, 18-24-year-olds pay $43 more than someone who is retirement aged.
As you get older, you can expect to see a drop in your monthly premium every 10 years. You may see your rates creep back up once you hit retirement age in Melbourne.
Average Car Insurance Rates by Gender
Female drivers pay, on average, slightly less than their male counterparts. In Melbourne, however, the difference in monthly policy premiums is minimal.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Tickets||Not Enough Data|
Depending on your driving record, your rates can vary quite a lot. Drivers with clean records can expect to pay a lot less than those with accidents or violations. Drivers in Melbourne with a single accident will pay around $111 a month. Likewise, drivers with one ticket will be looking at a rate of around $107 a month on average.
Accidents, tickets, and other driving infractions can really add up when it comes to how much you pay. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$94|
|15 Years or Older||$94|
As you can see in the first table above, the cheapest vehicles to insure in Melbourne are usually trucks and vans, which run about $87 per month.
Car owners, on the other hand, typically pay around $100 per month, while SUV drivers can expect to pay about $97 a month to insure their vehicle.
Your rates can also vary depending on the age of your vehicle. 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 Melbourne, 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)||$100|
Generally, those who are currently married will pay slightly less for auto insurance coverage. This usually boils down to owners having multiple vehicles on the same policy, something many companies offer special discounts for.
The difference in rates based on relationship status in Melbourne is about $4 a month, with married couples paying less for coverage than single drivers.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$121|
One other element taken into consideration is your housing status. If you rent your home or apartment, expect to pay around $12 a month more than if you own your own home in Melbourne. But if you live with your parents, you can expect to pay a lot more.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Melbourne, FL
Recent trends in car insurance for Melbourne drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before shopping for coverage.
The rates for auto insurance in Melbourne went up from 2016-2017, before taking a downward turn from 2018-2019. They finished down in 2021 at $75.
How does Melbourne compare to neighboring areas?
Why are car insurance rates in Melbourne different from other areas?
When considering how much to charge for coverage, car insurance companies will review a lot of factors. Your insurance policy will depend largely on where you live and drive and will be influenced by things such as:
- Off-street parking access
- Total amount of drivers in the community
- Community regulations
- Crime levels
- Road safety
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. With the knowledge 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 particular neighborhood.
How can I find the cheapest car insurance in Melbourne?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
But wait! Compare.com does all of that work for you. Just enter your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from several of the car insurance companies that offer auto coverage 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 gender and age, but also factors like your vehicle's year, make and model, plus your address, credit score, marital status, and driving record.
Why is the cost of car insurance in Melbourne different from other neighboring cities?
Things like local laws, parking situations, 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?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, 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 Melbourne?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good 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?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Melbourne or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.