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How much is car insurance in Miami Beach?
|Area||Average Monthly Car Insurance Premium|
Looking at the chart above, you can see that the average monthly price is about the same in Miami Beach as it is in the rest of Florida.
That being said residents of Miami Beach might expect to pay higher rates for coverage than the rest of the country. The cost of auto coverage in Miami Beach is about $40 more expensive than the national average.
Bear in mind that while these are the average car insurance rates for Miami Beach, you could end up paying something different. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect the final amount you'll be charged for coverage each month.
Don't sweat it however, we've broken down average rates for Miami Beach 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 certain that you're paying the lowest option, simply enter your ZIP Code below and find out in just minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It's pretty safe to assume that the older you are, the more experience you have as a driver. When it comes to auto insurance rates, that experience can help put some change back into your pocket. As you can see, 18-24-year-olds pay $51 more than drivers of retirement age.
You can expect to see your monthly premium drop every 10 years or so. That said, once you hit retirement age, your rates may climb back up in Miami Beach.
Average Car Insurance Rates by Gender
Although women typically pay less than men do for auto insurance, this is not the case in Miami Beach, where female drivers pay around $4 more per month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
One of the biggest factors in determining your car insurance rates is your driving record. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. In Miami Beach, a driving record with one accident will usually get you a rate around $155 a month. In addition, drivers with a single ticket on their record can expect to pay around $127 a month on average.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. So, if you want the cheapest rates, drive carefully and try to maintain a clean driving record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$108|
|15 Years or Older||$125|
In Miami Beach, the cheapest vehicles to insure are by and large SUVs, with drivers paying around $114 per month for auto insurance coverage.
Truck and van drivers will see rates of about $122, while the rates for car owners average out to about $123 a month.
The age of your vehicle can also affect your monthly bill. Generally, newer vehicles are going to be the most expensive to insure. Once your car is a few years old, however, your monthly bill may start to dip back down. In Miami Beach, 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)||$125|
Overall, car insurance is slightly cheaper for married policyholders. This usually happens because companies will extend special discounts to policyholders with multiple vehicles that are on the same policy.
According to the table above, the difference in rates based on relationship status in Miami Beach can be as much as $17 a month, so it's worth taking into consideration.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$151|
Another factor taken into consideration is your housing status. Renters can expect to pay around $18 a month more than those who own their own home in Miami Beach. 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 car insurance costs, depending on your insurance company.
Car Insurance Companies in Miami Beach, FL
Recent trends in car insurance for Miami Beach 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.
In Miami Beach, the rates for car insurance had been decreasing from 2017-2019, when they hit a low of $106. This pattern leveled out in 2020, when they began to rise, and have continued to do so through 2022, when policy premiums reached a high of $132 per month.
How does Miami Beach compare to neighboring areas?
Why are car insurance rates in Miami Beach different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate numerous factors. While we've discussed the ones that affect your personal policy, others are based around where you park your car. These include things like:
- Amount of drivers in the area
- Road Safety (total number of local car accidents)
- Community laws
- Off-street parking access
- Prevalence of crime
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. 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 Miami Beach?
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.
Good news! Compare.com does all of that work for you. Put in your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies offering plans in Miami Beach.
Miami Beach Insurance FAQs
What factors affect car insurance quotes in Miami Beach?
Car insurance companies calculate quotes based on a wide array of factors. These include things 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 Miami Beach different from other neighboring cities?
Local laws, parking situations, and crime rates -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Miami Beach?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Miami Beach?
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 Miami Beach 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?