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How much is car insurance in Miami?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it is around $36 a month more expensive to insure your vehicle in Miami than it is in the rest of Florida.
Compared to the national average cost of auto coverage, Miami has higher rates. It's about $78 more expensive for coverage in Miami than the average rates for the U.S. as a whole.
While these numbers represent the average monthly payments for coverage in Miami, that doesn't mean it's what you'll pay. Insurance companies take an array of factors into consideration when determining how much to charge you for your car insurance. Your policy's monthly price is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
Don't sweat it however, we've broken down the average rate for Miami residents based on several different factors so that you can get a more accurate idea of what you might pay. If you're not certain that you're getting the cheapest rate for your area, just enter your ZIP Code below to find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
More time behind the wheel makes you a more experienced driver. When it comes to car insurance rates, that experience can really pay off. In this case, 18-24-year-olds pay a lot more than drivers 65 and older.
You can expect to see your monthly premium drop every 10 years or so. Having said that, once you approach retirement age your rates may climb back up in Miami.
Average Car Insurance Rates by Gender
Although female drivers pay, on average, less than male drivers for car insurance coverage, Miami actually defies this trend. While female drivers pay $169 per month to insure their car, males only pay about $153.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Drivers with clean records will pay much lower rates than those with accidents or violations. Drivers in Miami with a single accident will pay around $198 a month. Likewise, if you have one ticket, you'll be looking at an average rate of around $190.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$150|
|15 Years or Older||$167|
As you can see in the first table above, the cheapest vehicles to insure in Miami are usually SUVs, which run about $142 per month.
Car owners will see rates of about $166, while truck and van owners typically pay around $146 a month.
In addition to vehicle type, you can also expect to see slightly different rates based on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. However, once your car is a few years old, you might start to see your rates slide back down slightly. In Miami, the most expensive vehicles to insure are vehicles fifteen years and older and eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$161|
More often than not, married policyholders will pay slightly less for insurance coverage. This oftentimes is a result of owning multiple vehicles that are on the same policy, something some companies will reward with discounts.
The difference in rates based on relationship status in Miami can be as much as $9 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$193|
Another factor that comes into play is your living accommodations. In Miami, homeowners can expect to pay around $29 a month less than those who rent. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your average premiums, depending on your insurance company.
Car Insurance Companies in Miami, FL
Recent trends in car insurance for Miami 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 deciding when and where to shop.
In Miami, car insurance rates decreased from 2017-2019, when they hit a low of $135. This pattern leveled out in 2020, when they began to rise, and have continued to do so through the present, where car insurance rates finished at $222 per month.
How does Miami compare to neighboring areas?
Why are car insurance rates in Miami different from other areas?
Car insurance companies take in numerous factors when choosing how much individual insurance policies will cost. The specifics of your home address will have an impact on your personal policy. This might include things like:
- Road safety
- Prevalence of crime
- Amount of drivers in the area
- Availability of off-street parking
- Community laws
It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider 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 Miami?
Arming 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.
Fortunately, Compare.com does all of that work for you. Just enter your ZIP below, answer a few questions on you and your car, and you'll be comparing the cheapest quotes from the many car insurance companies offering coverage in Miami.
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Miami Insurance FAQs
What factors affect car insurance quotes in Miami?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your driving record, address, credit score, and marital status.
Why is the cost of car insurance in Miami 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?
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 Miami?
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?
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 Miami 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.
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