Table of contents
How much is car insurance in Miami?
|Area||Average Monthly Car Insurance Premium|
Looking at the chart above, you can see that it is around $29 a month more expensive to insure your vehicle in Miami than it is in the rest of Florida.
Likewise, the expected monthly payments for an auto insurance policy in Miami are above the national average. It's about $72 more for coverage in Miami than in the rest of the U.S.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. Insurance companies weigh a variety of factors when determining how much to charge you to get auto insurance. Your bill each month is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
But don't worry, we've broken down average rates for Miami residents so that you can get a more accurate idea of what you might pay. 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|
|45-54||Not Enough Data|
Generally speaking, the older you are, the more experience you have driving, right? That experience can really work in your favor when it comes to auto insurance. According to the table above, you can see that 18-24-year-olds pay $68 more than drivers 65 and older.
You can expect to see your monthly premium drop every 10 years or so. Once you hit retirement age, however, you may see your rates climb back up in Miami.
Average Car Insurance Rates by Gender
Although women typically pay less than men do for car insurance coverage, this is not the case in Miami, where female drivers pay around $159 per month while male drivers pay about $148.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
One of the key factors in determining your car insurance rates is your driving record. Those with fewer accidents and tickets will pay much less than those with multiple infractions, while those with clean driving records will obviously pay the least. In Miami, a driving record with one accident will usually get you a rate around $194 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $192.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. In order to reduce your monthly bill and get the cheapest car insurance possible, keep your record clean and drive carefully.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$150|
|15 Years or Older||$162|
In terms of affordable coverage, the cheapest vehicles to insure in Miami are by and large trucks and vans, at $136 per month.
SUV drivers will see rates of about $138, while the rates for car owners average out to about $158 per month.
In addition to vehicle type, you can also expect to see slightly different rates based on how old your vehicle is. Overall, newer vehicles are going to cost the most to insure. Once your car is a few years old, however, your monthly bill may start to dip back down. In Miami, 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)||$153|
Generally, car insurance is slightly cheaper for married policyholders. This oftentimes is a result of owning multiple vehicles that are on the same policy, something some companies will reward with discounts.
In Miami, the difference in rates based on relationship status can be as much as $4 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$198|
Your living accommodations is another component of how insurance companies calculate your monthly rate. If you rent your home or apartment, expect to pay around $22 a month more than drivers who own property in Miami. Those who live with their parents, however, 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 Miami, FL
Recent trends in car insurance for Miami drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending when choosing when and where to shop.
In Miami, the rates for car insurance decreased from 2016-2019, when they hit a low of $135. Insurance rates started to rise in 2020, and this pattern has continued through 2021, when rates have most recently reached $150.
How does Miami compare to neighboring areas?
Why are car insurance rates in Miami different from other areas?
There are several factors car insurance companies will consider when choosing how much to charge for a monthly rate. A few of these factors affecting your personal policy have already been mentioned, but others are based around where you live. These include things like:
- General road safety (how many accidents each locality has)
- Number of drivers in the area
- Access to off-street parking
- Rate of crime
- Regional regulations
Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. 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 Miami?
In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.
Good news! Compare.com does all of that work for you. Put in your ZIP below, answer a few questions on you and your car, and you'll be comparing the cheapest quotes from numerous car insurance companies offering auto coverage in Miami.
Miami Insurance FAQs
What factors affect car insurance quotes in Miami?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your gender and age, but also factors like your driving record, address, credit score, and marital status.
Why is the cost of car insurance in Miami different from other neighboring cities?
Auto insurance companies consider regional factors, such as parking situations, local laws, and crime rates into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Miami?
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 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.