Miami, FL Car Insurance

Compared to their surrounding area, how do rates in Miami stack up? What about against the rest of Florida? What rates can residents of Miami expect to pay for their car insurance? Discover the factors that go into calculating the average cost in our writeups and charts below:

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How much is car insurance in Miami?

Car insurance policies in Miami are about $40 a month more expensive than the rest of Florida.

The average cost of insuring your vehicle in Miami is above the national rate. The average monthly payment for the rest of the U.S. is about is about $83 cheaper than it is in Miami.

Although these are the average rates for auto insurance in Miami, it's important to remember that you could end up paying something different. The monthly rate that insurance companies end up charging you is determined by a variety of factors. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the final dollar amount you'll be asked to pay each month.

We've analyzed the average rate for Miami and broken down the different factors to help you understand what your monthly bill might look like. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!

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Miami Car Insurance Rates by Age

The older you are, the more experience you're likely to have behind the wheel, right? When it comes to car insurance premiums, that experience can really pay off. In this case, 18-24-year-olds pay significantly more than someone who is at retirement age.

For every 10 years, you can expect to see a drop in your monthly premium. Having said that, once you approach retirement your rates may climb back up a bit in Miami.

Miami Car Insurance Rates by Gender

Although female drivers pay, on average, less than male drivers to insure their car, Miami actually bucks this trend. While female drivers pay $177 a month for car insurance coverage, males only pay about $155.

Miami Auto Insurance Rates by Driving Record

Depending on your driving record, your rates can vary wildly. Drivers who avoid accidents and tickets will pay significantly lower rates than those with infractions. In Miami, a driving record with one accident will usually get you a rate around $211 a month. Likewise, if you have one ticket, you'll be looking at an average rate of around $201.

Accidents, tickets, and other driving infractions can really hurt your wallet. So, if cheaper car insurance is important to you, keep your record clean and drive safe.

Miami Insurance Rates by Vehicle

If you look at the first table above, the cheapest vehicles to insure in Miami are usually SUVs, at $145 per month.

Truck and van drivers will see rates of about $148 for insurance coverage, while car owners typically pay around $171 per month.

Your rates can also vary depending on how old your vehicle is. Newer vehicles are generally going to be the most expensive to insure. However, once your car is a few years old, you may start to see your monthly premium decrease. In Miami, the most expensive vehicles to insure are vehicles eleven-to-fourteen years old.

Miami Car Insurance Rates by Relationship Status

Generally speaking, married policyholders will pay slightly less to insure their vehicle. This usually boils down to owners having multiple vehicles on the same policy, something many companies extend special discounts for.

The difference in rates based on relationship status in Miami can be as much as $11 a month, so it's worth keeping that in mind.

Miami Car Insurance Rates by Housing Situation

Another factor that comes into play is your living accommodations. Renters can expect to pay around $32 a month more than drivers who own property in Miami. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.

That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your overall costs.

Car Insurance Companies in Miami, FL

Recent trends in car insurance for Miami 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 cost of auto insurance coverage in Miami had been decreasing from 2017-2019, when it reached a low of $135. This trend shifted in 2020, when it began to increase, and has continued on that path through the present, where car insurance rates hit a high of $246 a month.

How does Miami compare to neighboring areas?

Why are car insurance rates in Miami different from other areas?

Car insurance companies will take into account a lot of factors when they're figuring out how much to charge for a policy. While we've discussed the ones that affect your personal policy, others are based around where you live and drive. These include things like:

• Crime rates
• Laws
• Off-street parking accessibility
• Frequency of car accidents
• Amount of drivers in the community

It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. 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.

Luckily, Compare.com does all of that work for you. Just enter your ZIP Code below, answer a few questions regarding the factors mentioned above, and you'll be comparing the cheapest quotes from a number of the car insurance companies that offer auto coverage in Miami.

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Miami Auto Insurance FAQs

What factors affect car insurance quotes in Miami?

Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your age and gender 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 different from other neighboring cities?

Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like crime rates, parking situations, and local laws when calculating your quote -- all of which can change from city to city.

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 relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.

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 Miami 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.