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How much is car insurance in Palm Bay?
|Area||Average Monthly Car Insurance Premium|
The cost of coverage in Palm Bay is about $27 a month cheaper than it is for the rest of Florida.
That being said the expected monthly payments for an auto insurance policy in Palm Bay are above the national average. Coverage in Palm Bay is about $16 more expensive than it is for the rest of the U.S.
While these numbers are the average rates for auto insurance in Palm Bay, 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 to insure your vehicle. 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.
But don't worry, we've broken down average rates for Palm Bay residents so that you can get a more accurate idea of what you might pay. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP below and find out in just minutes!
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Palm Bay Car Insurance Rates by Age
|Age Range||Average Premium|
Generally, the older you are, the more experienced you are on the roads. That experience can lead to some serious savings when it comes to auto insurance bills. As you can see, 18-24-year-olds pay $61 more than someone who is retirement aged.
You can expect to see your monthly premium drop every 10 years or so. Once you hit retirement, however, you may see your rates climb back up a bit in Palm Bay.
Palm Bay Car Insurance Rates by Gender
Despite the national trend of women paying less than men for auto insurance, in Palm Bay men actually pay $94 per month for coverage while women pay $99.
Palm Bay Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can vary wildly depending on your driving record. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. Drivers in Palm Bay with one accident will pay around $133 a month. Likewise, if you have one ticket, you'll be looking at an average rate of around $84.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. So, if cheap car insurance is something you're after, drive safely and keep a clean record.
Palm Bay Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$76|
|15 Years or Older||$92|
According to the first table above, trucks and vans are typically the cheapest vehicles to insure in Palm Bay, with drivers paying around $88 per month for auto insurance.
Car owners, on the other hand, by and large pay around $101 a month, while SUV drivers can expect to pay about $89 per month for insurance coverage.
You can also expect to see slightly different rates depending on how old your vehicle is. Generally, newer vehicles are going to be the most expensive to insure. Once your car is around 5 years old, however, you may see your rates begin to drop back down. In Palm Bay, vehicles two-to -three years old are the most expensive to insure.
Palm Bay Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$101|
Generally speaking, those who have settled down into marriage will pay slightly less to insure their vehicle. This usually happens because companies will extend special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in Palm Bay can be as much as $15 a month, so it's worth keeping that in mind.
Palm Bay Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$111|
Another factor that comes into play is your housing status. Renters can expect to pay around $4 a month more than those who own their own home in Palm Bay. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your car insurance premiums, depending on your insurance company.
Car Insurance Companies in Palm Bay, FL
Recent trends in car insurance for Palm Bay drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending before picking an insurance policy.
The rates for auto insurance in Palm Bay increased from 2017-2018, but began to decrease in 2021. This trend has continued through 2022 when rates have most recently reached $86.
How does Palm Bay compare to neighboring areas?
Why are car insurance rates in Palm Bay different from other areas?
There are numerous factors car insurance companies take into consideration when choosing how much to charge for coverage. A few of these factors affecting your personal policy have already been mentioned, but others are based around where you live and drive. These include things like:
- Number of drivers in the region
- Crime levels
- Road Safety (how many accidents each locality has)
- Off-street parking availability
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. Different cities and towns will each have different rates, so guides like these are a handy way to learn more.
How can I find the cheapest car insurance in Palm Bay?
Equipping 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 can handle all of this for you. Simply enter your ZIP Code below, answer a few questions about your driving profile, and you'll be quickly comparing the cheapest quotes from dozens of car insurance companies offering policies in Palm Bay.
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Palm Bay Auto Insurance FAQs
What factors affect car insurance quotes in Palm Bay?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your age and gender, but also factors like your vehicle's make and model, year, driving record, credit score, as well as your marital status and address.
Why is the cost of car insurance in Palm Bay different from other neighboring cities?
Parking situations, crime rates, and local laws -- 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 Palm Bay?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, 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 Palm Bay?
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, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Palm Bay or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.
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