Table of contents
How much is car insurance in Palm Bay?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that coverage in Palm Bay typically costs about $24 a month less than it does in the rest of Florida.
Drivers relocating the Palm Bay should take note of the differences in average rates. The cost of auto coverage in Palm Bay is about $18 more expensive than the national average.
While these numbers are the average rates for auto insurance in Palm Bay, that doesn't mean it's what you'll pay. 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 get factored into calculating the amount you'll be asked to pay 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 for your area, simply enter your ZIP Code below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
The longer you've been on the road, the more experienced of a driver you are. When it comes to your monthly premium, that experience can really pay off. In this case, 18-24-year-olds pay a lot more than someone who is at retirement age.
You can expect to see a decrease in your monthly premium drop about once a decade or so. Drivers in Palm Bay may see their rates climb back up a bit once they hit retirement age.
Average Car Insurance Rates by Gender
Although female drivers pay, on average, less than male drivers for car insurance, Palm Bay actually defies this trend. While female drivers pay $100 per month for car insurance coverage, males only pay about $96.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can vary wildly depending on your driving record. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. In Palm Bay, drivers with one accident on their record will experience rates around $127 a month. In addition, drivers with a single ticket on their record can expect to pay around $139 a month on average.
Wherever you live, accidents, tickets, and other driving infractions can cost you some serious cash. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$76|
|15 Years or Older||$93|
If you look at the first table above, the cheapest vehicles to insure in Palm Bay are usually trucks and vans, at $92 per month.
SUV drivers will see rates of about $93 to insure their vehicle, while car owners typically pay around $101 a month.
Your vehicle's age also plays a role in your monthly payment. Generally, newer vehicles are going to be the most expensive to insure. However, if your car is about 5 years old, you can expect to see your rates start dropping back down. The most expensive vehicles to insure in Palm Bay are vehicles two-to -three years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$103|
More often than not, married policyholders will pay slightly less to insure their car. This occurs because insurance companies commonly extend special discounts to policyholders with multiple vehicles that are on the same policy.
Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Palm Bay, with married couples paying about $17 less per month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$119|
Your living situation is another component of how insurance companies calculate your monthly rate. In Palm Bay, homeowners can expect to pay around $4 a month less than those who rent. But those who live at home with their parents can expect to pay significantly more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
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 when selecting an auto insurance policy.
In Palm Bay, car insurance rates rose from 2016-2018, before steadying out in 2019. Rates finished down in 2021, at $96 per month
How does Palm Bay compare to neighboring areas?
Why are car insurance rates in Palm Bay different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate several factors. While we mentioned the factors that affect your personal policy, others are based around where you live. These include things like:
- Road Safety (frequency of car accidents)
- Number of drivers in the region
- Off-street parking availability
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 learn more.
How can I find the cheapest car insurance in Palm Bay?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
Luckily, Compare.com has you covered. Just put in your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from the many car insurance companies offering policies in Palm Bay in no time.
Palm Bay Insurance FAQs
What factors affect car insurance quotes in Palm Bay?
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 marital status, credit score, address, and driving record.
Why is the cost of car insurance in Palm Bay different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like crime rates, local laws, and parking situations -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Palm Bay?
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 Palm Bay?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good 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?
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 Palm Bay 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?