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How much is car insurance in Miami?
|Area||Average Monthly Car Insurance Premium|
Car insurance policies in Miami are about $4 a month more expensive than the rest of Oklahoma.
If you're thinking of moving to Miami from out of state, you may still be in luck. It's about $5 cheaper than the national average to insure your vehicle in Miami.
Keep in mind that these are the average auto insurance rates for Miami, and that the rate you get could end up being something different. 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 your monthly premium.
Don't sweat it however, we've broken down average rates for Miami residents based on several different factors so that you can get a more accurate idea of what it might cost to insure your vehicle. 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|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The older you are, the more experience you're likely to have behind the wheel, right? When it comes to car insurance rates, that experience can really pay off. According to the table above, you can see that 18-24-year-olds pay twice as much as drivers 65 and older.
You can expect to see a decrease in your monthly premium drop about once a decade or so. Having said that, once you approach retirement age your rates may rise again in Miami.
Average Car Insurance Rates by Gender
In general, women pay slightly less for car insurance than men. The difference in Miami is around $33 per month. As illustrated in the table above, male drivers in the area pay about $89 on average, while female drivers pay around $56 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|1 Accident||Not Enough Data|
|Multiple Accidents||Not Enough Data|
One of the key factors in determining your car insurance rates is your driving record. Those with clean records will obviously pay less than those with infractions. Similarly, drivers with one ticket will typically pay around $70 on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||Not Enough Data|
|15 Years or Older||$58|
In terms of affordable coverage, the cheapest vehicles to insure in Miami are usually SUVs, at $63 per month.
SUV owners can expect to pay an average of around $63 a month for their policy, while truck and van drivers are usually around $97 to insure each month.
You may also see different rates based on how old your vehicle is. Newer vehicles are generally going to be the most expensive to insure. Once your car is around 5 years old, however, your monthly bill may start to dip back down. The most expensive vehicles to insure in Miami are vehicles eight-to-ten years old and eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$85|
On average, people who are married will pay slightly less to insure their car. This usually happens because companies will offer special discounts to policyholders with multiple vehicles that are on the same policy.
At a national level, single drivers usually pay more than married couples do for auto insurance. Miami follows that pattern, with the difference totaling to around $32 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$120|
Your housing status is another factor that affects your monthly rate. If you rent your home or apartment, expect to pay around $29 less than homeowners in Miami. 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 costs, depending on your insurance company.
Car Insurance Companies in Miami, OK
Recent trends in car insurance for Miami drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending when deciding when and where to shop.
The rates for auto insurance in Miami went up from 2017-2018, before steadying out in 2019. Insurance rates had been increasing again, hitting a high of $96 in 2021, and finished down at $54 in 2022.
How does Miami compare to neighboring areas?
Why are car insurance rates in Miami different from other areas?
Car insurance companies look at a lot of factors when they're choosing how much to charge for a policy. While we mentioned the factors that affect your personal policy, others are based around where you live. These include things like:
- Area regulations
- Amount of drivers
- Number of car accidents
- Local crime rates
- Off-street parking access
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Knowing 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?
While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But wait! Compare.com does all of that work for you. Put in your ZIP below, answer a few questions about your driving profile, and you'll be comparing the cheapest quotes from loads of the car insurance companies that offer plans in Miami.
Miami Insurance FAQs
What factors affect car insurance quotes in Miami?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your gender and age, but also factors like your address, driving record, marital status, credit score, plus your vehicle's year and make and model.
Why is the cost of car insurance in Miami different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like local laws, parking situations, and crime rates -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Miami?
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 Miami?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good 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, 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 Miami 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.