How much does auto insurance cost in Palm Bay?
The typical Palm Bay driver pays $2,084 per year for auto insurance. That's cheaper than the average across Florida ($2,309) and more expensive than the national average of $1,548. Our guide to Palm Bay car insurance includes average rates based on age, credit score, driving history, and marital status. Keep reading to learn more!
PALM BAY AUTO INSURANCE RATES
|Palm Bay Average (annual)||Florida Average||National Average|
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Palm Bay car insurance premiums by company
One of the best ways to save on auto insurance is to compare rates from multiple companies and to choose the insurer that best fits your coverage needs. For a typical driver, State Farm offers Palm Bay's most affordable premiums. Reference below the top options for affordable insurance in Palm Bay. Don't forget to get car insurance quotes based on your unique driving profile.
PALM BAY AUTO INSURANCE PREMIUMS BY COMPANY
|Insurer||Average Yearly Rate|
Palm Bay auto insurance rates by age
The age group that enjoys the lowest auto insurance rates in Palm Bay are drivers in their age_50s, who pay an average of $1,914per year. Rates for Palm Bay drivers in their age_60s are also relatively affordable, at just $1,958 per year.
Teen drivers pay Palm Bay's most expensive auto insurance rates. When drivers hit their 20s in Palm Bay and move out of the teenage age bracket, they reduce their premiums substantially. In Palm Bay, teenage drivers pay $5,898 — a full $3,940 more than the second-most expensive rate paid by an age group.
CAR INSURANCE RATES BY AGE TIER IN PALM BAY
|Age bracket||Average Yearly Rate|
Palm Bay car insurance rates by gender and marital status
In some cases, a driver's gender and marital status may influence the car insurance rates they pay. In most locations in the US, single drivers pay more than married drivers based on data that says they're more likely to file claims. Married drivers in Palm Bay pay $87 less than single drivers for auto insurance. Rates for those who are widowed are also much cheaper than rates for those who are single. In Palm Bay, insurance rates for those who are widowed are less expensive than rates for those who are single.
Gender is another factor that can affect auto insurance rates. In Palm Bay, female drivers pay more for auto insurance than do male drivers: $49 per year, to be precise.
PALM BAY AUTO INSURANCE RATES: BY MARITAL STATUS AND GENDER
|Gender/Marital Status||Average Yearly Rate|
Palm Bay auto insurance premiums by incident history
No matter where you live, steering clear of accidents and citations is the best way to keep your auto insurance rates low. Speeding citations, reckless driving charges, DUIs and DWIs, and at-fault accidents all tend to bring about rate increases.
Palm Bay drivers found guilty of reckless driving pay a steep price when it comes to auto insurance, facing a rate increase of $1,067 per year versus the city average. A ticket for speeding results in a $529 rate hike while a DWI or DUI violation costs $957per year in extra insurance expenditures.
PALM BAY CAR INSURANCE RATES AFTER A VIOLATION OR ACCIDENT
|Violation||Average Annual Rate|
|At-fault Accident (damages less than $1,000)||$2,872|
|At-fault Accident (damages greater than $2,000)||$2,872|
|Speeding Ticket (16-20 mph over speed limit)||$2,613|
Palm Bay auto insurance rates by credit score
One of the byproducts of a good credit score is lower car insurance costs. Drivers who keep their credit score up typically pay less for auto insurance than do drivers with less-than-stellar credit histories. In Palm Bay, an improvement in credit score from the "Very Poor" tier (300-579) to the "Exceptional" tier (800-850) corresponds to a 59% drop in car insurance costs. Moving from "Very Poor" to "Fair" credit is a great way to save money on car insurance. In Palm Bay, improving your credit to "Fair" could help you earn $1,528 in savings on insurance premiums each year.
PALM BAY CAR INSURANCE PREMIUMS BY CREDIT SCORE
|Credit Score||Average Yearly Rate|