How much does auto insurance cost in Miami?
Auto insurance costs an average of $3,075 per year in Miami. That's more expensive than the average across Florida ($2,309) and more expensive than the national average of $1,548. Keep reading to learn more about how much you can expect to pay based on your marital status, age, credit score, and other common factors in Miami.
MIAMI CAR INSURANCE RATES
|Miami Average (annual)||Florida Average||National Average|
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Miami car insurance costs by company
The company-by-company differences in car insurance rates can be substantial, so it's important to compare quotes thoroughly and choose your insurer carefully. In Miami, GEICO provides the most affordable rates for the typical insurance customer. See below the best companies for cheap auto insurance in Miami — but don't forget to get personalized car insurance quotes to match your driving profile.
MIAMI CAR INSURANCE PREMIUMS BY COMPANY
|Insurer||Average Rate (annual)|
Auto insurance premiums by age in Miami
Miami drivers in their 50s enjoy relatively affordable auto insurance rates, paying just $2,802per year, on average. Those in their 60s don't pay much more ($2,848).
Young drivers aged 16 to 19 pay the most for car insurance in Miami. When Miami drivers hit their 20s, their insurance rates drop substantially. The cost differential between the car insurance premiums paid by teenage drivers and drivers in their 20s in Miami is $4,753, the largest such difference between any two age brackets.
MIAMI CAR INSURANCE PREMIUMS BY DRIVER AGE
|Age group||Average Yearly Rate|
Miami car insurance rates by marital status and gender
In some cases, a driver's marital status and gender may affect the auto insurance rates they pay. Married drivers usually pay less for car insurance than their single counterparts. In Miami, married motorists pay $111 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 Miami, insurance rates for those who are widowed are less expensive than rates for those who are single.
Gender is another factor that can affect car insurance rates. In Miami, female drivers pay $99 per year more than do male drivers.
MIAMI CAR INSURANCE PREMIUMS BY GENDER AND MARITAL STATUS
|Marital Status/Gender||Average Yearly Rate|
Miami car insurance premiums by citation and accident history
Maintaining a clean driving record is an effective way to minimize your auto insurance costs. At-fault accidents, DUIs, reckless driving citations, and speeding tickets all contribute to expensive auto insurance rates, as insurance companies reward low-risk drivers with the gift of affordable rates.
Miami drivers found guilty of reckless driving pay a steep price when it comes to auto insurance, facing a rate increase of $1,548 per year versus the city average. A ticket for speeding results in a $787 rate hike while a DWI or DUI violation costs $1,388per year in extra insurance expenditures.
MIAMI CAR INSURANCE RATES AFTER A COLLISION OR CITATION
|Violation/Incident||Average Annual Rate|
|At-fault Accident (damages less than $1,000)||$4,277|
|At-fault Accident (damages greater than $2,000)||$4,277|
|Speeding Ticket (16-20 mph over speed limit)||$3,862|
Miami car insurance rates by credit level
It's no secret credit score is closely correlated with car insurance rates. In fact, Miami drivers who build their credit score from the "Very Poor" tier (300-579) to the "Exceptional" tier (800-850) earn a 62% decrease in car insurance rates. Moving from "Very Poor" to "Fair" credit is a great way to save money on car insurance. In Miami, improving your credit to "Fair" could help you earn $2,510 in savings on insurance premiums each year.
MIAMI CAR INSURANCE RATES BY CREDIT SCORE
|Credit Level||Average Annual Rate|
What drives up car insurance rates in Miami?
Where you live in Miami affects your car insurance rates. Besides your driving history and credit score, where you live is one of the biggest contributing factors to the car insurance rates you'll pay. The reason? Crime, theft and uninsured motorists vary by zip code. So if you find yourself in a neighborhood that doesn’t play well with others, car insurance companies may consider you a high risk to insure, meaning: your rates could be higher than those of a pal who lives just around the block. And, unfortunately Miami is no exception to the rule. From zip code 33140 to 33125, premiums rise by 45 percent—that’s $1214.
Expensive Miami Zip Codes: 33136, 33130, 33128, 33135, 33125
Cheap Miami Zip Codes: 33140, 33141, 33154, 33197, 33160
Miami Driving Conditions
Inclement weather goes hand in hand with wet brakes, slick roads, and decreased visibility.
And that's not the worst of it. More than 700,000 weather-related car accidents occur each year. In Miami, you can expect 135 rainy days with an annual rainfall of 61.9 inches. Miami is also known to experience thunderstorms and occasional hurricanes.
Rainy Days a Year
Avg. Annual Rainfall
Avg. Annual Snowfall
Find Local Miami Agents
iSure Insurance Brokers
8700 West Flagler Street Suite 270, Miami, FL 33174
Dopazo & Associates Inc
8725 NW 18 Terrace Ste 300, Miami, FL 33172
Butler, Buckley, Deets, Inc.
6161 Blue Lagoon Dr #420, Miami, FL 33126
Prime Insurance Alliance, Inc.
5835 Blue Lagoon Dr, Ste 304, Miami, FL 33126
ABACOA Insurance Group, Inc.
8000 NW 7th St Ste 202, Miami, FL 33126
The Madison Insurance & Financial Group
15190 SW 136th St Suite 21, Miami, FL 33196
Arthur J Gallagher Risk Management Services, Inc.
8333 NW 53rd St Ste 600, Miami, FL 33168
Insurance Marketing Center Inc
2500 NW 79 Ave Ste 208, Miami, FL 33122
Kahn Carlin Insurance
3350 S. Dixie Highway, Miami, FL 33133
Koski & Co, Inc
9875 Sunset Dr, Miami, FL 33173
Morris & Reynolds Insurance
14821 South Dixie Highway, Miami, FL 33176
Insurance Office of America, Inc.
1150 NW 72 Ave Ste 530, Miami, FL 33126
BenTrust Insurance Group
701 Waterford Way #300, Miami, FL 33126
NCF Insurance Associates, Inc.
8700 W Flagler St Ste 320, Miami, FL 33174
PROFESSIONAL INSURANCE AGENCY GROUP INC
8660 W Flagler St, Ste 101A, Miami, FL 33144
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