Cheapest Car Insurance Quotes in Miami, FL (2023)

When shopping for car insurance in Miami, Florida, it's helpful to know how much you can expect to pay. As everyday prices continue to increase with inflation and other market factors, saving money on your car insurance may be more critical than ever — especially in a city with high average auto insurance premiums. 

Minimum-coverage car insurance in Miami costs an average of $425 per month — approximately $102 more than the state average of $323 per month. Florida drivers live in the seventh most-expensive state for purchasing car insurance, with average rates comparable to New Jersey and Louisiana.

Miami is the seventh most-congested city in the United States, and Miami-Dade County has recorded more than 56,000 crashes in 2022.^[1] Purchasing car insurance protects you in an accident, so it’s important to find the right insurer for your insurance needs.

How much does car insurance cost in Miami?

The cost of car insurance varies widely depending on factors like your vehicle type and level of insurance coverage you choose. You should compare rates from multiple providers to find the best pairing of rates and coverage to fit your needs. 

Experts at Insurify analyzed the latest insurance rates in Miami to find the cheapest quotes available. Average insurance costs in Miami range from $176 for liability-only insurance to $910 per month for some full-coverage policies. Common factors that typically affect the cost of your insurance include your driving history, age, and credit score. 

• Cheapest liability-only insurance: National General, at $176 per month

• Cheapest full-coverage insurance: GAINSCO, at $295 per month

• Cheapest coverage for new/young drivers: Travelers, at $387 per month

Learn More: Cheap Auto Insurance in Florida

Cheapest car insurance in Miami: National General

National General offers the cheapest average rates in Miami. Factoring in the cost of all its liability and full-coverage options, the average rate for a policy with National General is $299 per month.

Drivers in heavy-traffic areas like Miami often receive higher rates from auto insurers trying to account for increased accident risks.

How much car insurance do you need in Miami?

Home to incredible beaches and a robust nightlife scene, Miami has some of the busiest roads in the country. And Florida frequently sees hurricanes and other tropical storms that affect the cost of insurance.

Florida law requires that drivers insure their vehicles with a minimum amount of coverage. Though full coverage isn’t required, drivers must have liability coverage. You’ll be required to show proof of insurance when registering your car and if you’re involved in a traffic incident or stop. 

• Property damage liability: Drivers are required to have $10,000 per accident for property damage liability. If you’re deemed liable in an accident, this covers the cost of repairs for the other vehicle. 

• Personal injury protection (PIP): Drivers must have at least $10,000 per accident for PIP coverage. This pays for medical payments, lost wages, and funeral costs.^[2]

Florida is a no-fault state, which means that the insurance providers for both involved parties will pay for expenses, regardless of fault. 

Florida DMV information

The Florida Department of Highway Safety and Motor Vehicles offers online and in-person services. At the Florida DMV, you can renew your driver's license, register your vehicle, pay speeding tickets, and access safety resources.^[3]

Tips for getting cheap car insurance in Miami

Saving money on your car insurance requires a bit of work. The best action you can take to secure the lowest rate possible is to compare rates from multiple auto insurers. Each auto insurer determines its rates with varying methodology. Comparing coverage and rates from various companies helps you find the most coverage for your money. 

In addition to comparing rates from multiple insurers, consider trying out the below tactics to help lower your rates:

• Improve your credit score. Many insurers use credit scores as a metric for determining insurance rates. You can improve your score by paying your bills on time and lowering your debt-to-income ratio. 

• Buy a safer vehicle. Insurance companies will look at the make and model of your car, as well as safety features like rearview cameras, airbags, and lane sensors. Safer cars may qualify for lower rates. 

• Bundle your home and auto insurance. Many insurance companies offer discounts for customers who combine multiple products, like homeowners or renters insurance and auto insurance. 

• Check for available discounts. Check with your employer, or other membership organizations like AARP, to see if you qualify for reduced insurance through specific companies. Veterans and teachers may also be eligible for special discounts, as well as students and safe drivers.

Read More: Car Insurance Discount Guide 

How age affects car insurance rates in Miami

Auto insurance providers consider your age when factoring insurance rates. In general, younger drivers pay higher rates than older drivers with more experience behind the wheel. Younger drivers are more likely to be involved in accidents, so insurance companies counter this risk with slightly higher rates for policies that include drivers under the age of 25.^[4]

Cheapest car insurance for young drivers in Miami

Young drivers can save money on car insurance by choosing a safe vehicle, maintaining good credit, and driving safely. You should also consider taking a defensive driving course and utilize available student-related discounts. The table below includes the average rates for a full-coverage policy at each company for young drivers in Miami. Travelers offers the best rate, at $387 per month.

Cheapest car insurance for middle-aged drivers in Miami

Middle-aged drivers often find lower rates than young and senior drivers. You can save money by combining home and auto policies, looking for discounts through your employers, and seeking companies that offer safe-driving discounts. In the table below, you’ll find the average rates for full-coverage policies provided at each included company. National General offers the lowest rate for middle-aged drivers in Miami, at $241 per month.

Cheapest car insurance for senior drivers in Miami

Senior drivers earn average rates slightly higher than middle-aged drivers. You can save money by enrolling in defensive driving courses, choosing a safe vehicle, and looking for discounts through organizations like AARP. The following table includes the cheapest quotes in Miami for senior drivers. Progressive provides the best rate, at $239 per month.

How credit scores affect cheap car insurance in Miami

Your credit report provides a lot of information. While both lenders and insurance companies use this information to make decisions, insurance companies specifically look at debt, bankruptcies, credit history, and debt repayments. The insurance company uses the information on your credit report to determine an insurance score. Those with lower scores are more likely to make a claim and pay higher rates.^[5] Drivers with poor credit tend to pay higher rates than drivers with good or excellent credit. 

Florida state law allows auto insurers to consider credit history when determining rates, with some guidelines and limitations in place. In 2022, Florida Statute 626.9741 went into effect and requires insurers to provide additional notifications to consumers if they use their credit score to decide on coverage.^[6]

Credit scores vary depending on the credit-scoring tool used; but they’re all similar enough that your score will likely fall into the same category for any scoring tool your insurance company uses. We’ll look at the FICO scores as a basic barometer for measuring your credit score because it's commonly used. 

The following numbers estimate how insurers (and lenders) view your credit score. 

• Poor: 300-579

• Fair: 580-669

• Good: 670-739

• Very Good: 740-799

• Excellent: 800-850

The table below shows the different average payments based on consumer credit scores. Take a look to see how your credit score may affect your insurance premium.

See More: Car Insurance Rates by Credit Tier

The effect of driving habits on car insurance in Miami

Your driving habits and record directly affect the cost of your insurance premium. Insurance providers base their premiums on several factors, including the likelihood that drivers will file a claim. Drivers with a history of DUIs, speeding, and at-fault accidents will likely receive higher rates to offset their risk. Additionally, if you regularly drive at high-risk times (at night or during storms), your premiums could be higher. 

The tables below outline how different driving infractions could increase your rates.

It’s important to note that when you see a negative difference in a table, it doesn’t mean that particular insurance company lowers rates for drivers with that infraction on their records. Rather, it may mean that our sample size was small — insurers may choose to not offer policies to drivers with that infraction. Your actual rate can vary, based on a number of factors other than driving record.

Cheapest car insurance with an accident in Miami: Progressive

The average monthly rates for Miami drivers with an accident are compared to rates of people with clean records in the table below. You’ll notice that, in most cases, drivers with an accident on their record face higher rates. Take a look at average rates from some of the top insurers in the city.

Cheapest car in insurance with a speeding ticket in Miami: Safeco

Similar to drivers with an accident on their record, drivers with a speeding ticket typically face increased rates than those with clean records. See how the insurers below compare. 

Car Insurance in other Florida cities

Car insurance rates can vary greatly from city to city — even within the same state. Here’s a look at car insurance quotes in some other Florida cities:

• Cheap Auto Insurance Quotes in Fort Myers, FL

• Cheap Auto Insurance Quotes in Jacksonville, FL

• Cheap Auto Insurance Quotes in Orlando, FL

• Cheap Auto Insurance Quotes in Tallahassee, FL

• Cheap Auto Insurance Quotes in Tampa, FL

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