Key Takeaways
- GEICO offers the cheapest rates in Miami, charging $38 a month for minimum coverage and $166 for full coverage.
- On average, Miami drivers pay $357 a month for full coverage — that’s over $100 more than the statewide average cost of $246.
- State Farm is the cheapest option for drivers with a speeding ticket.
In this article
The cheapest car insurance companies in Miami, FL
Most drivers in Miami will find the cheapest car insurance from GEICO. The company offers city-leading rates for:
- Full and minimum coverage
- Senior drivers
- Drivers with bad credit
- Drivers with accidents
GEICO may or may not be the cheapest car insurance company for you. This is because rates are based on several factors, including the car you drive, your driving record and your insurance history.
The best way to get the lowest rate on a policy is to compare car insurance quotes from a number of companies.
Florida car insurance state minimums
All drivers in Florida are required to carry coverage for property damage liability (PDL) and personal injury protection (PIP). Those coverages must meet the following minimums:
| Coverage type | State requirements |
|---|---|
| Personal injury protection | $10,000 |
| Property damage liability | $10,000 |
Cheapest minimum-coverage auto insurance rates in Miami: GEICO
GEICO leads the way with the cheapest minimum-coverage auto insurance in Miami. Per month, the company charges $38, on average.
Citywide, drivers pay an average of $140 a month for minimum-coverage car insurance. That means GEICO offers rates that are 73% cheaper.
| Insurance company | Monthly rate |
|---|---|
| GEICO | $38 |
| State Farm | $94 |
| Travelers | $124 |
| Progressive | $168 |
| USAA* | $173 |
| Allstate | $246 |
| Rates are for minimum-coverage car insurance for a 35-year-old male with a good driving record. *Only available to current/former military and their families. | |
Cheapest full-coverage auto insurance rates in Miami: GEICO
GEICO has the lowest full-coverage auto insurance rates in Miami, charging $166 a month, on average.
The average cost of full-coverage auto insurance in Miami is $357 a month, so GEICO is 53% cheaper.
Full coverage typically refers to a policy with comprehensive and collision coverages, in addition to the state-required minimums. Depending on the state, drivers may add additional coverage for towing costs, medical payments, rental cars and more.
| Insurance company | Monthly rate |
|---|---|
| GEICO | $166 |
| State Farm | $223 |
| Travelers | $298 |
| USAA* | $395 |
| Progressive | $413 |
| Allstate | $644 |
| Rates are for full-coverage car insurance for a 35-year-old male with a good driving record. *Only available to current/former military and their families. | |
Find out how much you could save on car insurance
Cheapest car insurance in Miami for drivers with bad credit: GEICO
Drivers with bad credit will find the cheapest car insurance at GEICO, which charges an average rate of $318 a month.
In many cases, drivers with bad credit pay more for insurance, due to research showing a correlation between credit scores and driving risk. In Miami, the average cost for a driver with bad credit is $636 a month.
| Insurance company | Monthly rate |
|---|---|
| GEICO | $318 |
| USAA* | $395 |
| State Farm | $522 |
| Travelers | $653 |
| Progressive | $662 |
| Allstate | $1,267 |
| Rates are for full-coverage car insurance for a 35-year-old male with poor credit and a good driving record. *Only available to current/former military and their families. | |
Cheapest car insurance for drivers with a prior incident
Drivers with a ticket or accident on their record will find the cheapest car insurance rates at State Farm, while those with an at-fault accident should head to GEICO.
Cheapest for drivers with a speeding ticket: State Farm
State Farm is the best source of cheap car insurance for drivers with a speeding ticket on their records. The company charges $240 a month, on average, for full coverage.
In Miami, the average driver with a speeding ticket pays $425 a month for full-coverage insurance. That’s 19% more than what drivers with clean records pay.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $240 |
| GEICO | $303 |
| Travelers | $375 |
| USAA* | $395 |
| Progressive | $593 |
| Allstate | $644 |
| Rates are for full-coverage car insurance for a 35-year-old male with one speeding ticket on his driving record. *Only available to current/former military and their families. | |
Cheapest for drivers with an at-fault accident: GEICO
Drivers with an accident on their records should head to GEICO for cheap car insurance, where they’ll find a city-leading rate of $247 a month.
Often, drivers with an accident on their record pay even more than those with a speeding ticket. This is the case in Miami, where the average driver with an accident pays $534 a month.
| Insurance company | Monthly rate |
|---|---|
| GEICO | $247 |
| State Farm | $259 |
| Travelers | $397 |
| USAA* | $506 |
| Progressive | $625 |
| Allstate | $1,171 |
| Rates are for full-coverage car insurance for a 35-year-old male with one at-fault accident on his driving record. *Only available to current/former military and their families. | |
Cheapest for drivers with a DUI: State Farm
State Farm has the lowest premiums for drivers with a DUI, with average costs of $240 a month.
On average, Miami drivers with a DUI pay $500 a month, so State Farm offers a discount of over 50%.
| Insurance company | Monthly rate |
|---|---|
| State Farm | $240 |
| GEICO | $312 |
| Travelers | $456 |
| Progressive | $498 |
| USAA* | $664 |
| Allstate | $831 |
| Rates are for full-coverage car insurance for a 35-year-old male with one DUI on his driving record. *Only available to current/former military and their families. | |
Cheapest car insurance for senior drivers: GEICO
For cheap car insurance as a senior driver in Miami, go to GEICO, where the average monthly rate is $149.
Typically, senior drivers are considered cheaper to insure than their younger counterparts. This is true in Miami, where the average rate for a 65-year-old is $316, compared to $357 for a 35-year-old.
| Insurance company | Monthly rate |
|---|---|
| GEICO | $149 |
| State Farm | $203 |
| Travelers | $247 |
| USAA* | $344 |
| Progressive | $354 |
| Allstate | $600 |
| Rates are for full-coverage car insurance for a 65-year-old male with a clean driving record. *Only available to current/former military and their families. | |
Get cheap car insurance no matter your age
Cheapest car insurance for young drivers: GEICO
GEICO also is the cheapest car insurance company for young drivers, charging $92 a month for minimum coverage and $491 a month for full coverage.
As evidenced by each insurer’s monthly averages, young drivers often pay more for insurance than their older counterparts.
| Insurance company | Minimum coverage | Full coverage |
|---|---|---|
| GEICO | $92 | $491 |
| State Farm | $182 | $553 |
| Travelers | $227 | $775 |
| Progressive | $323 | $1,004 |
| USAA* | $362 | $835 |
| Allstate | $487 | $2,167 |
| Rates are for an 18-year-old male with a clean driving record. *Only available to current/former military and their families. | ||
Cheapest car insurance for married drivers: GEICO
Married drivers get the best deals on car insurance at GEICO. The provider’s average monthly rate is $178 for full coverage.
| Insurance company | Monthly rate |
|---|---|
| GEICO | $178 |
| State Farm | $223 |
| Travelers | $298 |
| Progressive | $341 |
| USAA* | $360 |
| Allstate | $678 |
| Rates are for full-coverage car insurance for a married 35-year-old male with a good driving record. *Only available to current/former military and their families. | |
Car insurance laws in Florida
No-fault car insurance
Florida is a no-fault car insurance state. Unlike in “at-fault” states, Florida drivers must file a claim with their insurance company regardless of who is deemed responsible for an accident.
Financial Responsibility Insurance Certificate (SR-22)
An SR-22 form is a document confirming that a driver’s insurance policy meets the state-required minimums. In Florida, it’s only required for drivers returning from certain kinds of license suspensions.
Miami car insurance: FAQs
GEICO is the cheapest option for Florida drivers, charging $166 a month for full coverage and $38 a month for minimum coverage.
Miami drivers pay an average of $140 a month for minimum coverage and $357 a month for full coverage.
Florida law requires drivers in Miami and elsewhere in the state to have at least $10,000 of personal injury protection (PIP) and $10,000 of property damage liability (PDL) coverage.
Methodology
The rates shown in this article are based on an analysis of more than 300,000 auto insurance quotes obtained from Quadrant Information Services for sample drivers from across Miami, Florida.
Unless otherwise noted, our sample driver is a single 35-year-old with good credit. All sample drivers own a 2012 Honda Accord LX that they drive for an average of 13,500 miles per year.
Our senior base driver is a 65-year-old male with a good driving record. Our young base driver is an 18-year-old male with a good driving record.
Minimum-coverage rates reflect the cost of policies meeting the minimum liability limits required by the state.
Full-coverage policies include the following coverages, limits and deductibles:
- Bodily injury liability: $100,000 limit per person/$300,000 limit per accident
- Property damage liability: $100,000 limit
- Collision: $500 deductible
- Comprehensive: $500 deductible
Sources:
Auto insurance by city
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