Florida is one of the most expensive states for car insurance. According to Bankrate’s 2021 study of quoted annual premiums, the average driver pays $3,314 for full coverage insurance and $1,544 for minimum coverage insurance annually in Miami. It makes Florida one of the most expensive states for car insurance, which may not come as such a surprise given the extreme weather and many uninsured drivers in the Sunshine State.
However, it is possible to find affordable rates. To find the best car insurance in Texas, our editorial team regularly reviews coverage options, pricing, discounts, and third-party ratings. Based on these factors and more, this is the best cheap car insurance in Miami for 2022.
Best car insurance companies in Miami
The best car insurance companies in Miami for 2022 are Geico, State Farm, Progressive and Allstate. These companies were selected for their affordable premiums, third-party ratings, financial strength scores, discount options, policy offerings and customer service reviews.
|Insurance company||J.D. Power customer satisfaction score||Average annual premium for minimum coverage||Average annual premium for full coverage|
|Allstate||851 / 100||$1,546||$3,170|
|Progressive||834 / 100||$1,820||$3,449|
|State Farm||826 / 100||$1,488||$2,641|
Allstate was rated as the best car insurance company in Florida for overall customer satisfaction in J.D. Power’s 2021 U.S. Auto Insurance Study. Allstate is the most expensive provider on our list, with an average full coverage premium of $3,170, but the higher cost is still lower than the state average and might be worth it for some drivers. Allstate offers a variety of add-on coverages and discounts, and it has a disappearing deductible program that lowers your premium by $100 for each claims-free year, up to $500.
Learn more: Allstate Insurance review
Geico is a popular insurance provider for drivers who want to pay the lowest rate possible. In Miami, the average full coverage policy from Geico costs $2,268, which is over $1,500 less than Miami’s average rate. In addition to cheap premiums, Geico also offers a variety of discounts for further savings. Additional coverage options include emergency road service, rental reimbursement, and mechanical breakdown insurance.
Learn more: Geico Insurance review
Progressive’s car insurance policies are slightly more expensive in Miami. The average full coverage policy costs $3,449 per year, which is still lower than Miami’s average rate. However, Progressive is a great option for drivers who want customizable coverage options. With Progressive, you can enhance your policy with roadside assistance, custom parts coverage, rideshare insurance and more.
Learn more: Progressive Insurance review
State Farm is a well-known insurance provider, and many Miami drivers rely on the company for their insurance needs. The average full coverage policy from State Farm costs $2,641, but drivers can apply several discounts to get a lower rate or enroll in safe driver reward programs. State Farm does not offer many add-on coverages, but it does have several online tools and a highly-rated mobile app.
Learn more: State Farm Insurance review
Cheapest car insurance in Miami
Car insurance in the state of Florida is expensive, especially compared to the national average rate. The average cost of car insurance in Florida pays $3,314 annually for full coverage insurance, which is significantly cheaper than Miami’s average rate. But based on our research, Allstate, Geico, Progressive, and State Farm offer cheaper policies than what the average driver pays in Miami. MetLife’s coverage is more expensive, but the provider offers lots of discounts to bring the premium down, including policy bundling.
|Insurance Company||Average Annual Premium for Minimum Coverage||Average Annual Premium for Full Coverage|
The table above includes the cheapest car insurance rates from the most popular carriers based on market share. However, the cheapest insurance company is not necessarily the best insurance company. These five providers have pros and cons and may not be good options for every driver in Miami.
For example, Geico and State Farm only have a handful of coverage options. Drivers that want to customize their coverage should look at Allstate or Progressive instead. Geico is the only insurance company that offers a military discount, so Miami residents in the armed forces might prefer Geico over other companies. Additionally, drivers who want to get a quote online should not look at MetLife. It is the only company on our list that does not offer instant rates online.
Miami insurance requirements
Bodily injury liability is not required in Florida but drivers do have to prove their ability to pay for damages under the “financial responsibility law.” If a driver does purchase car insurance to satisfy the law, the minimum requirements are:
- $10,000 bodily injury liability per person
- $20,000 bodily injury liability per accident
Uninsured motorist coverage must be offered but can be declined in writing.
Purchasing no-fault car insurance alone means you could pay a lower price. However, drivers in Miami should consider purchasing more coverage than what is legally required. For example, no-fault car insurance will not cover your vehicle’s damages after an accident or pay to replace a stolen vehicle. Full coverage car insurance is more expensive, but it offers significantly more protection.
Car insurance discounts in Miami
Even though car insurance in Miami can be expensive, there are ways to lower your premium. Most car insurance providers offer discounts that can help save money. One thing to consider is how the make and model of the vehicle influence premiums.
Some of the best car insurance discounts in Miami include:
- Car safety features: Cars with safety features like anti-lock brakes and an anti-theft system are less likely to have a claim. If your car has these features, your insurance company might give you a discount on your collision or comprehensive policy.
- Good student: College or teen students that maintain a minimum GPA or have a stellar report card can often qualify for a discount on their car insurance policy.
- Reducement mileage: The less you drive, the less likely you are to get into an accident. Many insurance companies offer discounted rates for infrequent drivers.
- Pay in full: Paying your annual car insurance premium upfront and in full usually means you can get a small discount on your policy.
Frequently asked questions
What is the best car insurance company?
There are thousands of car insurance companies on the market, but there is not one company that is the best for every driver. For example, some companies are good for drivers who want a low rate, and others are good for drivers who want customizable coverage.
How much does car insurance in Miami cost?
The average driver in Miami pays $3,314 for full coverage insurance and $1,544 for minimum coverage insurance. But keep in mind that insurance rates vary on specific rate factors, such as your age, gender, credit score (in most states), claims history, the type of car you drive, and more.
How much car insurance do I need in Miami?
Drivers in Miami are only required to carry no-fault insurance, including $10,000 in Personal Injury Protection (PIP) and $10,000 in Property Damage Liability coverage. However, Miami drivers should consider purchasing full coverage car insurance, which includes damage protection for their vehicle.
What makes up full coverage car insurance?
While minimum liability carries just the basic required coverage, full coverage car insurance gives you far more protection. Full coverage car insurance typically includes comprehensive and collision insurance. However, it can also include other types of car insurance coverage, like uninsured motorist, underinsured motorist and personal injury protection (PIP) coverage.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a cleaning driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.