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Cheap Car insurance in Miami, FL

Miami tops in Florida when it comes to car insurance. This won’t be a good news if you are living in any of Miami neighbourhood. When choosing a car insurance in Miami you should take utmost care and apply all the rewards and discounts to your premium to ensure the lowest rates are given to you. That is why it is important to know about in car insurance in Miami.

This article will give you an insight to which car insurance company provides the cheapest rates and insurance rates in the neighbourhoods. To know more about saving tips, Florida car insurance info or to get free cheap car insurance quote visit: Find Cheap Car Insurance in Florida

We will be covering the following topics in this case study.

Why is car insurance so costly in Miami?

Who has got cheapest car insurance in Miami?

How much it costs for car insurance in Miami neighbourhoods?

Why is car insurance so costly in Miami?

Car insurance is mandatory for drivers in Miami. The minimum requirement for car insurance is same as the state, $10,000 in property damage liability (PDL) and $10,000 in personal injury protection (PIP). But the average insurance rate comes around $2,148 which is the highest in the Florida state. Being one of the most populous city in US, Miami roads has the highest traffic which will be a nightmare at peak hours. This also increases the accident rates.

The major reasons for a high car insurance premium in Miami might be:

  • Number of vehicles registered is state maximum around 66,422 in 2016.
  • Vehicle crashes in Miami is 44,982 in 2017 as of November, which is higher when compared to other counties in Florida.

Who has got cheapest car insurance in Miami?

Cheap car insurance rates in Miami

Methodology: The rates given is for the minimum requirements that is $10,000 for both PIP and PDL for a 26 year old female. The price may vary depending on many factors. Please get a quote applying available discounts to know how cheap insurance rates can be for you.

GEICO and Esurance have comparatively cheaper rates for car insurance in Miami area. USAA offers the cheapest rate for Miami but they offer insurance only for Military members and their family.

The Direct General insurance company had the highest insurance rates average of $4,866/year.

When it comes to getting the cheaper insurance, make sure to get quote and compare them for different insurance companies. This is very important since most companies offer insurance discount and bonus programs which are based on your previous driving and insurance claim history. For instance if you haven’t made any claims for your car you will be eligible for No Claim Bonus. Applying all available discount options, you will be getting the cheapest insurance rates from the major companies. Thus you will be getting most of the insurance coverages at the discounted rate for the same price as for low coverage insurance without discount.

Company Premium
ALLSTATE INSURANCE COMPANY $1,850
DIRECT GENERAL INSURANCE COMPANY $4,866
ESURANCE PROPERTY & CASUALTY INSURANCE COMPANY $982
GEICO GENERAL INSURANCE COMPANY $828
INFINITY AUTO INSURANCE COMPANY $1,521
LM GENERAL INSURANCE COMPANY $3,023
PROGRESSIVE SELECT INSURANCE COMPANY $2,442
SAFECO INSURANCE COMPANY OF ILLINOIS $2,343
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY $2,006
THE STANDARD FIRE INSURANCE COMPANY $1,939
UNITED AUTOMOBILE INSURANCE COMPANY $1,759
UNITED SERVICES AUTOMOBILE ASSOCIATION $508

Car insurance by neighbourhoods in Miami

Buena Vista has the cheapest car insurance rate of $471 and West Flagler has the highest premium of $2853. It is found that the rates are comparatively high in most of the neighbourhoods.

Neighbourhood Premium
Allapattah $2,841
Brickell $1,561
Buena Vista $471
Civic Center $2,841
Coconut Grove $1,690
Coral Way $2,601
Design District $2,778
Downtown $2,841
Edgewater $1,461
Flagami $2,428
Grapeland Heights $2,841
Liberty City $2,778
Little Haiti $2,778
Little Havana $2,841
Lummus Park $2,841
Midtown $1,461
Omni $2,468
Overtown $2,841
Park West $2,468
The Roads $1,673
Upper East Side $1,461
Venetian Islands $1,279
Virginia Key $1,381
West Flagler $2,853
Wynwood $2,778

Coconut Grove

With relaxed sidewalk cafes around CocoWalk mall and has mangrove forest which gives the name Coconut Grove.

Car insurance rate in Little Havana: $1,690

Downtown

One of the fastest growing city, Downtown Miami is known as a cultural, financial, and commercial center of South Florida. The population is around 88,540.

Car insurance rate in Downtown Miami:  $2841

Flagami

The main attraction of this neighbourhood is small shopping centres. The population is around 50,834.

Car insurance rate in Flagami:  $2,428

Little Havana

Famous neighbourhood for Calle Ocho Festival and home to the Cuban exiles, This is the most populous neighbourhood in Miami with a population of 76,163.

Car insurance rate in Little Havana: $2841

Coral Way

This neighbourhood gets its name from the beautiful Coral Way street. Coral Way has a population of 35,062.

Car insurance rate in Coral Way:  $2,601

Allapattah

Spread in the city of Miami and part of Metropolitan Miami, this neighbourhood also has nickname Little Santo Domingo. Allapattah has a population of 54289.

Car insurance rate in Allapattah:  $2841

West Flagler

This was part of the Little Havana which is bisected by Flagler street. The population is 31,407.

Car insurance rate in West Flagler:  $2841

Driving in Miami

Miami Dade county is on the top list of counties with the most number of crashes in Florida state. The traffic in Miami is really bad making you sit in car long enough though it is unavoidable. At the peak times if you avoid the following routes you can save sometime without getting stuck in traffic. The busiest routes are US-1 (South Dixie Highway), I-95 and the HOT Lanes, 836 (Dolphin Expressway), Florida’s Turnpike, Don Shula, Snapper Creek and Airport Expressways, Surface Streets. Drive safe and don’t forget to wear seatbelts. Happy driving! 🙂

References

Insurance rates www.floir.com/choices.aspx

Crash statistics https://www.flhsmv.gov

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