Cheapest car insurance companies in Miami 

According to a study by Insurance.com, the cheapest car insurance companies in Miami for 2023 are Geico and State Farm

In Miami, Geico provides the cheapest auto insurance rates to drivers at an average annual premium of $2,402 annually

In Miami, what you pay for car insurance depends on factors such as your location, driving history, coverage level, and the insurance carrier. Take time to compare price quotes from at least three insurers to get the best coverage at an affordable rate. The table below shows the car insurance companies with cheap insurance rates. 

CompaniesAverage annual rates
Geico$2,402
State Farm$3,094
Nationwide$3,413
Travelers$3,566
Progressive$3,824
United Automobile Insurance$3,845
Mercury Insurance$3,996

Cheapest car insurance cost in Miami by Age Group 

Geico is the cheapest option for car insurance in Miami for teen drivers, with average annual premiums at just $7,220 annually. Teenagers face high insurance costs due to inexperience and higher accident rates.

However, teen drivers who maintain good grades or stay on their parent's policy can qualify for significant insurance discounts.

Geico is the cheapest car insurance company for young adults. It offers full coverage auto insurance for young drivers in Miami at about $4,363 per year

As Miami drivers transition into their 30s, they can enjoy significantly lower auto insurance costs compared to their 20s. Geico stands out as the cheapest car insurance option for adult drivers, with an annual premium of $2,476

If you are a senior driver in Miami and looking for a cheap car insurance company, then consider buying insurance from Geico. It is the cheapest auto insurance company for senior drivers, with an average premium of $2,270 per year

CompanyTeensYoung AdultsAdultsSeniors
AllstateN/A$6,480$4,683N/A
FarmersN/AN/A$3,762$3,688
Mercury InsuranceN/A$5,630$3,990$3,840
Geico$7,220$4,363$2,476$2,270
State Farm$7,982$4,692$3,090$2,982
United Automobile Insurance$8,956$5,248$3,858$3,658
Nationwide$10,535$4,689$3,333$3,371
Progressive$10,651$5,883$3,852$3,670
Travelers$11,803$5,538$3,587$3,472
National General Insurance$11,910$6,978N/AN/A

Cheapest car insurance companies in Miami by driver profile 

Your driving profile plays an important role in determining your car insurance rates in Miami. Those with past accidents, speeding tickets, or other traffic citations on their record can expect increased insurance rates compared to drivers with clean driving records.

To find the cheapest car insurance company in Miami, it's important to compare auto insurance rates from multiple providers. This way, you can find the best deal that meets your needs and budget. 

Here are some of the cheapest car insurance companies in Miami based on driver profile. 

Geico has the cheapest rates for Miami drivers with poor credit looking for affordable auto insurance. At an annual cost of $3,149, Geico offers substantial savings among the insurers analyzed.

Here are car insurance carriers that offer affordable rates for drivers with poor credit scores in Miami.

CompanyAverage annual rates
Geico$3,149
Nationwide$5,228
State Farm$5,318
Allstate$6,534
Travelers$6,764
Progressive$6,873
Farmers$8,445

Based on recent data analysis, 30-year-old drivers in Miami with speeding tickets on their driving record can get the cheapest car insurance rates from Geico at an annual cost of $2,888.

Remember that the cheapest car insurance company for you may not be the cheapest company for someone else. Ensure you compare car insurance quotes from various carriers to secure the most favorable deal. This way, you can find the insurance company that offers the best rates and coverage for your specific needs. 

CompanyAverage annual premium
Geico$2,888
State Farm$3,006
Allstate$3,648
Travelers$4,812
Nationwide$4,998
Progressive$6,049
Farmers$6,577

Looking for affordable car insurance rates after an at-fault accident? It can be a challenge, but with comparison shopping, you might find a policy that suits your budget.

Drivers in Miami with at-fault accidents on their driving records can find the cheapest car insurance rates with Geico. Its full coverage policy costs an average of $2,638 annually.

CompanyAverage annual rates
Geico$2,638
State Farm$3,234
Travelers$4,837
Nationwide$4,996
Allstate$5,944
Progressive$7,185
Farmers$7,805

In Miami, State Farm has the cheapest car insurance rates for individuals with DUI on their record. The company provides a full coverage policy at an average cost of $3,006 a year

Drivers convicted of a DUI offense face substantial increases in their car insurance rates. To get affordable premiums, you should compare quotes from different insurance carriers.

CompanyAverage annual rates
State Farm$3,006
Geico$4,211
Allstate$5,404
Progressive$5,950
Farmers$6,023
Travelers$6,175
Nationwide$8,306

Average car insurance cost in Miami 

In Miami, the average annual cost for full coverage car insurance is around $3,345, which breaks down to approximately $279 per month. These rates are based on coverage levels of 100/300/100. On the other hand, the average yearly rate for state minimum coverage in Miami is about $1,244.

Full coverage car insurance may cost more than the state minimum, but it offers valuable protection beyond just covering damage to other drivers' vehicles. Unlike state minimum, full coverage includes damage to your vehicle in addition to liability coverage.

You can potentially lower your full coverage premium by comparing quotes from different carriers. It allows you to find the best coverage at a competitive price.

Average annual RatesState minimum average
$3,345$1,244

Methodology

Insurance.com commissioned 2023 data for the cheapest car insurance rates in cities from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:

  • 40-year-old male driver
  • Honda Accord LX
  • 12-mile daily commute, 10,000 annual miles
  • Good credit
  • Clean record

While the rates for drivers with poor credit, speeding tickets, DUI and at-fault accidents were sourced from the Auto Problems Report 2023.

Rates are based on coverage limits of:

  • $100,000 bodily injury per person
  • $300,000 bodily injury per accident
  • $100,000 property damage per accident
  • $500 comprehensive and collision deductible

Insurance.com analyzed rates from over 34,000 ZIP codes, 56 million quotes, and 136 companies. Based on the analysis, we have created lists of the cheapest companies for different driver profiles. USAA also made it to the list, but it offers services only to current and former military members and their families. Rates sourced from Quadrant Data Services for comparison purposes only; your rates may differ.