Who Has Cheap Auto Insurance for Teenagers in Florida?

Since we’re writing about auto insurance, the words cheap or affordable should not be used as a descriptor for auto insurance rates. Nonetheless, cheap auto insurance for teenagers can be hard, if not impossible, to find. Don’t let that ruin your day, because we are going to tell you how you can still find coverage that you can afford to pay for.

The vehicle model you are buying coverage for is one of the largest considerations that determines whether or not you find cheap car insurance for teenagers in Florida. Vehicles with lots of speed or power, a lack of safety features, or a high likelihood of having liability claims will cost substantially more to insure than more economical and safe models. The table below features auto insurance premiums for a handful of the cheaper automobiles to insure in Florida.

Data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in specific zip code location which can revise rates significantly.

Based upon the table data, you can presume that models like the Ford Escape, Hyundai Elantra, Honda CR-V, Honda Accord, and Toyota Prius will definitely be the most budget-friendly vehicles to insure for teen drivers. The price of auto insurance will tend to be more expensive just due to the fact that there is more risk for teenagers, but generally speaking those particular models will probably have the lowest prices that you’ll find.

One of the more important criteria that insurance companies use when figuring the annual cost of car insurance is where you choose to live. Urban areas that are densely populated like Hialeah, Miami, and Miramar tend to have higher auto insurance costs, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive cheaper rates.

The next table rates the priciest cities in Florida for teenagers to purchase a policy in.

Rate information is approximated as the specific geographic location can impact premiums significantly.

Comparison of full coverage and liability-only policies

Finding cheap car insurance for teenagers in Florida is the goal of most drivers, and one great way to save on the cost of insurance is to only buy liability coverage. The illustration below illustrates the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 2963,1259],[‘Age 30’, 1567,691],[‘Age 40’, 1523,641],[‘Age 50’, 1393,599],[‘Age 60’, 1353,589],[‘Age 70’, 1681,787]]);var options = {title: ‘Rate Comparison of Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Florida’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

On average, comprehensive and collision coverage on your policy costs $1,747 per year more than just insuring for liability. Many drivers will wonder if buying full coverage is a waste of money. There is no set guideline of when to stop paying for physical damage coverage, but there is a general guideline you can use. If the annual cost of coverage is 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s say your vehicle’s replacement cost is $11,500 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $10,500 after the deductible is paid. If it’s costing in excess of $1,050 a year for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some situations where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not remove full coverage.

How to find low-cost car insurance for teenagers

The list below details some thrifty ideas that can help Florida drivers locate lower-cost coverage.

• Increase the comprehensive and collision deductibles on your policy
• Increase your credit score
• Buying home and auto together can help save money
• Don’t waste money on full coverage for older vehicles
• Buy vehicles with good safety ratings
• Too many claims can make car insurance unaffordable
• Keep rates low by shopping around frequently

That last tip is particularly vital, as we stressed in this article. Prices charged by companies in Florida change constantly, so don’t be unwilling to buy from a different company if you find a cheaper price.

Having a favorite company is great, but it isn’t a good idea if that devotedness results in you overpaying a lot of money every month. In just a couple of minutes you could compare rates to find cheaper auto insurance for teenagers.

Best cheap insurance quotes for teen drivers

There are a variety of different ways to compare car insurance quotes in Florida, but the most popular are from an independent or non-exclusive agent, an exclusive insurance agent such as Liberty Mutual or State Farm, or direct online or over the phone from a company like Progressive or Geico.

They all follow the same basic process, but they differ in how they work.

Independent agents write for multiple companies and can compare rates with each one. Agents of this type are not required to write business for one company and can provide multiple price quotes, which may provide you with a better chance of finding cheaper coverage. If they find a lower price, your agent can switch companies and you can remain with the same agent.

An agent who is captive is usually just provide rates from one insurance company, a couple examples are a Farmers or Allstate agent. These agents are not able to compare rates from other companies, which will not provide a complete price comparison.

If you choose to buy car insurance direct, you do not use local agents and instead buy direct either online or via phone. This option can be good for consumers who do not have a need for a risk management assessment and have a good understanding of the limitations of their policy.

So which method is best for finding cheap car insurance for teenagers in Florida? It would be easy to say buying from a direct company saves the most money because there is no agent taking a commission, but unfortunately, that is not always true. It would also be easy to say buying from an independent agent is the best way to save because you have more choices, but that assumption is also not accurate. In a lot of cases, the exclusive agents have extremely competitive rates that are the lowest in Florida.

Since car insurance prices vary so much, the guaranteed way to not overpay for car insurance is to get quotes and compare. We highly recommend getting price quotes from independent, exclusive, and direct to have the best selection of rates to choose from. We compiled a list of companies with some of the cheapest online rates that you can click here to view.