How Much Does Auto Insurance Cost for Homeowners in Florida?

The words “affordable” and “auto insurance” probably shouldn’t be used together, especially when shopping around for the cheapest car insurance for homeowners. Because it’s so expensive, let’s familiarize you with a few of the factors that have an effect on car insurance premiums, and find out if you can take the sting out of the next policy you buy.

One of the many things that is used to calculate auto insurance rates is where your home is located in Florida. Cities with larger populations or higher claims like Hialeah, Miami, and West Palm Beach will most likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower coverage costs.

The illustration below displays the most costly cities in Florida for homeowners to buy an auto insurance policy in.

Information shown are approximated as the specific zip code location can lower or raise coverage prices considerably.

The vehicle model to be insured is probably the most important factor that determines whether or not you can buy low-cost car insurance for homeowners. Vehicles with higher performance, a lack of advanced safety features, or high incidents of liability claims will cost quite a bit more to insure than more modest models. The table below illustrates auto insurance premiums for a selection of the most cost-effective automobiles to insure.

Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Prices do not factor in the specific area where the vehicle is garaged which can influence coverage rates greatly.

Looking at the rates, vehicles like the Chevrolet Traverse, Ford Edge, and Hyundai Tucson should be the most economical vehicles to insure for people who own their homes.

Trying to find reasonably-priced car insurance is not always easy, and finding out which company quotes the lowest-priced car insurance rates for homeowners will require additional perseverance. Rates will most likely be a little bit lower than the average policy in Florida, with the lower cost attributed to the potentially lower risk that comes with selling coverage for people who own their homes. Competitive insurance should be available without having to search too hard.
Every insurance company has their own formula to set their prices, so we’ll go over the car insurance companies that tend to be cheaper in Florida.

It’s a good idea to know that Florida car insurance rates are calculated based on many things which can substantially change your annual premium. Simply having another birthday, buying a different vehicle, or having an at-fault accident can trigger rate changes resulting in some rates now being higher-priced than the competition.

Best Auto Insurance Prices for Homeowners

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USAA may have some of the best car insurance rates in Florida at around $957 per year. Electric, Amica, Progressive, and Travelers also make the cut as some of the lowest-priced Florida auto insurance companies.

As depicted above, if you currently have coverage with Electric and switched to USAA, you may realize a yearly price reduction of in the neighborhood of $789. Policyholders with Amica may save as much as $789 a year, and Progressive policyholders might see rate reductions of $890 a year.

If you want to see how much you could save, click here to start your free quote or click several companies below for low rates.

Remember that these premium estimates are averages across all drivers and vehicles in Florida and and are not calculated with a rate decrease for homeowners. So the company that is best for you may not even be shown in the list of companies above. That is why you need to get car insurance quotes using your own specific driver and vehicle information.

Is the best company Geico, Allstate, State Farm, or Progressive?

If you are shopping around for auto insurance for people who own their homes in Florida, the companies that insure more vehicles than anyone else are Geico, Allstate, State Farm, and Progressive. When combined, they make up nearly half of all car insurance policies in America. All of them have different features and discounts that can influence your buying decision. The following table shows some of the different features shoppers can expect to find with each one.