This vibrant city's car insurance rates are among the highest in the country, and the Miami area tops the list of most expensive locations for Florida car insurance. Florida requires all drivers to buy $10,000 in personal injury protection so that anyone in a car accident is guaranteed treatment. In some parts of the state, that costs as little as $100 a year for a good driver. Around Miami, it can cost 20 times as much.
No two insurance companies will price their coverage the same, and when confronting Miami's eye-popping rates, comparison shopping becomes all the more important. The savings could be hundreds or even thousands of dollars.
To see how Miami car insurance rates compare, use our average rates tool below. Enter a ZIP code and it will show the average rate, as well as the highest and lowest, for your location.
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CarInsurance.com commissioned Quadrant Information Services to provide a report of average auto insurance rates for a 2016 Honda Accord for nearly every ZIP code in the United States. We calculated rates using data for up to six large carriers (Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm).
Averages for the default result are based on insurance for a married 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/100 ($100,000 for injury liability for one person, $300,000 for all injuries and $100,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. The rate includes uninsured motorist coverage.
Averages for customized rates are based on drivers ages 20, 30, 40, 50, 60 and 70 for the following coverage levels: state minimum liability, liability of 50/100/50 and 100/300/100 with $500 deductible on comprehensive and collision. These hypothetical drivers have clean records and good credit. Average rates are for comparative purposes.
Your own rate will depend on your personal factors and vehicle.
State Minimum: Required liability coverage to drive legally in your state; some states mandate additional coverage, such as personal injury protection, uninsured motorist, underinsured motorist.
Liability Only 50/100/50: $50,000 per person/$100,000 maximum per accident for bodily injury; $50,000 for property damage. Liability pays for injuries/damage you cause others.
Full Coverage 100/300/100: $100,000 per person/$300,000 maximum per accident for bodily injury; $100,000 for property damage; comprehensive and collision coverage with $500 deductible. Liability pays for injuries/damage you cause others. Comprehensive and collision pay for damage to your car.
CarInsurance.com analyzed car insurance rates from six car insurance companies for the same driver and car in nearly every ZIP code in Florida. The average rate of $3,275 in Miami ZIP codes 33125, 33128, 33130 and 33136 are among the highest in the state.
You’ll see in the chart below the top 12 most expensive ZIP codes in the Miami metro area, on average, as well as how much the price can vary for the same policy.
Miami car insurance rates
*Methodology for rates by ZIP code:
CarInsurance.com commissioned Quadrant Information Services to run auto insurance rates for a 2016 Honda Accord for more than 30,000 ZIP codes in the United States using six large carriers -- Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm. (In cases where an insurer’s rate wasn’t available, another major carrier's rate was substituted.) Averages are based on insurance for a single 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/$100,000 ($100,000 for injury liability for one person, $300,000 for all injuries and $100,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. This hypothetical driver has a clean record and good credit. The rate includes uninsured motorist coverage. Average rates are for comparative purposes. Your own rate will depend on your personal factors and vehicle.
Here's how Miami’s highest average rate ($3,275) compares to others:
$1,832 more than the least expensive average rate ($1,443) in Florida, Fanning Springs ZIP code 32693
$1,452 more than the state average ($1,823)
$1,920 more than the national average rate ($1,355)
Miami car insurance requirements
Florida state law requires the following minimum car insurance coverage:
Minimum bodily injury liability
Minimum property damage liability
*Bodily injury liability not required by state; many carriers require $10,000/$20,000
Cheapest car insurance in Miami
If you want just enough coverage to be legal on the road, buy the lowest amount of liability insurance your insurer offers. That’s the cheapest policy you can buy. Florida car insurance laws mandate that you must have a car insurance policy covering $10,000 in property damage liability and $10,000 in personal injury protection (PIP):
$10,000 in PIP covers you, your passengers and other authorized drivers of your car who are injured while in your insured vehicle
$10,000 for damage you cause to others’ cars and property
Bodily injury liability not required, but recommended
Florida car insurance laws don’t stipulate that you carry bodily injury liability insurance, which pays for injuries others get from an accident you cause. However, many car insurance companies do require it to be part of any policy they sell in the state. That’s because Florida is a no-fault state. Treatment for any injuries you suffer is covered by your personal injury protection, up to its limit. This is regardless of who caused the accident. If bills exceed that limit, the at-fault driver is legally personally responsible unless he or she has bought bodily injury liability coverage.
If you buy bodily injury liability coverage, the smallest amount you can buy is $10,000 per person (up to $20,000 per accident).
Best car insurance in Miami
Even a minor accident can put your savings and home in jeopardy if you have just the state required minimum of insurance. To protect your assets, you should buy liability insurance in the following amounts:
$100,000 to pay for others’ medical bills
$300,000 to pay for injuries to others in an accident you cause
$100,000 to pay for damage to others’ property
You should also consider buying these optional coverages:
Comprehensive, which replaces stolen cars and covers damage to your car from floods, fire, hail, vandalism.
Collision, which pays for damage to your car from accidents.
Comprehensive insurance and collision coverage are advised unless you have a very old car that’s of little value. That’s because these coverages pay out only up to the actual cash value of your car. In Florida, comprehensive costs $107 and collision costs $242, on average per year, for drivers, according to the Insurance Information Institute. Unlike liability insurance, these optional coverages come with a deductible. That’s the amount you pay before your insurance company pays. Typical deductibles amounts are $1,000, $500 and $250 – you choose which one you want. The higher the deductible is, the lower your rate will be.
The state average rate for a year of minimum coverage (with bodily injury amounts most insurers require) is $884, according to our rate analysis. If you increased your coverage to 50/100/50, you would pay less than $50 more a year, on average. You'd pay $939 more, or $78 a month, if you hiked your limits from the state minimum to full coverage (100/300/100).
Cheapest Miami car insurance companies
You'll see in the chart below how auto insurance companies in Miami rank on price for three different coverage sets. The driver profile is a married man, age 40 with good credit, driving a 2016 Honda Accord. Rates are an average of those for nearly all ZIP codes in the city.
Driving in Miami
Traffic in Miami: The city and nearby areas came in 11th (tied with Philadelphia) for the worst traffic in the country in a recent report by USA Today, which noted that commuters spend about 39 hours a year stuck in traffic.
Car crashes: Major accidents have resulted in an average of nearly 50 deaths a year in recent years (2012-2014).
Commuting: The average commute in Miami lasts 29.2 minutes.
Public transportation: The U.S. Census Bureau says that the majority of riders in Miami who commute to work by public transportation are white (about 6 percent), Hispanic (about 71 percent) and black (about 26 percent). The bureau notes that commuting is the main reason people turn to mass transit.
High Occupancy Vehicle rules: The HOV lane, also known as the carpool or diamond lane, is designed to reduce traffic congestion and promote ride-sharing on freeways. In the Miami area, only vehicles with at least two people, mass transit vehicles like buses, and motorcycles are allowed to use the lanes. Lanes may be restricted during specified hours.
Bad intersection: State Farm, in an analysis of its accident claims, says the Flamingo Road and Pines Boulevard intersection is crash-prone because as many as 200,000 cars pass through the area each day.
The information was gathered from various sources, including the U.S. Census Bureau, the National Highway Traffic Safety Administration, Texas A&M Transportation Institute, the Insurance Institute for Highway Safety, state transportation departments and city police departments.