The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, specifically when you are looking for the cheapest auto insurance for drivers requiring a SR22. To help control this cost, let’s teach you some situations that can significantly affect insurance rates, and find a way to reduce the cost of your next policy.
The vehicle driven is a large factor when comparing quotes for the cheapest coverage for drivers requiring a SR22. Vehicles with economical engines, advanced safety features, or a low likelihood of liability claims will cost much less to insure than higher performance models.
The next table presents auto insurance prices for a handful of the cheapest vehicles to insure in Florida.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$4,185|
|Hyundai Elantra SE Touring Station Wagon||$4,254|
|Honda CR-V LX 2WD||$4,283|
|Honda Accord EX-L 4-Dr Sedan||$4,460|
|Ford Explorer Eddie Bauer 2WD||$4,730|
|Chevrolet Impala LT||$4,733|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$4,778|
|Honda Civic LX 4-Dr Sedan||$4,900|
|Honda Odyssey EX-L||$4,946|
|Toyota Camry XLE||$4,953|
|Chevrolet Malibu Hybrid||$4,955|
|Jeep Grand Cherokee Laredo 2WD||$4,963|
|Dodge Grand Caravan Hero||$4,955|
|Chevrolet Silverado LTZ Crew Cab 4WD||$4,991|
|Volkswagen Jetta SE 4-Dr Sedan||$4,998|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$4,991|
|Compare Rates Now Go|
Prices above based on single female driver age 40, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Estimates do not factor in specific location information which can change insurance rates significantly.
Looking at the data, you can assume that makes and models like the Ford Escape, Hyundai Elantra, and Honda CR-V are most likely going to be a few of the cheapest vehicles to insure for high risk drivers. The price for an auto insurance policy will be more expensive just due to the fact that there is more liability risk for drivers requiring a SR22, but generally speaking those models will have the best rates available.
For high risk drivers, one of the big things that are used to help calculate car insurance rates is where you normally keep your vehicle. Cities with larger populations tend to pay more, whereas areas with lower crime rates and fewer weather claims get the luxury of paying less.
The information below shows the highest-priced areas in Florida for drivers requiring a SR22 to purchase auto insurance in. Orlando is listed at #18 having an annual price of $2,069 for the average policy, which is around $172 monthly.
|Rank||City||Premium Per Year|
|5||West Palm Beach||$2,705|
|20||Port St. Lucie||$1,975|
|Quote Best Rates Go|
Prices are approximated as the garaging address in Orlando can change coverage prices significantly.
Picking the right company can be challenging considering how many different insurance companies sell coverage in Florida. The company ratings below could help you choose which auto insurance companies to look at comparing prices from.
These ratings are only made up of companies that write coverage in many states, so companies with more of a regional focus are not factored into these rankings. To view rates from these and other competitive companies, follow this link.
Top 10 Large Auto Insurance Providers in Orlando Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Large Auto Insurance Providers in Orlando Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
The illustration below shows how choosing a deductible can change insurance prices when trying to find cheap insurance for drivers requiring a SR22. The data assumes a married male driver, full physical damage coverage, and no additional discounts are factored in.
As shown above, a 30-year-old driver could pocket $320 a year by increasing from a $100 deductible up to a $500 deductible, or save $486 by choosing a $1,000 deductible. Younger drivers, like the 20-year-old category, could roll back prices $966 or more by selecting a higher deductible.
When raising deductibles, it will be required to have additional funds squirreled away to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Why you should be shopping around
Orlando car insurance rates are impacted by many factors that will increase or decrease the cost of your policy. Simply improving your credit, adding a teenager to your policy, or getting a DUI may generate price changes resulting in some companies being more affordable than competitors. And not only may your rating factors change, but insurance companies file new Florida auto insurance rates multiple times each year to adjust for unexpected claims or profits. Higher than normal claim frequency or severity can result in higher priced premiums, while a lower level of claims can cause more affordable Orlando car insurance rates.
For example, the graph below shows a variety of companies that have the cheapest car insurance in Orlando, FL for a 30-year-old male driver with a good driving record, no prior claims, and good credit. Based on his current rating profile, USAA quotes the cheapest car insurance rates in Orlando at $1,180 annually. This is $1,268 less than the average price paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are the rest of the cheapest Orlando, FL auto insurance companies.
In this example, we will give the driver from the first example a claim, a lower credit rating, and a blemish on his driving record. Due to the fact that every auto insurer has a different process for filing rates in each state, comparing rates could result in a completely different list of the cheapest car insurance companies in Orlando as shown below.
USAA now has the cheapest car insurance in Orlando, FL with Allied, Esurance, State Farm, and GEICO now being in the top five. This example illustrates why it is crucial to do a thorough rate comparison to find the most affordable car insurance rates for drivers requiring a SR22. Insurance prices are made up of many risk factors and change substantially, so the best price three years ago may now be wasting a lot of money.