The words “low-cost” and “insurance” probably shouldn’t be used together, especially when you are shopping around for the best price on coverage for inexperienced drivers. In an attempt to save some money, let’s start off by going over some situations that determine auto insurance prices, and come up with some ways to slash the price of the next policy you buy.
One of the more important things that aid in calculating auto insurance rates is where you live in Orlando. Areas with a lot of weather claims or more people tend to have more expensive auto insurance rates, whereas more rural areas can boast about having cheaper rates.
The information below sorts the most expensive places in Florida for inexperienced drivers to purchase a policy in. Orlando is ranked #18 with an annual cost of $2,029 for the average insurance policy, which is around $169 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Hialeah | $3,595 |
| 2 | Miami Gardens | $3,277 |
| 3 | Miami | $3,241 |
| 4 | Miami Beach | $2,953 |
| 5 | Miramar | $2,709 |
| 6 | West Palm Beach | $2,705 |
| 7 | Hollywood | $2,604 |
| 8 | Pompano Beach | $2,543 |
| 9 | Tampa | $2,532 |
| 10 | Coral Springs | $2,499 |
| 11 | Fort Lauderdale | $2,475 |
| 12 | Davie | $2,473 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,322 |
| 15 | Clearwater | $2,238 |
| 16 | St. Petersburg | $2,219 |
| 17 | Spring Hill | $2,123 |
| 18 | Orlando | $2,029 |
| 19 | Port St. Lucie | $1,994 |
| 20 | Jacksonville | $1,960 |
| 21 | Cape Coral | $1,860 |
| 22 | Lakeland | $1,845 |
| 23 | Tallahassee | $1,801 |
| 24 | Palm Bay | $1,733 |
| 25 | Gainesville | $1,630 |
| Compare Prices Now Go | ||
Rate information is estimated as the vehicle garaging location can revise insurance rates considerably.
The type of vehicle that is being insured is a significant factor that determines whether or not you can buy the cheapest insurance for inexperienced drivers. Vehicles with lots of horsepower, poor safety features, or a history of substantial liability claims will cost significantly more to insure than safer, lower-performance models. The information below shows car insurance prices for the most affordable vehicles to insure in Florida.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,147 |
| Toyota Prius | $1,248 |
| Honda CR-V EX-L 4WD | $1,257 |
| Hyundai Elantra GLS Touring Station Wagon | $1,269 |
| Chevrolet Impala LS | $1,308 |
| Chevrolet Equinox LT 2WD | $1,334 |
| Ford Fusion S 4-Dr Sedan | $1,340 |
| Honda Odyssey LX | $1,348 |
| Dodge Grand Caravan Crew | $1,360 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,370 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,406 |
| Toyota Corolla LE | $1,414 |
| Ford Edge Sport 2WD | $1,406 |
| Toyota RAV4 Limited 4WD | $1,456 |
| Toyota Tacoma 2WD | $1,468 |
| Chevrolet Malibu LT | $1,484 |
| Toyota Camry LE | $1,501 |
| Start Your Quote Go | |
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Premium amounts do not factor in specific zip code location which can impact coverage prices considerably.
Based upon these rates, you can see that models like the Ford Escape, Toyota Prius, and Honda CR-V will be some of the most budget-friendly vehicles to insure for new drivers.
Florida auto insurance companies
Choosing a high-quality insurer can be a challenge considering how many choices drivers have in Orlando. The ranking data displayed below can help you choose which car insurance companies to look at when trying find the best insurance for inexperienced drivers.
These rankings are only made up of companies that insure vehicles nationwide, so smaller companies that only insure vehicles in Florida are not taken into consideration for these rankings. If you wish to compare rates from these and other competitive companies, follow this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Cost comparison with and without full coverage
Buying cheaper auto insurance is the goal of the majority of vehicle owners, and one of the fastest ways to pay less for insurance for inexperienced drivers is to only buy liability insurance. The information below shows the comparison of insurance costs with and without physical damage coverage. The premium estimates are based on a clean driving record, no claims, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
If the expense is averaged for all age categories, full coverage costs an additional $2,619 per year over and above liability only. That is a large expense which might make you wonder if paying for full coverage is a waste of money. There is no definitive formula for dropping physical damage coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s book value is $9,500 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $8,500 after the policy deductible has been paid. If you are currently paying more than $850 annually for physical damage coverage, then you might consider buying liability only.
There are some cases where buying only liability insurance is not a good plan. If you still owe money on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Low rates can quickly become overpriced
Florida auto insurance rates are influenced by many factors that will increase or decrease the price you pay for coverage. Simply improving your credit, marrying your spouse, or having an at-fault accident can produce rate changes that can cause some rates to be cheaper than competitors.
Not only may your situation change, but auto insurance companies change prices every year in order to maintain liquidity for claims. A period of higher than normal claims may result in additional price hikes, while lower claims may produce cheaper Orlando car insurance rates.
For instance, the data below shows a variety of companies that have the cheapest car insurance in Orlando, FL for a 30-year-old male driver with no accidents or violations, and a high credit rating. When comparing rates based on his personal risk profile, USAA might quote the most affordable car insurance rates in Orlando at $1,179 each year. This is $1,269 less than the average policy premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers are also on the list of the cheapest Orlando, FL auto insurance companies.
Now we will pretend the driver in the first chart a claim surcharge, less-than-perfect credit, and a speeding ticket. Since each company has their own unique process to set policy rates, comparing quotes could now result in a significantly different list of the cheapest car insurance companies in Orlando as shown below.
USAA now has the best car insurance rate in Orlando with Allied, Esurance, GEICO, and Auto-Owners now rounding out the top five. This example illustrates why it is critical to spend some time comparing rates when trying to find cheap insurance rates for inexperienced drivers.
Insurance prices are made up of many factors and change frequently, so the most affordable company six months ago may now be quite expensive.
How to find cheaper insurance for inexperienced drivers
The list below summarizes some thrifty solutions that can help Orlando drivers buy more affordable car insurance.
- Safer vehicles cost less to insure
- Having too many claims will increase rates substantially
- If your vehicles are older, consider dropping full coverage
- Buying your home and auto policies from the same company can earn a discount
- Raise your deductibles
- Higher credit scores can equal lower rates
- Compare rate quotes frequently
The final tip is very valuable, as was emphasized in this piece. Prices charged by car insurance companies fluctuate constantly, so drivers shouldn’t be reluctant to switch carriers if you find a better deal.
Loyalty to a specific company is fine, but it’s not a great idea if that devotion results in you overpaying a fortune every year. Take a couple minutes and compare prices to find cheaper auto insurance for inexperienced drivers in Orlando.
If you would rather get help from a professional when buying car insurance for new drivers, the insurance agencies below can help you decide which coverages and limits you need.
To find an Orlando insurance agent close to where you live, click the button at the bottom.
- Leigh DelVesco – State Farm Insurance Agent
3806 Edgewater Dr – Orlando, FL 32804 – (407) 290-8544 - Bill Bryan – State Farm Insurance Agent
5470 Central Florida Pkwy – Orlando, FL 32821 – (407) 239-4777 - Allstate Insurance: Luis Diaz
1634 Hillcrest St – Orlando, FL 32803 – (407) 823-8232