You have most likely watched the ads from companies like Liberty Mutual and Allstate that promise the cheapest rates, so you should just choose the one with the flashiest ad, right?
That is not the case, however, as there are a lot of unknown aspects such as how experienced of a driver you are, whether or not you have had gaps between policies, and if you own your own home, that all have an effect on the price of a policy. The information below will cover the best ways to find cheap car insurance and also should give you a jump start in finding the best auto insurance in Florida.
The type of vehicle needing coverage is one of the largest considerations when comparing low-priced insurance for homeowners. Vehicles with limited top-end speed, an excellent safety record, or a low likelihood of liability claims will cost much less to insure than adrenaline junky models.
The table below features auto insurance prices for a number of the most cost-effective vehicles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Jeep Wrangler Sport 4WD 2-Dr | $1,198 |
| Ford Escape Limited 4WD | $1,257 |
| Toyota Prius | $1,281 |
| Honda CR-V EX-L 4WD | $1,349 |
| GMC Sierra SLE Regular Cab 2WD | $1,369 |
| Nissan Altima 2.5 4-Dr Sedan | $1,378 |
| Chevrolet Malibu LT | $1,393 |
| Toyota Tacoma Double Cab 4WD | $1,401 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,413 |
| Chevrolet Impala LTZ | $1,440 |
| Toyota Camry XLE | $1,447 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,466 |
| Ford F-150 XL Regular Cab 4WD | $1,483 |
| Ford Explorer XLT 4WD | $1,493 |
| GMC Sierra 3500HD SLT Extended Cab 2WD | $1,491 |
| Ford Focus SES 2-Dr Coupe | $1,537 |
| Ford Edge SEL 2WD | $1,547 |
| Start Your Quote Go | |
Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Estimates do not factor in specific location information which can impact premium rates noticeably.
Looking at the rates, you can see that makes and models like the Jeep Wrangler, Ford Escape, and Toyota Prius are likely to be some of the most economical vehicles to insure for people who own their homes.
One of the more important components that are used to help calculate the amount you pay each year for auto insurance is where you keep your car in Orlando. Cities with more crime and/or more people tend to have more expensive car insurance rates, whereas areas that tend to be more rural benefit from lower rates.
The table below sorts the most expensive places in Florida for homeowners to purchase a policy in. Orlando is ranked #19 with a yearly cost of $2,008 for car insurance, which is approximately $167 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Hialeah | $3,523 |
| 2 | Miami Gardens | $3,277 |
| 3 | Miami | $3,145 |
| 4 | Miami Beach | $2,923 |
| 5 | West Palm Beach | $2,625 |
| 6 | Tampa | $2,610 |
| 7 | Miramar | $2,603 |
| 8 | Pompano Beach | $2,595 |
| 9 | Coral Springs | $2,574 |
| 10 | Davie | $2,548 |
| 11 | Hollywood | $2,526 |
| 12 | Pembroke Pines | $2,481 |
| 13 | Fort Lauderdale | $2,475 |
| 14 | Brandon | $2,298 |
| 15 | Clearwater | $2,238 |
| 16 | St. Petersburg | $2,196 |
| 17 | Spring Hill | $2,102 |
| 18 | Jacksonville | $2,040 |
| 19 | Orlando | $2,008 |
| 20 | Port St. Lucie | $1,975 |
| 21 | Cape Coral | $1,898 |
| 22 | Lakeland | $1,883 |
| 23 | Tallahassee | $1,784 |
| 24 | Palm Bay | $1,750 |
| 25 | Gainesville | $1,696 |
| Find the Best Rates Go | ||
Information shown are estimated as the garaging address in Orlando can change premiums significantly.
Buying affordable auto insurance is not the easiest thing to accomplish, and deciding which company has the cheapest insurance rates for homeowners takes even more work. Every car insurance company has a proprietary formula to set their prices, so first we will examine the most budget-friendly insurance companies in Orlando, FL.
It’s important that readers know that Florida insurance rates are impacted by many things that can increase the policy price. That is why it is important to shop around with many companies when trying to get the most budget-friendly insurance quotes for homeowners. Rates can be altered by many different factors and can decrease or increase without notice, so the best price the last time you shopped around may now be quite expensive.
Cheapest Insurance Rates for Homeowners
USAA quotes some of the lowest car insurance rates in Orlando at around $977 per year. Electric, Amica, Progressive, and Travelers would also be considered some of the cheapest Orlando, FL car insurance companies.
In this example, if you currently buy coverage from Progressive and switched to Electric, you could see an annual savings of in the vicinity of $135. Customers with Travelers may save as much as $232 a year, and Mercury insureds might lower prices by up to $239 a year.
These premium estimates are averaged across all ages of drivers and types of vehicles and and are not figured with a specific vehicle garaging location for homeowners. So the insurer that can offer the best rates for your situation may not even be in the top 21 companies shown above. That helps illustrate why you need to get auto insurance quotes using your own individual information.
Discounts on Orlando car insurance
Car insurance companies that offer cheap quotes for homeowners may also provide price discounts that could lower prices by as much as 35% or more if you qualify. A list of insurance companies and the discounts they provide can be found below.
- State Farm offers premium reductions for Steer Clear safe driver discount, accident-free, anti-theft, driver’s education, good driver, and passive restraint.
- GEICO includes discounts for defensive driver, multi-policy, military active duty, daytime running lights, air bags, and federal employee.
- Allstate offers discounts including good payer, anti-lock brakes, early signing, premier plus, senior citizen, and EZ pay plan discount.
- SAFECO may include discounts for anti-theft, multi-car, safe driver, bundle discounts, teen safety rewards, and teen safe driver.
- Farm Bureau policyholders can earn discounts including driver training, renewal discount, good student, 55 and retired, multi-policy, and multi-vehicle.
- Progressive offers discounts for multi-policy, online signing, continuous coverage, good student, online quote discount, and homeowner.
- AAA has savings for good driver, education and occupation, multi-car, pay-in-full, anti-theft, multi-policy, and AAA membership discount.
The example below illustrates the comparison of car insurance costs with and without policy discounts. The prices are based on a female driver, no tickets, no at-fault accidents, Florida state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with anti-theft, defensive driving course, vehicle safety, multiple vehicle, homeowner, and multiple policy discounts applied. When these discounts are applied, the average savings per year on insurance for homeowners is 28% or $698.
The example below demonstrates how choosing different deductibles can raise or lower yearly insurance costs when getting quotes for cheap insurance for homeowners. The rate quotes are based on a married female driver, full coverage, and no other discounts are factored in.
As shown above, a 40-year-old driver could cut expenses by $384 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $578 by using a $1,000 deductible. Even younger drivers, such as the Age 20 example, could roll back prices up to $952 every year by choosing larger deductibles on their policy. If you make the decision to raise deductibles, it will be required to have plenty of savings on hand to enable you to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
How to find budget-friendly car insurance for homeowners
The list below shows a few penny-pinching ideas that can help drivers locate cheap car insurance.
- Increase your policy deductibles
- Safer vehicles generally have cheaper insurance rates
- Do not pay for comprehensive and collision coverage on older vehicles
- Multi-policy discounts save money
- If possible, do not file small claims
- Better credit rating means better rates
- Compare price quotes at least once a year
That last tip is extraordinarily important, as we hit on in this piece. Prices charged by car insurance companies in Orlando can be adjusted at any time, so drivers shouldn’t be resistant to buy from a new company if a lower price can be found. Having a favorite company is great, but it’s not a great idea if that stubbornness costs you hundreds of dollars a year. Take a few minutes and compare rates and find cheaper auto insurance for homeowners.