One of the more important factors that are looked at to determine insurance cost is your address in Orlando. More densely populated places tend to have higher rates, whereas more rural areas have the benefit of cheaper auto insurance prices.
The next table sorts the most costly cities in Florida for a school permit to buy car insurance in. Orlando ranks #18 with an annual cost of $2,008 on average, which is around $167 each month.
|8||West Palm Beach||$2,599|
|20||Port St. Lucie||$1,935|
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Rate information is comparative as specific Orlando zip code can modify coverage rates significantly.
The vehicle needing coverage is probably the most important factor when comparing the lowest-priced insurance for a school permit. Vehicles with lots of horsepower, poor crash test ratings, or a track record of large liability claims will cost more to insure than safer, lower-performance models.
The next table shows insurance costs for the more affordable automobiles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$4,922|
|Honda Accord EX 4-Dr Sedan||$4,931|
|Honda CR-V EX 4WD||$4,974|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$5,467|
|Ford Explorer XLT 4WD||$5,519|
|Toyota Tacoma 2WD||$5,788|
|Dodge Grand Caravan Hero||$5,841|
|Volkswagen Jetta S 4-Dr Sedan||$5,848|
|Chevrolet Impala LT||$5,841|
|GMC Sierra SLE Regular Cab 2WD||$5,850|
|Toyota RAV4 Sport 2WD||$5,841|
|Ford F-150 Lariat Crew Cab 2WD||$5,893|
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Prices above based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in the specific area where the vehicle is garaged which can impact price quotes substantially.
Based upon these rates, we can conclude that models like the Ford Escape, Honda Accord, Honda CR-V, and Toyota Prius should be some of the cheapest vehicles to insure for a learners permit. Car insurance rates will tend to be more expensive just because there is more inherent risk for a school permit, but generally speaking those specific models will have the lowest prices possible.
Finding reliable, budget car insurance is not the easiest thing to do, and deciding which companies quote the most affordable auto insurance rates for a school permit requires even more shopping around. Each auto insurer has their own guidelines for setting rates, so we need to take a look at the auto insurance companies with the overall cheapest rates in Florida.
It’s a good idea to know that Florida auto insurance rates are based on many factors that can increase the cost of a policy. This is why it is important to shop around with many companies when trying to get cheap insurance quotes for a school permit. Rates consist of many risk factors and can decrease or increase without notice, so the best price a year ago may now cost much more than other companies.
Best Insurance Companies for Students
USAA has some of the lowest car insurance rates in Orlando at around $977 each year. Electric, Amica, Progressive, and Travelers also qualify as some of the best Orlando, FL insurance companies.
As shown above, if you have coverage with Progressive and switched to Electric, you may see savings of about $29. Drivers with Travelers may save as much as $199 a year, and Mercury insureds might see rate reductions of $227 a year.
Remember that these premiums are averaged for all ages of drivers and types of vehicles and and are not figured with an exact zip code location for a school permit. So the car insurance company that is best suited for you may not even be in the list above. That helps illustrate why you need to get rate quotes using your own specific driver information and vehicle.
Drive responsibly or pay higher rates
The best way to receive the most affordable auto insurance prices in Florida for a learners permit is to be a careful driver and avoid traffic citations and accidents. The chart below demonstrates how traffic citations and accidents can affect auto insurance rates for different insured age categories. Data assumes a single female driver, full coverage, $250 deductibles, and no policy discounts are applied.
The data above shows the average cost of an auto insurance policy per year with no accidents or violations is $2,077. Receive one speeding ticket and the average cost jumps to $2,354, an increase of $277 each year. Then throw in two accidents along with the one speeding ticket and the 12-month cost of auto insurance for a school permit jumps again to an average of $4,747. That’s an increase of $2,670, or $223 per month, just for not driving carefully!
Liability rates compared to full coverage
Finding the cheapest auto insurance is the goal of the majority of vehicle owners, and one easy way to find cheaper insurance for a school permit is to not pay for full coverage. The chart below shows the comparison of car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Florida. The rates are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are not married, and no policy discounts are applied.
If we average all the age groups together, full coverage costs an additional $2,922 per year over having just liability coverage. That is a significant amount which raises the question if full coverage is worth the money. There isn’t a steadfast formula to exclude physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
There are some situations where dropping physical damage coverage is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
How to find budget-friendly auto insurance for a school permit
The list below shows some of the better money-saving ideas that can help you buy low-cost coverage.
- Better credit scores save money
- Raise your deductibles
- Buy a car with high safety ratings
- Avoid accidents
- Drop full coverage on older vehicles
- Ensure your driving record is clean
- Compare rates regularly and switch companies to save money
That last idea is notably important, as we noted in this piece. Auto insurance rates in Orlando can change considerably based on profitability, so don’t be hesitant to change insurance companies if a lower-cost policy is available. Many drivers tend to have loyalty to a certain company, but it’s not a great idea if that devotion results in you overpaying a lot of money every month. In just a couple of minutes you could shop around to find cheaper insurance for a school permit.