Car insurance in Miami, FL: Cheapest insurance and average rates

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Car insurance in Miami costs $3,345 per year for full coverage – $279 monthly. Geico offers the cheapest car insurance policies at an average of $200 monthly.

Miami-Dade County is home to around 2.6 million people. When you factor in the greater area, which includes Fort Lauderdale, around 6.1 million people call sunny South Florida home. 

Learn about the cheapest car insurance companies in Miami, how much car insurance you need in Miami and how its insurance rates compare to other large U.S. cities.

How to find the best car insurance in Miami

Shopping around can help you find the best car insurance in Miami. When you take time to compare at least three quotes, you can land on the most affordable option for your unique situation. But don’t forget to ask if you qualify for any discounts before finalizing your policy. 

Cheapest car insurance company in Miami

Geico offers the cheapest insurance coverage in Miami, Florida, with an annual average rate of $2,402 for full coverage. The next cheapest company is State Farm at $3,094 per year. 

See other cheap car insurance rates in Miami in the table below.

Average annual rates from insurers in Miami, Florida

How much is car insurance in Miami per month?

Car insurance in Miami costs $104 per month for a state minimum policy and $279 per month for a full coverage car insurance policy, on average, according to 2024 data. See monthly rates from Florida insurers in the table below.

Monthly rates for car insurance in Miami, Florida

How do rates in Miami compare to other large cities in the U.S.?

Car insurance is more expensive in Miami than in larger cities in the state. Compare Miami’s monthly average rate of $279 for full coverage to Los Angeles’ $262 or a rate of $217 in New York, New York.

James Brau, professor of finance at Brigham Young University, says that the more risk the insurance company must bear, the higher the premium they must charge to stay in business and make a profit. 

“Large cities tend to present more risk to the insurance companies than rural areas. Large cities have more people, more cars and higher chances of getting in wrecks or having other damage done to vehicles,” Brau says. “As such, insurance firms must charge higher premiums in cities. Cities that are relatively more dangerous, in turn, must charge higher premiums than cities that are not as risky. Insurance companies study damage losses per metropolitan area and assign premiums depending on the number of wrecks in an area.”

See how much you can expect to pay for car insurance in several major U.S. cities in the table below.

Monthly full-coverage car insurance costs in major U.S. metropolitan areas

Here’s what you need to know when driving in Miami

Miami drivers spend an average of 32 minutes commuting to work each way. 

Here are a few tips for drivers in Miami:

• Use a maps app to get directions even if you know where you’re going – the map can reroute you to avoid traffic.
• Rush hour runs from 7:30-9 a.m. and 4-6 p.m. If possible, avoid the roads during these times. 
• If possible, carpool with someone to hop in the fast lane. Another option is to pay for access to the fast lane via a SunPass or accepted toll pass. 

And there are a few city restrictions in Miami. Miscellaneous driving restrictions in the city of Miami, Florida:

• Many of the roads available in Miami require you to pay tolls, which you can pay by plate or purchase a SunPass. 
• The paid express lanes often don’t allow you to exit for several miles. Be aware of where you need to get off before hopping in the express lane. 

How much car insurance do I need in Miami?

In Miami, the car insurance requirements follow the state of Florida’s guidelines. Here is a look at the required minimum coverage amounts:

• $10,00 in personal injury protection (PIP)
• $10,000 in property damage coverage per accident

Remember, state minimums are merely that – the minimum insurance you must buy, according to state law. Most drivers need significantly higher coverage limits and additional types of coverage.

Average cost of car insurance in Miami

The average annual cost of full coverage car insurance in Miami is $3,345 – $651 a year higher than the Florida statewide average of $2,694. That’s quite a bit higher than the nationwide average of $1,895.

Annual average rates in Miami for state minimum coverage and full coverage

How much does car insurance in Miami cost with violations?

A history of moving violations can push your car insurance costs higher. That’s especially true if you commit a serious violation, like a DUI. But accidents and speeding tickets also push your costs higher. 

For example, Miami drivers see their rates increase by an average of 48% after an at-fault accident. If you are caught speeding, that ticket could push your car insurance rates up by an average of 33%. DUIs also lead to higher costs, with an average rate increase of 58%. Bad credit will increase your rates by 125%, on average.

See rate increases in Miami in the table below, by violation.

Cheapest car insurance in Miami by age

Car insurance for teens in Miami can get expensive – the annual rate for an 18-year-old is $9,132 per year for a full coverage policy. Plan for rates to start to head down at age 25 and back up in your late 60s. See more rates by age in the table below.

Annual rates for state minimum and full coverage car insurance in Miami, by age

Compare auto insurance rates in Miami by ZIP code 

Where you live also plays a role in car insurance costs. In Miami, the cheapest ZIP codes for car insurance are 33195, 33198 and 33133. The most expensive are 33126, 33135 and 33125.

See the tables below for the cheapest and most expensive ZIP codes for car insurance in Miami, Florida. 

Cheapest annual car insurance rates in Miami, by ZIP code 

Most expensive annual car insurance rates in Miami, by ZIP code 

Our recommendations: Car insurance for drivers in Miami

Geico tends to offer Miami drivers the most affordable car insurance premiums. However, shopping around can help you lock in the most affordable rates for your unique situation. 

As you explore your options, don’t forget to review the policy details to confirm you get the coverage you need. Price is an important factor. But it shouldn’t be the only factor you consider. 

Many drivers get the most value from a full coverage insurance policy with liability limits of 100/300/100. But as you accumulate wealth, consider choosing higher liability limits. Robust coverage can give you the peace of mind you need as you navigate Miami roads. 

What our expert says

Q. Why do insurance rates vary from city to city?

Dr. James BrauJoel C. Peterson Professor of Finance Brigham Young University

“Large cities tend to present more risk to the insurance companies than rural areas. Large cities have more people, more cars and higher chances of getting in wrecks or having other damage done to vehicles. As such, insurance firms must charge higher premiums in cities. Cities that are relatively more dangerous, in turn, must charge higher premiums than cities that are not as risky. Insurance companies study damage losses per metropolitan area and assign premiums depending on the number of wrecks in an area.”

Resources & Methodology

Methodology

In 2024, Insure.com commissioned Quadrant Information Services to pull rates for a 40-year-old who has a 12-mile commute and drives a 2023 Honda Accord LX 10k miles annually. The hypothetical driver has full coverage, carrying policy limits of 100/300/100 with $500 deductibles for comprehensive and collision coverages. We analyzed 51,088,003 insurance quotes from 167 companies across 34,588 ZIP codes in every state and Washington, D.C.

Sarah Sharkey

Contributing Researcher

 

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Sarah Sharkey is a personal finance writer with a master’s degree in management from the Hough School of Business at the University of Florida. She enjoys helping readers find money solutions that work. She has written for numerous personal-finance publications including Money Under 30 and The College Investor.