You've seen the catchy commercials from car insurance companies like Progressive and State Farm claiming big savings. So drivers just need to choose the one with the most memorable commercial, right?
It's just not that simple, as there are a whole bunch of unknown elements such as when you were born, if you own a home, and your financial responsibility, that all impact the cost of coverage. We know insurance is not everyone's favorite topic, but in this article we will cover the best ways to avoid overpriced car insurance and educate you enough to have a good beginning to your quest for cheaper car insurance for teens.
Determining which company has the cheapest insurance rates for 17 year olds in Florida takes a bit more work in order to find coverage that fits your budget. Each company has a unique formula for setting prices, so we'll go over the most affordable insurance companies in Florida.
It's important to understand that Florida insurance rates are impacted by many factors that may substantially change the price you have to pay. Getting older, buying a home, or getting a driving violation may prompt premium changes that may make certain companies cheaper than others.
Find the Cheapest Auto Insurance for Teens
USAA may have some of the cheapest car insurance rates in Florida at around $948 per year. Amica, Electric, Progressive, and Travelers also are some of the lowest-priced Florida auto insurance companies.
In the rate table above, if you are insured with Progressive and switched to Amica, you could see an annual premium reduction of in the vicinity of $99. Customers with Travelers might save as much as $232 a year, and Mercury customers might realize rate reductions of up to $298 a year.
If you want to find out if you're overpaying, click here to start your free quote or click several companies below for low rates.
Understand that those policy rates are averaged for all types of insureds and vehicles and do not factor in a price increase for 17 year olds. So the company that can offer you the lowest price may not even be in the list above. That illustrates why you need to compare as many prices as possible using your own specific driver and vehicle information.
The vehicle needing coverage is one of the main factors when shopping for affordable insurance for 17 year olds. Vehicles with reasonable performance levels, advanced safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than adrenaline junky models. The information below showcases car insurance costs for a number of the most cost-effective automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$4,947|
|Ford Escape Limited 4WD||$5,321|
|Hyundai Elantra SE Touring Station Wagon||$5,331|
|Honda Odyssey LX||$5,494|
|Ford F-150 STX Super Cab 2WD||$5,503|
|Toyota Tacoma 4WD||$5,544|
|Ford Explorer XLT AWD||$5,550|
|Ford Focus S 4-Dr Sedan||$5,818|
|Jeep Grand Cherokee Laredo 4WD||$5,868|
|Chevrolet Malibu LS||$5,877|
|Toyota RAV4 2WD||$5,868|
|Toyota Camry LE||$5,875|
|Volkswagen Jetta S 4-Dr Sedan||$5,868|
|Ford Fusion S 4-Dr Sedan||$5,878|
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Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in garaging location in Florida which can revise auto insurance rates significantly.
Based upon these rates, we can conclude that cars like the Honda CR-V, Ford Escape, Hyundai Elantra, Toyota Prius, and Honda Odyssey are going to be some of the more affordable vehicles to insure for teen drivers. The cost of a car insurance policy will tend to be more expensive anyway just because there is more inherent risk for 17 year olds, but in general those specific models will most likely have the least expensive rates possible.
Safe drivers pay less for insurance
The ideal way to get low insurance premiums in Florida for teen drivers is to drive cautiously and avoid accidents and traffic citations. The example below illustrates how violations and at-fault fender-benders influence auto insurance rates for different age groups. The rate quotes are based on a married female driver, full coverage, $100 deductibles, and no policy discounts are applied.
The chart shows that the average cost of an auto insurance policy per year with a clean driving record and no accidents is $2,504. Get written up for two speeding tickets and the average cost surges to $3,574, an increase of $1,070 each year. Now add two accidents along with the two speeding tickets and the yearly cost of insurance for 17 year olds in Florida jumps again to an average of $7,352. That's an increase of $4,848, or $404 per month, just for not being a responsible driver!
Which insurance company is best in Florida?
Buying coverage from the right auto insurance company is hard considering how many different companies there are to choose from in Florida. The company information shown below could help you select which car insurance providers you want to consider when comparing rate quotes.
The ratings below include companies who write in the majority of U.S. states, so companies that have a smaller presence are not factored into this list. If you wish to compare rates from these and other top-rated companies, click this link.
Top 10 Major Auto Insurance Providers Overall in Florida
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Types of discounts on Florida car insurance rates
Insurance companies that sell policies for 17 year olds may also offer premium discounts that may potentially lower prices by as much as 35% or more if you are eligible for them. Popular insurance companies and the discounts they provide are:
- State Farm may have discounts that include anti-theft, safe vehicle, driver's education, Steer Clear safe driver discount, multiple policy, multiple autos, and good driver.
- GEICO offers discounts including membership and employees, military active duty, anti-lock brakes, multi-vehicle, and defensive driver.
- Liberty Mutual may offer discounts for newly married, safety features, exclusive group savings, new graduate, and new vehicle discount.
- The Hartford offers discounts for vehicle fuel type, bundle, driver training, anti-theft, and good student.
- MetLife includes discounts for multi-policy, defensive driver, claim-free, accident-free, good driver, good student
- Progressive policyholders can earn discounts including multi-vehicle, online quote discount, good student, homeowner, multi-policy, and online signing.
The illustration below compares insurance costs with and without some available policy discounts. The prices are based on a male driver, no violations or accidents, Florida state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with anti-theft, continuous coverage, vehicle safety, passive restraint, paid-in-full, and good student discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on insurance for 17 year olds is 28% or $843.
Here's why you should shop around
Florida insurance rates are determined by lots of factors that can increase the price you pay for coverage. Turning one year older, having a teen driver, or getting a reckless driving citation may cause policy rate changes that can make some companies cheaper than before. Additionally, insurance companies change their prices every year or even multiple times each year to ensure their profitability. Unexpectedly high claims can cause a rate increase, while profitable underwriting can produce cheaper Florida car insurance rates.
To help illustrate this point, the data below compares the cheapest car insurance in Florida for a 45-year-old female driver with no accidents or violations, and good financial standing. If we look at prices based on her current situation, USAA might offer the lowest car insurance rates in Florida at $986 each year. This is $1,462 less than the average rate paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are the remainder of the cheapest Florida auto insurance companies.
The chart below compares rates after we give the driver in the first example a chargeable accident, slightly worse credit, and a speeding citation. Because each company has their own guidelines to determine rates, comparing rates could now result in a different set of the cheapest companies as shown below.
USAA now has the lowest price on auto insurance in Florida with Mercury, Esurance, Auto-Owners, and State Farm now rounding out the top five. This example illustrates why Florida drivers need to do a thorough rate comparison when trying to find the most economical car insurance quotes for 17 year olds.
Auto insurance prices consist of many factors and can change without notice, so the cheapest option two years ago may now cost much more than other companies.