The words “economical” and “insurance” really shouldn’t be used together, especially when you are searching for the best price on coverage for used cars. Because it’s not cheap, let’s start off by going over a few of the things that can significantly affect car insurance rates, and figure out some ideas to shave a little off the next policy you buy.
Deciphering which insurers offer the cheapest car insurance rates for used cars will require a bit more work in order to find the best price. Each insurer has a different process for determining rates in each state, so we will examine the most affordable car insurance companies in Florida.
Find the Best Cheap Insurance for Used Cars
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $977 |
| 2 | Electric | $1,694 |
| 3 | Amica | $1,764 |
| 4 | Progressive | $1,847 |
| 5 | Travelers | $1,888 |
| 6 | Mercury | $1,914 |
| 7 | Allied | $1,926 |
| 8 | Esurance | $2,020 |
| 9 | State Farm | $2,068 |
| 10 | GEICO | $2,086 |
| 11 | Auto-Owners | $2,149 |
| 12 | Allstate | $2,317 |
| 13 | 21st Century | $2,397 |
| 14 | Windhaven Insurance | $2,575 |
| 15 | MetLife | $2,870 |
| 16 | Safeco | $2,927 |
| 17 | Hanover | $3,024 |
| 18 | Liberty Mutual | $3,101 |
| 19 | United Automobile | $3,422 |
| 20 | Direct General | $4,022 |
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USAA offers some of the most affordable car insurance rates in Orlando at around $977 each year. Electric, Amica, Progressive, and Travelers also are some of the most economical Orlando, FL car insurance companies.
In this example, if you are a customer of Amica and switched to USAA, you may see a yearly savings of upwards of $787. Insureds with Progressive may save as much as $870 a year, and Travelers policyholders might reduce prices by as much as $911 a year.
Be aware that those policy prices are averages for all drivers and vehicles and do not factor in an exact zip code location for used cars. So the company that fits you best may not even be in the top 21 companies in the list above. That’s why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The type of vehicle to be insured is one of the primary factors in finding affordable coverage for used cars. Vehicles with reasonable performance levels, excellent safety ratings, or a low likelihood of liability claims will cost significantly less to insure than fast, unsafe models.
The next list ranks insurance costs for the most affordable vehicles to insure in Florida.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,202 |
| Ford Escape XLS 2WD | $1,210 |
| Chevrolet Impala LS | $1,394 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,422 |
| Chevrolet Malibu Hybrid | $1,428 |
| Toyota Tacoma Double Cab 4WD | $1,449 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,458 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,496 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,501 |
| Toyota Camry SE | $1,496 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,524 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,526 |
| Nissan Rogue S 2WD | $1,529 |
| Dodge Grand Caravan CV | $1,544 |
| Ford Focus SE 2-Dr Coupe | $1,603 |
| Ford Fusion SEL AWD 4-Dr Sedan | $1,626 |
| Toyota Camry Hybrid | $1,631 |
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Table data does not factor in the specific area where the vehicle is garaged which can impact rates considerably.
Looking at the rates, you can conclude that makes and models like the Honda CR-V, Ford Escape, Chevrolet Impala, and Chevrolet Silverado are most likely going to be the cheaper vehicles to insure for pre-owned vehicles.
One of the more important components that are used to help calculate the amount you pay each year for auto insurance is where you call home in Orlando. More populated areas tend to have higher rates, whereas areas that tend to be more rural get the luxury of paying less.
The illustration below shows the most expensive places in Florida for used cars to purchase a policy in. Orlando ranks #18 with an annual cost of $2,029 for the average policyholder, which is around $169 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Hialeah | $3,630 |
| 2 | Miami | $3,177 |
| 3 | Miami Gardens | $3,149 |
| 4 | Miami Beach | $3,043 |
| 5 | West Palm Beach | $2,705 |
| 6 | Tampa | $2,610 |
| 7 | Miramar | $2,603 |
| 8 | Fort Lauderdale | $2,550 |
| 9 | Pompano Beach | $2,543 |
| 10 | Hollywood | $2,526 |
| 11 | Davie | $2,523 |
| 12 | Coral Springs | $2,474 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,322 |
| 15 | Clearwater | $2,260 |
| 16 | St. Petersburg | $2,196 |
| 17 | Spring Hill | $2,102 |
| 18 | Orlando | $2,029 |
| 19 | Jacksonville | $1,960 |
| 20 | Port St. Lucie | $1,935 |
| Find Cheaper Insurance Go | ||
Rate quotes are estimated as the specific zip code location can alter auto insurance rates considerably.
Discount Orlando car insurance
Insurance companies that provide coverage for used cars may additionally offer rate discounts that may potentially lower prices by 30% or more if you meet certain criteria. A list of companies and some of their more popular discounts include:
- Farmers Insurance may offer discounts for electronic funds transfer, business and professional, pay in full, homeowner, good student, distant student, and alternative fuel.
- Esurance policyholders can earn discounts including multi-car, anti-lock brakes, good student, homeowner, emergency road assistance, and anti-theft.
- State Farm may include discounts for multiple autos, Drive Safe & Save, anti-theft, multiple policy, and student away at school.
- GEICO includes discounts for federal employee, military active duty, anti-theft, five-year accident-free, and daytime running lights.
- Allstate offers premium reductions for resident student, premier discount, new car, defensive driver, and senior citizen.
The chart below compares auto insurance rates with and without discounts applied to the premium. Data assumes a female driver, no violations or claims, Florida state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with multiple vehicle, anti-theft, defensive driving course, vehicle safety, claim-free, and passive restraint discounts applied. When drivers qualify for the discounts, the average savings per year on car insurance for used cars is 28% or $625.
Finding the highest-rated company can be challenging considering how many choices you have in Florida. The information displayed below may help you choose which car insurance providers to look at buying from. These ratings include companies with a national presence, so companies with more of a regional focus are not factored into the list.
Top 10 Major Auto Insurers in Orlando Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Safe drivers pay less for car insurance
The recommended way to enjoy the cheapest car insurance prices for pre-owned vehicles is to be a cautious driver and maintain a clean driving record. The illustration below demonstrates how citations and accident claims can affect insurance costs for each different age category. The data assumes a single male driver, full physical damage coverage, $500 deductibles, and no discounts are applied to the premium.
In the previous chart, the average cost of auto insurance in Florida per year with no accidents and a clean driving record is $2,660. Factor in one speeding ticket and the average cost hikes up to $3,000, an increase of $340 each year. Now get one accident along with the one speeding ticket and the 12-month cost of car insurance for used cars goes up to an average of $3,951. That’s an increase of $1,291, or $108 per month, just for not being a responsible driver!