The type of vehicle driven is one of the main factors that determines if you can find the best insurance for drivers with good credit. Vehicles with lots of horsepower, poor safety ratings, or a history of substantial liability claims will cost substantially more to insure than safer, lower-performance models. The data below outlines insurance prices for a selection of the most budget-friendly automobiles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford F-150 XL Regular Cab 2WD | $1,272 |
| Jeep Wrangler Sahara 4WD 2-Dr | $1,375 |
| Ford Escape XLS 2WD | $1,405 |
| Jeep Grand Cherokee Laredo 4WD | $1,451 |
| Toyota Camry LE | $1,456 |
| Dodge Grand Caravan Crew | $1,478 |
| Toyota Corolla XLE | $1,526 |
| Honda CR-V EX 4WD | $1,539 |
| Toyota Prius | $1,554 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,560 |
| Dodge Ram Crew Cab ST 4WD | $1,584 |
| Hyundai Elantra SE Touring Station Wagon | $1,634 |
| Chevrolet Silverado 2500HD LTZ Crew Cab Diesel 4WD | $1,657 |
| Honda Accord EX-L 2-Dr Coupe | $1,659 |
| Toyota Camry Hybrid | $1,665 |
| Hyundai Sonata Limited 4-Dr Sedan | $1,659 |
| Chevrolet Impala LT | $1,662 |
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Table data represents 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, safe-driver, claim-free, multi-policy, and homeowner. Price estimates do not factor in specific location information which can alter insurance rates greatly.
Looking at the data, you can presume that vehicles like the Ford F-150, Jeep Wrangler, Ford Escape, Jeep Grand Cherokee, and Toyota Camry should be some of the most economical vehicles to insure for financially responsible drivers.
For financially responsible drivers, one of the more important considerations that determine insurance cost is where you normally keep your vehicle in Orlando. Cities with larger populations or higher claim trends likely pay more, whereas less populated areas benefit from having to pay less for coverage.
The illustration below rates the priciest cities in Florida for drivers with good credit in which to buy car insurance. Orlando is ranked #18 with an annual cost of $2,090 for the average policyholder, which is approximately $174 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Hialeah | $3,523 |
| 2 | Miami | $3,177 |
| 3 | Miami Gardens | $3,149 |
| 4 | Miami Beach | $2,923 |
| 5 | Tampa | $2,636 |
| 6 | West Palm Beach | $2,625 |
| 7 | Miramar | $2,603 |
| 8 | Fort Lauderdale | $2,576 |
| 9 | Coral Springs | $2,549 |
| 10 | Davie | $2,548 |
| 11 | Hollywood | $2,526 |
| 12 | Pompano Beach | $2,518 |
| 13 | Pembroke Pines | $2,481 |
| 14 | Brandon | $2,392 |
| 15 | St. Petersburg | $2,286 |
| 16 | Clearwater | $2,194 |
| 17 | Spring Hill | $2,123 |
| 18 | Orlando | $2,090 |
| 19 | Jacksonville | $2,040 |
| 20 | Port St. Lucie | $1,916 |
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Annual rates are estimated as specific Orlando zip code can modify insurance rates noticeably.
Comparing rates for affordable insurance is not the easiest thing to do, and deciding which companies have the cheapest auto insurance rates for drivers with good credit requires even more work.
Every car insurance company uses a little different formula to set premium rates, so we’ll take a look at the auto insurance companies with the overall cheapest rates in Florida. It’s important that you understand Orlando auto insurance rates are determined by lots of factors which can substantially change the cost of coverage. This price variability is why it is so important to compare as many rates as possible when trying to find cheap insurance rates for drivers with good credit. Rates are influenced by many things and can change substantially, so the best company the last time you compared rates may now be costing you a lot of money.
Best Car Insurance Prices for High Credit
USAA generally has some of the most affordable car insurance rates in Orlando at around $977 a year. Electric, Amica, Progressive, and Allied also make the cut as some of the best Orlando, FL auto insurance companies.
In the above example, if you currently have coverage with Electric and switched to USAA, you could realize annual savings of about $769. Insureds with Amica might save as much as $769 a year, and Progressive insureds might reduce rates by $852 a year.
These premium estimates are averaged across all types of insureds and vehicles and do not factor in a specific location for drivers with good credit. So the auto insurance company that has the lowest price for you may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
Types of discounts on Orlando car insurance
Insurance providers that provide policies for drivers with good credit could also offer policy discounts that can reduce rates by 35% or more if you meet specific criteria. Companies and a partial list of their discounts are shown below.
- Farm Bureau may offer discounts for driver training, safe driver, multi-vehicle, good student, and youthful driver.
- State Farm may include discounts for Steer Clear safe driver discount, defensive driving training, anti-theft, multiple autos, safe vehicle, and student away at school.
- Progressive offers premium reductions for multi-policy, continuous coverage, online quote discount, online signing, multi-vehicle, and good student.
- Allstate offers discounts including farm vehicle, premier plus, anti-theft, economy car, 55 and retired, resident student, and senior citizen.
- Nationwide may have discounts that include defensive driving, anti-theft, business or organization, family plan, accident-free, good student, and easy pay.
- MetLife includes discounts for good student, good driver, multi-policy, defensive driver, and claim-free.
The diagram below illustrates the comparison of insurance rates with and without discounts applied. The premiums are based on a male driver, no claims or driving citations, Florida state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with multiple vehicle, safe-driver, homeowner, marriage, anti-theft, and passive restraint discounts applied. When discounts are applied, theaverage yearly reduction on auto insurance for drivers with good credit is 28% or $594.
Difference between full coverage and liability only rates
Reducing the cost of auto insurance is important to the majority of people, and an easy way to save on the cost of insurance for drivers with good credit is to not buy comprehensive and collision coverage. The example below visualizes the comparison of auto insurance rates when comparing full coverage to liability only. The price estimates are based on no claims or driving citations, $1,000 deductibles, drivers are single, and no discounts are applied.
Averaged for all ages 20 through 70, physical damage coverage costs an extra $2,362 per year over liability only. That amount may make you wonder when is the right time to remove full coverage. There is no exact rule that is best for determining when to drop physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
For example, let’s assume your vehicle’s book value is $4,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $3,500 after you pay the deductible. If it’s costing in excess of $350 a year for physical damage coverage, then you may need to consider dropping full coverage.
Best auto insurance company in Florida
Ending up with the highest-rated car insurance company can be rather challenging considering how many choices drivers have in Orlando. The ranking data shown below could help you decide which insurers to look at purchasing from. The rankings below are for insurance companies that insure vehicles in the majority of U.S. states, so companies that only write business in Florida or surrounding areas are not included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
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Data Source: Insure.com Best Car Insurance Companies
Ideas for finding the cheapest auto insurance for drivers with good credit
Here are some penny-pinching suggestions that can help you quote cheap car insurance.
- Better credit rating means better rates
- Avoid getting tickets or violations
- Vehicles with safetly features generally cost less to insure
- Save money by insuring older vehicles for liability only
- Raise your deductibles
- Remain accident-free and save
- Compare rates and switch if you can find a better deal
The last idea is particularly significant, as was emphasized in the prior article. Coverage prices in Orlando can change in a short period of time, so you should be ready to buy from a different company if a more affordable price is available. Having a favorite company is great, but we do not recommend it if that inflexibility results in costing you money that could be going to better use. Take a few minutes and shop around to find cheaper car insurance for drivers with good credit.