Buying cost effective insurance is not the easiest thing to accomplish, and deciding which company quotes the best insurance rates for 20 year old guys may require even more rate comparisons. Every insurance company has a proprietary method for determining prices, so let’s take a look at the lowest cost insurance companies in Orlando.
It’s a good idea to be aware that Orlando insurance rates are determined by lots of factors that can increase the price of your policy. Price variation is why it is critical to compare many different companies when trying to find the best car insurance rates for 20 year old guys. Prices are made up of many different factors and change dramatically, so the most affordable company two years ago may now cost much more than other companies.
Cheap Insurance Rates for Men Age 20
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $986 |
| 2 | Electric | $1,694 |
| 3 | Amica | $1,712 |
| 4 | Progressive | $1,775 |
| 5 | Mercury | $1,933 |
| 6 | Travelers | $1,945 |
| 7 | Allied | $1,985 |
| 8 | State Farm | $2,047 |
| 9 | GEICO | $2,086 |
| 10 | Esurance | $2,102 |
| 11 | Auto-Owners | $2,107 |
| 12 | Allstate | $2,388 |
| 13 | 21st Century | $2,445 |
| 14 | Windhaven Insurance | $2,627 |
| 15 | MetLife | $2,958 |
| 16 | Hanover | $2,964 |
| 17 | Safeco | $3,016 |
| 18 | Liberty Mutual | $3,131 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $4,022 |
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USAA normally has some of the cheapest car insurance rates in Orlando at around $986 annually. Electric, Amica, Progressive, and Mercury would also be considered some of the cheaper Orlando, FL insurance companies.
In this example, if you are insured with Mercury and switched to Electric, you could earn savings of in the vicinity of $239. Florida drivers with Travelers might save as much as $251 a year, and Allied insureds might lower prices by $291 a year.
Remember that these premiums are averages for all ages of drivers and types of vehicles and do not take into consideration a specific vehicle garaging location for 20 year old guys. So the insurer that can offer you the lowest price may not even be in the list above. That affirms the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.
One of the more important factors that determine the price you pay for insurance is where you choose to live in Orlando. Cities with larger populations are more likely to pay higher prices, whereas areas with less people or fewer weather incidents get the luxury of paying less.
The illustration below rates the most expensive areas in Florida for 20 year old guys to buy auto insurance in. Orlando ranks #19 with an annual cost of $2,029 for the average policyholder, which is approximately $169 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Hialeah | $3,488 |
| 2 | Miami Gardens | $3,277 |
| 3 | Miami | $3,177 |
| 4 | Miami Beach | $2,953 |
| 5 | Miramar | $2,709 |
| 6 | West Palm Beach | $2,705 |
| 7 | Hollywood | $2,604 |
| 8 | Tampa | $2,558 |
| 9 | Coral Springs | $2,549 |
| 10 | Pompano Beach | $2,543 |
| 11 | Fort Lauderdale | $2,500 |
| 12 | Davie | $2,473 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,322 |
| 15 | St. Petersburg | $2,263 |
| 16 | Clearwater | $2,260 |
| 17 | Jacksonville | $2,040 |
| 18 | Spring Hill | $2,039 |
| 19 | Orlando | $2,029 |
| 20 | Port St. Lucie | $1,916 |
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Table data uses estimated as the garaging address in Orlando can affect price quotes significantly.
Reckless driving habits raise Orlando insurance rates
The recommended way to receive the most affordable insurance premiums for young men is to pay attention while driving and maintain a clean driving record. The illustration below highlights how speeding tickets and at-fault accidents can raise insurance costs for different age categories. The costs are based on a married female driver, comp and collision included, $250 deductibles, and no discounts are factored in.
The data charted above shows the average cost of auto insurance in Orlando per year with no accidents and a clean driving record is $2,241. Factor in two speeding tickets and the average cost surges to $3,192, an increase of $951 each year. Then add in one accident along with the two speeding tickets and the annual cost of insurance for 20 year old guys increases to an average of $4,167. That’s an increase of $1,925, or $160 per month, just for not being more responsible behind the wheel!
The example below demonstrates how choosing different deductibles can affect yearly insurance costs when trying to find cheap insurance for 20 year old guys. The data assumes a single male driver, full coverage, and no policy discounts are applied.
In the chart above, a 30-year-old driver could cut expenses by $522 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $786 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old, have the ability to save as much as $1,550 or more just by choosing higher deductibles.
When raising deductibles, it is essential to have plenty of savings on hand to pay the extra out-of-pocket expense that is associated with using high deductibles.
Selecting a high-quality car insurance company is hard considering how many different companies there are to choose from in Orlando. The ranking data shown below may help you select which auto insurance companies you want to consider purchasing a policy from.
These rankings only include companies with a nationwide focus, so companies that have a smaller presence are not factored into this list. To get price quotes from these top-rated insurers and more, click here.
Top 10 Large Auto Insurance Providers in Orlando Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
Top 10 Large Auto Insurance Providers Overall in Orlando
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Your cheap policy may actually be overpriced
Orlando insurance rates are impacted by many factors that can increase the policy price. Simply getting older, having a teen driver, or getting a ticket for running a stop sign may prompt premium changes that can now make some companies cheaper than before. Not only may your situation change, but car insurance companies change premium rates as often as every quarter in order to maintain liquidity for claims. Unexpectedly high claims may cause higher prices, while less frequent claims may cause cheaper Orlando car insurance rates.
The chart below shows rates for the cheapest car insurance in Orlando, FL for a 30-year-old male driver with a clean driving record, no accidents, and solid credit. When comparing rates based on his personal risk profile, USAA has the best car insurance rates in Orlando at $1,203 a year. This is $1,245 less than the average rate paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also make the list of the cheapest Orlando, FL auto insurance companies.
Let’s now give the driver in the first chart an accident claim, slightly worse credit, and a speeding citation. Since every insurance provider has their own process for determining prices, comparing rates may now present a different set of cheap Orlando auto insurance companies as shown below.
USAA now has the cheapest insurance rate in Orlando, FL with Allied, Esurance, GEICO, and State Farm now being in the top five. This example illustrates why it is crucial to take the time to shop around to find the most economical auto insurance rates for 20 year old guys. Auto insurance prices are determined by many things and change frequently, so the best option when you bought your policy may now cost much more than other companies.