Miami, FL Car Insurance

You can get the coverage you want at a price you can afford when you work with an independent agent.

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to


From major crashes on I-95 to fender-benders on Flagler Street, accidents can happen anytime, anywhere, and to anyone. That is why if you own a vehicle in Miami, you are required by Florida state law to carry car insurance. A good auto insurance policy can prevent an accident from costing you a fortune.

Independent agents are available to help you find the best policy to meet your coverage and budgetary needs. Contact an insurance agent near you to get more information and to start comparing customized car insurance quotes.

How Much Does Car Insurance Cost in Miami, FL?

The average cost of car insurance in Florida is significantly higher than the national average. Shopping around for the best rate has the potential to save you hundreds of dollars a year.

  • National average annual car insurance cost: $1,311
  • Florida average annual car insurance cost: $1,742

Car insurance costs can vary a lot between drivers. They are calculated individually based on the following things.

  • The year, make, and model of the vehicle(s) you are insuring
  • Your age, occupation, and driving record
  • Information about the other licensed drivers in your household
  • The amount of liability insurance you are purchasing
  • The coverage options you want to include in your policy
  • The size of your deductible

If you are getting your car insurance from the same insurer that provides some of your other policies like home insurance, renters insurance, or boat insurance, you can usually get significant discounts on all of the policies. This is referred to as an insurance bundle.

You may also be eligible for other incentives like a safe driver discount or a good student discount. Be sure to ask about any potential discounts for which you may qualify when you request your customized quotes.

What Are the Minimum Coverage Requirements for Miami Drivers?

Compared with other states, the minimum coverage requirement for drivers in Florida is very low. In this state, your policy only needs to include the following.

  • Property damage liability coverage (PDL): This covers property damage you may cause to others if you are at fault for a collision. You must have at least $10,000 worth of PDL coverage.
  • Personal injury protection coverage (PIP): This covers medical bills, lost wages, and other related costs if you or your passengers are injured in a collision, regardless of fault. You must have at least $10,000 worth of PIP coverage.

When moving to Florida, many people are surprised to learn that their car insurance policies do not need to include bodily injury liability (BIL) coverage. Florida is one of only two states that does not require it.

If you cause a collision and someone is seriously injured, their needed medical care can easily exceed $10,000. If that is all they carry in PIP coverage, you can be looking at a pretty hefty lawsuit where you are required to make up the difference.

That is why many drivers in Florida opt to also purchase BIL coverage even though it is not required.

What Else Can Miami Car Insurance Cover?

In addition to the mandatory coverage types mentioned above, most car insurance providers offer a number of coverage options such as the following.  

  • Bodily-injury liability coverage: This can cover other people’s medical bills that exceed their PIP coverage if they are injured in a collision for which you are at fault.
  • Collision and comprehensive coverage: These are designed to cover repair or replacement costs for your own vehicle if it is lost or damaged in a covered event. It is typically required by lenders if you are still paying for your vehicle and by dealerships if you have your vehicle on a lease.
    • Collision insurance: This covers against collision-related loss or damage, regardless of fault.
    • Comprehensive insurance: This covers non-collision-related loss or damage, such as may occur due to a falling object or flood.
  • Uninsured motorist insurance: This can cover property damage and medical bills that exceed your PIP coverage if you in a collision caused by an uninsured, underinsured, or hit-and-run driver.
  • Roadside assistance and towing: This can cover the cost of necessary assistance if your vehicle becomes disabled while out on the road, such as if you get a flat tire or your engine overheats.
  • Gap insurance: This pay off your car loan or lease buyout if your car is totaled in a covered event.
  • Rental reimbursement coverage: This can cover the cost of renting a vehicle while repairs are being made to your own car following a covered event.

It is a good idea to review each coverage option to determine whether it is a good fit for you and your family.


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Why Is Uninsured Motorist Insurance Particularly Important in Miami?

Driving without insurance in Florida is illegal. If caught, uninsured drivers can be penalized with the following.

  • Fees ranging from $150 to $500
  • The suspension of their driving privileges for up to 3 years

Compared with other states, these penalties are pretty lax. That may explain why this state has the highest rate of uninsured drivers in the county.

  • Percentage of US drivers who are uninsured: 13.0%
  • Percentage of Florida drivers who are uninsured: 26.7%

If you are in a collision caused by an uninsured driver, your property damage can by covered by collision insurance (if you have it). Additionally, any medical bills that you and your passengers require due to the accident can be paid for by your PIP coverage.

However, if you or one of your passengers is seriously injured and requires surgery, long hospital stays, or long-term care, your costs can easily exceed what your PIP can cover. If this happens, you would need to go after the at-fault driver through legal channels, which can be challenging.

Fortunately, you can avoid all this by purchasing uninsured/underinsured motorist insurance. When you have this optional coverage, your insurance company can reimburse you immediately and will take on the difficult task of collecting restitution from the at-fault driver.

How High Is the Auto Theft Rate in Miami?

The auto theft rate in Florida is higher than the national average, and in Miami, the rate is even higher. Residents of this city report about 2,000 stolen vehicles every year.

  • National auto theft rate per 1,000 vehicles: 2.29
  • Florida auto theft rate per 1,000 vehicles: 3.81
  • Miami auto theft rate per 1,000 vehicles: 4.44

The only way you can be reimbursed following an auto theft is if your car insurance policy includes comprehensive coverage.

If you are currently leasing or financing your vehicle, chances are good you have comprehensive coverage already. If not, you may want to look into how much it will cost for you to add it to your car insurance policy.

Why Work with a Local Independent Insurance Agent?

Independent agents take the guesswork out of buying insurance.

These agents can be a great source of information, not just when you are looking for the best car insurance policy, but any time you have insurance-related questions. Best of all, it won’t cost you anything to consult one of these experienced professionals.

Independent agents can obtain customized quotes from multiple insurance providers on your behalf. That way you can choose the policy that gives you the coverage you want at the best price. Contact an independent insurance agent in Miami to get started.

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