The type of vehicle requiring insurance is one of the main factors that determines whether or not you can buy the best cheap coverage for a learners permit. Vehicles with limited speed and performance, good safety features, or low incidents of liability claims will cost much less to insure than high performance models.
The next table estimates auto insurance costs for a number of the more affordable vehicles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$6,387|
|Ford Escape XLT 4WD||$6,449|
|Honda CR-V EX 4WD||$6,455|
|Ford F-150 STX Regular Cab 2WD||$7,112|
|Honda Odyssey LX||$7,121|
|Ford Explorer XLT AWD||$7,175|
|Toyota Tacoma 4WD||$7,183|
|Ford Edge SEL AWD||$7,518|
|Toyota RAV4 Limited 2WD||$7,581|
|Volkswagen Jetta LE 4-Dr Sedan||$7,586|
|Nissan Altima 2.5 4-Dr Sedan||$7,581|
|Toyota Camry LE||$7,586|
|Chevrolet Equinox LS 2WD||$7,581|
|Dodge Grand Caravan Crew||$7,644|
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Data variables include single female 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. Premium costs do not factor in the specific area where the vehicle is garaged which can decrease or increase rates significantly.
Looking at the numbers, you can expect models like the Hyundai Elantra, Ford Escape, and Honda CR-V are most likely going to be the most affordable vehicles to insure for new drivers. The cost of auto insurance will be more expensive because of the fact that there is more liability exposure for a learners permit, but in general those particular models will tend to have the best rates that you are likely to find.
Establishing which companies offer the cheapest auto insurance rates for a learners permit may require a tad more effort in order to find a policy that fits your budget. Every insurance provider has a proprietary method for setting rates, so let’s take a look at the most affordable auto insurance companies in Florida.
We do need to point out that Florida auto insurance rates are determined by lots of factors which can substantially change the price you have to pay for coverage. Simply turning a year older, buying another vehicle, or getting a ticket for running a stop sign can cause premium changes resulting in some companies being affordable when they were higher priced.
Best Cheap Insurance Rates in Florida
USAA may offer some of the cheapest car insurance rates in Tampa at around $986 a year. This is $1,462 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also qualify as some of the more affordable Tampa, FL auto insurance companies.
As shown in the table above, if you are insured with Progressive and switched to USAA, you might realize an annual premium reduction of in the neighborhood of $807. Customers with Travelers might save as much as $883 a year, and Mercury insureds might realize rate reductions of up to $947 a year.
To find the cheapest coverage for you, click here to get quotes or visit several of the following companies.
It’s important to note that these premiums are averaged for all drivers and vehicles in Florida and do not factor in a specific zip code for a learners permit. So the auto insurance company that fits your age and vehicle best may not even be in the top 21 companies shown above. That is why you need to get rate quotes using your own driver information and specific vehicle type.
Auto insurance rates are higher with tickets and accidents
The obvious way to receive the best auto insurance rates for new drivers is to be a careful driver and have a clean driving record. The example below illustrates how traffic citations and at-fault claims can impact annual premium costs for each age group. The premium estimates are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.
In the previous example, the average cost of an auto insurance policy per year with no accidents or violations is $2,362. Get two speeding tickets and the average cost surges to $3,113, an increase of $751 each year. Now add two accidents along with the two speeding tickets and the 12-month cost of auto insurance for a learners permit jumps again to an average of $6,235. That’s an increase of $3,873, or $323 per month, just for being a less-than-perfect driver!
The illustration below highlights how deductible choice can affect premium costs when getting quotes for cheap insurance for a learners permit. The premium estimates are based on a single female driver, full coverage, and no discounts are applied.
As shown above, a 50-year-old driver could lower their car insurance rates by $332 a year by changing from a $100 deductible to a $500 deductible, or save $500 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old example, could save as much as $838 or even more by using higher deductibles when buying full coverage. When using a larger deductible, it is necessary to have plenty of money set aside to enable you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
The benefits of price comparisons
Florida auto insurance rates are impacted by many factors that control your annual premium. Simply getting older, buying a different home, or getting a speeding ticket may prompt premium changes that can cause some rates to be cheaper than competitors. Not only that, but insurance companies file new Florida car insurance rates as needed to adjust for unexpected claims or profits. Significantly higher claims may result in additional price hikes, while long-term profits can cause lower-cost Tampa car insurance rates.
As an example, the bar chart below shows the companies that have the cheapest car insurance in Tampa, FL for a 35-year-old male driver with no accidents or violations, and a high credit rating. If we look at prices based on his personal profile, USAA quotes the most affordable car insurance rates in Tampa at $1,429 each year. This is $1,019 less than the average premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers also make the list of the top five cheapest Tampa, FL auto insurance companies.
Now let’s give the driver from the above example a claim or two, bad credit, and a blemish on his driving record. Because each company has their own guidelines to set premium rates, comparing prices could now result in a significantly different list of affordable Tampa car insurance companies as shown below.
USAA now has the cheapest price in Tampa, FL with Mercury, Esurance, Auto-Owners, and State Farm now being in the top five. This shows why it is critical to shop around with many companies when trying to find the most economical insurance rates for a learners permit. Car insurance prices can be altered by many things and can increase or decrease at any time, so the cheapest rate the last time you checked may now be an over-priced policy.