Who Has Affordable Car Insurance Rates for a 20 Year Old Male in Tampa?

The car, truck, or SUV you are buying coverage for is a large factor when comparing the best cheap insurance for 20 year old guys. Vehicles with reasonable performance levels, advanced safety features, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models.

The next list estimates car insurance prices for the most cost-effective automobiles to buy insurance for.

Cheapest Vehicles to Insure in Tampa, FL
Insured Vehicle Estimated Cost for Full Coverage
Ford Escape XLS 4WD $4,921
Honda CR-V EX 4WD $4,996
Volkswagen Jetta S 2.5 Station Wagon $5,362
Hyundai Elantra SE Touring Station Wagon $5,370
Honda Accord EX-L 4-Dr Sedan $5,362
Toyota Prius $5,434
Ford F-150 STX Super Cab 4WD $5,549
Ford Edge SE AWD $5,769
Jeep Wrangler Unlimited Sport 2WD 4-Dr $5,841
Chevrolet Impala LT $5,844
Dodge Grand Caravan Hero $5,854
Jeep Grand Cherokee Laredo 2WD $5,844
Toyota RAV4 4WD $5,853
Toyota Camry LE $5,844
Chevrolet Silverado LS Extended Cab 4WD $5,851
Ford Explorer Eddie Bauer 4WD $5,915
Toyota Tacoma X-Runner 2WD $6,210
Toyota Corolla S $6,218
Honda Odyssey EX-L $6,210
Nissan Rogue S 2WD $6,263
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Data variables include single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in your specific Tampa, FL location which can change auto insurance rates greatly.

By looking at the data, we can expect models like the Ford Escape, Honda CR-V, Volkswagen Jetta, Hyundai Elantra, and Honda Accord are most likely to be a few of the most budget-friendly vehicles to insure for young men. The cost of a car insurance policy will tend to be more expensive just due to the fact that there is more claim risk for 20 year old guys, but generally speaking those particular models will tend to have the best insurance prices that you are likely to find.

For young men, one of the largest components that help determine the price you pay for insurance is your zip code in Tampa. Larger areas likely pay more, whereas areas with less people or fewer weather incidents receive better rates.

The illustration below lists the most expensive areas in Florida for 20 year old guys to purchase a policy in. Tampa is ranked #8 with an annual cost of $2,558 for the average policyholder, which is about $213 per month.

How much does car insurance cost in Tampa, FL?
Rank City Annual Premium
1 Hialeah $3,630
2 Miami Gardens $3,277
3 Miami $3,273
4 Miami Beach $2,923
5 Hollywood $2,630
6 West Palm Beach $2,625
7 Miramar $2,603
8 Tampa $2,558
9 Coral Springs $2,549
10 Pompano Beach $2,518
11 Pembroke Pines $2,505
12 Fort Lauderdale $2,500
13 Davie $2,448
14 Brandon $2,392
15 Clearwater $2,260
16 St. Petersburg $2,196
17 Spring Hill $2,039
18 Orlando $2,029
19 Port St. Lucie $1,994
20 Jacksonville $1,980
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Table data uses comparative as specific Tampa garaging address can decrease or increase prices significantly.

Buying low-priced insurance is tough enough, and finding out which company has the cheapest auto insurance rates for 20 year old guys will require a bit more work.

Each auto insurance company has their own process for determining rates, so let’s take a look at the overall cheapest auto insurance companies in Florida. It’s a good idea to know that Tampa auto insurance rates are influenced by many factors which can significantly increase or decrease the cost of your policy. That is why drivers need to compare rates when trying to get the best insurance rates for 20 year old guys. Auto insurance prices consist of many risk factors and change substantially, so the most economical company the last time you checked may now be one of the more expensive options.

Best Car Insurance Prices for Men Age 20

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USAA may have some of the lowest car insurance rates in Tampa at around $948 annually. Electric, Amica, Progressive, and Travelers would also be considered some of the cheaper Tampa, FL insurance companies.

In the above rates, if you are a policyholder with Progressive and switched to USAA, you could see a yearly price reduction of approximately $881. Florida drivers with Travelers may save as much as $997 a year, and Mercury insureds might lower prices by $1,025 a year.

Understand that those policy prices are averaged across all insureds and vehicles and do not take into consideration a vehicle location for 20 year old guys. So the company that can offer you the lowest price may not even be in the list above. That’s why you need to quote rates from many companies using your own specific driver information and vehicle.

Types of discounts on Tampa car insurance

Discounts on auto insurance for 20 year old guysAuto insurance companies that provide coverage for 20 year old guys may also offer price discounts that could lower prices by as much as 35% if you can meet the requirements. Large auto insurance companies and some of their more popular discounts are detailed below.

The chart below shows the difference between insurance costs with and without discounts. The data is based on a male driver, no tickets, no at-fault accidents, Florida state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with paperless filing, vehicle safety, good student, continuous coverage, passive restraint, and anti-theft discounts applied. When these discounts are applied, theamount saved on auto insurance for 20 year old guys is 19% or $496.

The diagram below illustrates how your choice of deductibles can increase or decrease yearly insurance costs when quoting cheap insurance for 20 year old guys. The costs are based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.

The data above shows that a 30-year-old driver could reduce rates by $320 a year by increasing from a $100 deductible up to a $500 deductible, or save $486 by using a $1,000 deductible. Young drivers, like the 20-year-old, can cut $966 or more by using a higher deductible.

If you make the decision to raise deductibles, it is necessary to have enough savings to be able to cover the extra out-of-pocket expense associated with higher deductibles.

Compare rates to save

Tampa, FL auto insurance rates are based on many factors that will increase or decrease the cost of your policy. Simply improving your credit, buying a home instead of renting, or getting into an accident can cause premium changes that may make certain companies more affordable than competitors.

And not only may your rating factors change, but car insurance companies file new Florida car insurance rates as often as every three months in order to offset underwriting gains or losses. A period of increased losses can result in increased rates, while a better loss history may result in cheaper Tampa car insurance rates.

To illustrate this point, the chart below shows the companies that have the cheapest car insurance in Tampa, FL for a 40-year-old male driver with no violations or accidents, and good credit. If we estimate prices based on his current risk profile, USAA quotes the cheapest car insurance rates in Tampa at $1,532 a year. This is $916 less than the average price paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Allied are also included in the most affordable Tampa, FL auto insurance companies.

The chart below compares rates after we give the driver from above a chargeable claim, a lower credit rating, and a few traffic violations. Since each auto insurance company has a proprietary formula to set policy rates, comparing prices may now result in a slightly different list of the cheapest companies as shown below.

USAA now has the lowest car insurance rate in Tampa with Mercury, State Farm, Esurance, and Auto-Owners now being in the top five. This shows why Florida drivers need to compare lots of rates to get the cheapest car insurance rates for 20 year old guys. Prices can be determined by many factors and can decrease or increase without notice, so the best price the last time you checked may now be quite expensive.