The words “low-priced” and “auto insurance” really should not be used together, especially when searching for the best price on coverage for high risk drivers. To save some money, let’s lead off by showing you a few of the things that help determine auto insurance prices, and find a way to slash the price of your next policy.
Trying to buy reasonably-priced car insurance is challenging, and determining which company has the cheapest car insurance rates for high risk drivers requires more quotes for comparison.
Each auto insurance company has their own process to set policy rates, so to begin we’ll rank the car insurance companies with the overall best prices in Tampa. Keep in mind that Tampa, FL car insurance rates are calculated based on many things which can substantially decrease or increase the price you have to pay. This price variability is why it is critical to take the time to shop around to find the best insurance rates for high risk drivers. Insurance prices consist of many things and can change substantially, so the cheapest rate the last time you checked may now be one of the more expensive options.
Best Auto Insurance Prices for Risky Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $986 |
| 2 | Amica | $1,694 |
| 3 | Electric | $1,746 |
| 4 | Progressive | $1,829 |
| 5 | Travelers | $1,945 |
| 6 | Allied | $1,985 |
| 7 | Mercury | $1,992 |
| 8 | Esurance | $2,040 |
| 9 | State Farm | $2,047 |
| 10 | GEICO | $2,150 |
| 11 | Auto-Owners | $2,171 |
| 12 | Allstate | $2,317 |
| 13 | 21st Century | $2,373 |
| 14 | Windhaven Insurance | $2,575 |
| 15 | Safeco | $2,987 |
| 16 | MetLife | $2,988 |
| 17 | Liberty Mutual | $3,009 |
| 18 | Hanover | $3,024 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $3,902 |
| Quote Your Rates Go | ||
USAA offers some of the lowest car insurance rates in Tampa at around $986 per year. Amica, Electric, Progressive, and Travelers would also make the list of some of the cheapest Tampa, FL auto insurance companies.
As shown in the rates above, if you currently buy coverage from Progressive and switched to Amica, you might see yearly savings of upwards of $135. Florida drivers with Travelers might save as much as $251 a year, and Allied insureds might reduce prices by as much as $291 a year.
If you want to find out if you’re overpaying, click here to start your custom quote or quote rates from the companies below.
Remember that these policy prices are averaged across all ages of drivers and types of vehicles and do not factor in an exact vehicle garaging location for high risk drivers. So the car insurance company that is most affordable for your situation may not even be in the list above. That’s why you need to get rate quotes using your own individual information.
For high risk drivers, one of the more important things that are looked at to help calculate the price you pay for insurance is your address in Tampa. More densely populated places tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower coverage costs.
The illustration below shows the most expensive areas in Florida for high risk drivers in which to buy car insurance. Tampa ranks #6 with the yearly price of $2,636 for the average policy, which is approximately $220 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Hialeah | $3,488 |
| 2 | Miami Gardens | $3,277 |
| 3 | Miami | $3,145 |
| 4 | Miami Beach | $3,013 |
| 5 | Miramar | $2,709 |
| 6 | Tampa | $2,636 |
| 7 | West Palm Beach | $2,599 |
| 8 | Fort Lauderdale | $2,576 |
| 9 | Hollywood | $2,552 |
| 10 | Davie | $2,523 |
| 11 | Pompano Beach | $2,518 |
| 12 | Coral Springs | $2,474 |
| 13 | Pembroke Pines | $2,407 |
| 14 | Brandon | $2,392 |
| 15 | St. Petersburg | $2,196 |
| 16 | Clearwater | $2,194 |
| 17 | Orlando | $2,090 |
| 18 | Spring Hill | $2,039 |
| 19 | Jacksonville | $2,020 |
| 20 | Port St. Lucie | $1,994 |
| 21 | Cape Coral | $1,917 |
| 22 | Lakeland | $1,901 |
| 23 | Palm Bay | $1,786 |
| 24 | Tallahassee | $1,784 |
| 25 | Gainesville | $1,696 |
| Get a Custom Quote Go | ||
Annual rates are approximated as the specific area where the vehicle is garaged can influence coverage rates considerably.
Full coverage rates compared to liability-only
Finding cheaper car insurance is probably important to most vehicle owners, and one of the quickest ways to reduce the cost of insurance for high risk drivers is to buy liability only. The example below shows the comparison of car insurance rates with and without full coverage. The information is based on no claims, a clean driving record, $100 deductibles, single marital status, and no discounts are taken into consideration.
As an average, comprehensive and collision coverage on your policy costs an extra $2,385 per year over and above liability only. That is a large expense and it proposes the question if you should buy full coverage. There is no definitive guideline to eliminate physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
For example, let’s assume your vehicle’s book value is $11,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $10,000 after paying your policy deductible. If it’s costing you more than $1,000 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
The illustration below demonstrates how choosing different deductibles can change insurance prices when searching for cheap insurance for high risk drivers. The data assumes a married female driver, full physical damage coverage, and no additional discounts are factored in.
A 50-year-old driver could lower their car insurance rates by $398 a year by switching from a $100 deductible to a $500 deductible, or save $600 by using a $1,000 deductible. Even younger drivers, such as the Age 20 example, could roll back prices $984 or even more by choosing larger deductibles on their policy. When insureds make the decision to increase the deductibles on their policy, it is important to have emergency funds available to enable you to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Get discounts on Tampa auto insurance
Insurance companies that offer quotes for high risk drivers may also give you price discounts that can reduce rates by as much as 30% if you meet certain criteria. A list of car insurance companies and a summarized list of policyholder discounts are shown below.
- GEICO policyholders can earn discounts including driver training, military active duty, multi-policy, anti-lock brakes, defensive driver, and multi-vehicle.
- Auto-Owners Insurance includes discounts for safe vehicle, multiple vehicles, mature driver, safe driver, and anti-theft.
- American Family may offer discounts for good student, TimeAway discount, defensive driver, mySafetyValet, good driver, and Steer into Savings.
- Esurance offers discounts including anti-lock brakes, good student, Pac-12 alumni, multi-car, safety device, and emergency road assistance.
- Progressive has savings for multi-policy, good student, continuous coverage, online signing, and online quote discount.
- State Farm offers discounts for safe vehicle, student away at school, multiple policy, anti-theft, and driver’s education.
- AAA may include discounts for multi-car, good student, good driver, multi-policy, pay-in-full, AAA membership discount, and education and occupation.
The diagram below illustrates the comparison of auto insurance costs with and without some available policy discounts. The premiums assume a female driver, three speeding tickets and one accident, Florida state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with passive restraint, paid-in-full, multiple policy, multiple vehicle, anti-theft, and marriage discounts applied. When these discounts are applied, theaverage amount saved on car insurance for high risk drivers is 28% or $1,172.
How to find low-cost car insurance for high risk drivers
Lowering your rates is not difficult, and here are many penny-pinching suggestions that can help you locate cheap coverage.
- Prevent price hikes by avoiding at-fault accidents
- Safe vehicles cost less to insure
- Drop full coverage on older vehicles
- Good credit can help you save money
- Save money by bundling your home and auto policies
- Shop around once a year for cheaper rates
The last item on the list is highly critical, as was noted in this write-up. Coverage prices in Tampa can be changed at any time, so don’t hesitate to buy a different policy if you can find a cheaper rate.
Brand loyalty is not necessarily bad, but it’s not a great idea if that faithfulness ends up costing you a fortune every year. In less than five minutes you could shop around to find cheaper car insurance for high risk drivers.
The insurance agencies listed below can provide answers to your questions and help you determine which coverage fits your budget, since some people have coverage questions and would like to have a consultation when trying to find lower insurance rates for high risk drivers. It can be challenging to find the best coverage on your own, so a professional agent can give you satisfaction knowing your policy gives you sufficient coverage at claim time.
To locate a Tampa insurance agent using an interactive map, click the link at the bottom or click here to compare prices now.
- Allstate Insurance: Rich Lovinger
4016 Henderson Blvd l – Tampa, FL 33629 – (813) 837-9329 - E J Ferro Insurance Agency
Tampa, FL 33647 – Tampa, FL 33647 – (813) 926-1515 - Herma White – State Farm Insurance Agent
14940 N Florida Ave – Tampa, FL 33613 – (813) 961-6661