You have probably watched the commercials from car insurance companies like State Farm, Nationwide, and GEICO that make claims of the cheapest price, so you should just pick the company with the best ad, right?
It’s just not that easy, however, as there are a whole bunch of unknown elements like what liability limits you need, whether you are single or married, what deductibles you want to use, and if you have ever had a coverage lapse, that all have an effect on the price of a policy. This article goes into detail about the types of situations that result in high rates and hopefully give you enough understanding to have a solid foundation to find cheaper car insurance in Tampa.
The vehicle needing coverage is a large factor when comparison shopping for the best cheap car insurance for drivers requiring a SR22. Vehicles with more horsepower, a lack of modern safety features, or a high likelihood of having liability claims will cost much more to insure than more modest models.
The list below presents insurance rates for a number of the most budget-friendly automobiles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $6,499 |
| Ford Escape XLS 4WD | $6,703 |
| Honda Accord LX-P 4-Dr Sedan | $6,713 |
| Honda CR-V EX 2WD | $6,770 |
| Toyota Prius | $7,001 |
| Chevrolet Silverado LS Regular Cab 4WD | $7,488 |
| Volkswagen Jetta SE 2.5 Station Wagon | $7,598 |
| Dodge Grand Caravan Crew | $7,778 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $7,785 |
| Honda Odyssey EX W/Rear Entertainment | $7,854 |
| Ford Edge SE AWD | $7,862 |
| Toyota RAV4 2WD | $7,933 |
| Toyota Camry LE | $7,938 |
| Start a Quote Go | |
Prices above based on single male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-vehicle, and multi-policy. Price information does not factor in specific location which can revise price quotes greatly.
Looking at the rates, makes and models like the Hyundai Elantra, Ford Escape, and Honda Accord should be a few of the cheaper vehicles to insure for high risk drivers. Prices will trend higher just due to the fact that there is a higher risk for drivers requiring a SR22, but in general those particular vehicles will tend to have the cheapest auto insurance rates possible.
Figuring out which company offers the best auto insurance rates for drivers requiring a SR22 requires more work in order to find the lowest price quote.
Every insurance company uses their own calculation for establishing rates, so we will examine the most budget-friendly auto insurance companies in Tampa, FL.
Best Insurance Companies for SR22 Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $948 |
| 2 | Amica | $1,694 |
| 3 | Electric | $1,764 |
| 4 | Progressive | $1,847 |
| 5 | Travelers | $1,945 |
| 6 | Mercury | $1,973 |
| 7 | Allied | $1,985 |
| 8 | Esurance | $2,082 |
| 9 | State Farm | $2,131 |
| 10 | Auto-Owners | $2,149 |
| 11 | GEICO | $2,172 |
| 12 | Allstate | $2,340 |
| 13 | 21st Century | $2,469 |
| 14 | Windhaven Insurance | $2,549 |
| 15 | Hanover | $2,964 |
| 16 | Safeco | $2,987 |
| 17 | MetLife | $2,988 |
| 18 | Liberty Mutual | $3,039 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $4,062 |
| Get a Custom Quote Go | ||
USAA quotes some of the most affordable car insurance rates in Tampa at around $948 each year. This is $1,500 less than the average premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are also some of the more affordable Tampa, FL auto insurance companies.
As shown in the rates above, if you have coverage with Amica and switched to USAA, you might achieve annual savings of around $746. Drivers with Electric could save as much as $816 a year, and Progressive insureds might reduce rates by $899 a year.
Be aware that those policy rates are averages across all ages of drivers and types of vehicles and do not take into consideration a specific vehicle garaging location for drivers requiring a SR22. So the insurer that fits your needs best may not even be in the list above. That’s why you need to compare as many prices as possible using your own individual information.
How accidents and violations affect rates
The best way to find good auto insurance rates for high risk drivers is to be an attentive driver and avoid getting tickets or having accidents. The diagram below illustrates how violations and at-fault claims influence auto insurance costs for each different age category. The premiums are based on a married male driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
The data above shows the average cost of car insurance per year with no accidents or violations is $2,487. Add in one speeding ticket and the average cost hikes up to $2,860, an increase of $372 each year. Then add in one accident along with the one speeding ticket and the 12-month cost of auto insurance for drivers requiring a SR22 jumps again to an average of $3,913. That’s an increase of $1,426, or $119 per month, just for a couple of infractions!
The illustration below shows how different deductible levels can raise or lower annual premium costs when trying to find cheap insurance for drivers requiring a SR22. The rate quotes are based on a single male driver, comp and collision included, and no discounts are applied to the premium.
As shown above, a 40-year-old driver could lower their policy premium by $344 a year by changing from a $100 deductible up to a $500 deductible, or save $518 by changing to a $1,000 deductible. Young drivers, like the Age 20 chart data, can save $1,126 every year just by choosing higher deductibles when buying full coverage.
If you do decide to increase your deductibles, it is necessary to have additional funds squirreled away to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Get discount Tampa insurance rates
Auto insurance companies that offer cheap quotes for drivers requiring a SR22 may also offer price discounts that could lower prices by as much as 40% or more if you can meet the requirements. Popular auto insurance companies and some of the discounts are shown below.
- GEICO has savings for seat belt use, multi-policy, anti-lock brakes, daytime running lights, driver training, membership and employees, and air bags.
- MetLife includes discounts for accident-free, good driver, good student, claim-free, defensive driver, multi-policy
- State Farm offers discounts for anti-theft, driver’s education, good driver, accident-free, multiple autos, and safe vehicle.
- Progressive may have discounts that include good student, online signing, continuous coverage, multi-vehicle, homeowner, multi-policy, and online quote discount.
- Mercury Insurance has discounts for good driver, anti-theft, good student, age of vehicle, and type of vehicle.
- 21st Century discounts include teen driver, driver training, automatic seat belts, air bags, and good student.
- Allstate offers discounts including eSmart discount, premier discount, farm vehicle, 55 and retired, resident student, FullPay discount, and premier plus.
The diagram below illustrates the comparison of insurance costs with and without discounts being applied to the rates. The prices are based on a male driver, three traffic citations and one accident, Florida state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with multiple policy, marriage, paid-in-full, continuous coverage, paperless filing, and multiple vehicle discounts applied. When discounts are factored in, theaverage amount saved on auto insurance for drivers requiring a SR22 is 28% or $1,188.
How to find budget-friendly auto insurance for drivers requiring a SR22
The list below shows a few money-saving solutions that can help Tampa drivers get cheaper auto insurance.
- Avoid having at-fault accidents
- Be a safe driver
- Vehicles with good safety ratings are usually cheaper to insure
- Too many claims can make car insurance unaffordable
- Buying home and auto together can help save money
- Compare rates once a year for cheaper prices
That last piece of advice is especially significant, as was discussed in the prior article. Insurance rates can be adjusted at any time, so drivers shouldn’t be resistant to switch carriers if a cheaper rate is available.
Brand loyalty is not necessarily bad, but it’s not a good idea if that stubbornness costs you thousands of dollars over several years. Take a few minutes and compare rates to find cheaper auto insurance for drivers requiring a SR22 in Tampa.
The agents listed below can provide answers to your questions and help you determine which coverages you need, as some people have coverage questions and would like to have some professional guidance when trying to find the best insurance rates for high risk drivers. It can be difficult to find coverage yourself, and getting advice from a licensed agent can bring peace of mind knowing your coverage gives you decent coverage if you have a claim.
To locate a Tampa car insurance agency close to where you live, click the button below the list.
- GEICO Insurance Agent
2703 W Kennedy Blvd – Tampa, FL 33609 – (813) 259-1142 - Pam Williams – State Farm Insurance Agent
10005 Gallant Ln – Tampa, FL 33625 – (813) 963-3216 - Florida Commercial Insurance
4915 W Cypress St – Tampa, FL 33607 – (813) 262-2303 - Global FIS – A Full Service Independant Insurance Agency
8710 W Hillsborough Ave #201 – Tampa, FL 33615 – (813) 343-0844 - Phil Cole Whitco Insurance Agency
6601 Memorial Hwy #230 – Tampa, FL 33615 – (813) 884-7577