Deciphering which companies offer the lowest-priced car insurance rates in Hollywood calls for a tad more effort thank just comparing rates from one or two companies.
Every auto insurer has a proprietary method to set their prices, so let's take a look at the car insurance companies with the most affordable rates in Hollywood, FL. It's important that you understand Florida car insurance rates are influenced by many factors that control the price of your policy. Turning one year older, getting married, or having an at-fault accident may generate price changes resulting in some companies being cheaper than competitors.
|Rank||Company||Cost Per Year|
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USAA generally has some of the cheapest car insurance rates in Hollywood at around $948 annually. This is $1,500 less than the average rate paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury would also make the list of some of the cheapest Hollywood, FL insurance companies.
As illustrated above, if you currently have a policy with Progressive and switched to Electric, you may realize a yearly price reduction of approximately $63. Insureds with Mercury may save as much as $202 a year, and Travelers policyholders might cut rates by $233 a year.
Remember that these premiums are averages for all ages of drivers and types of vehicles and are not factoring in a specific location in Hollywood. So the car insurance company that fits your needs best may not even be in the top 21 companies in the list above. That points out the importance of why you need to get auto insurance quotes using your own specific driver and vehicle information.
For drivers in Hollywood, one of the more important things that help determine car insurance rates is where you choose to live. Cities with more crime and/or more people will most likely pay more, whereas less populated areas tend to receive slightly lower rates.
The next table shows the highest-priced places in Florida to purchase auto insurance in. Hollywood is ranked at #7 with a yearly premium of $2,604 for the average policy, which is about $217 monthly.
|6||West Palm Beach||$2,679|
|20||Port St. Lucie||$1,994|
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Prices are estimated as specific Hollywood zip code can lower or raise prices considerably.
The type of vehicle you are buying coverage for is one of the largest considerations when trying to find cheap coverage in Hollywood. Vehicles with lower acceleration and performance, good safety features, or a positive history of liability claims will cost much less to insure than fast, unsafe models.
The information below shows car insurance costs for the more affordable vehicles to insure in Florida.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$1,898|
|Honda Accord LX-P 4-Dr Sedan||$2,074|
|Honda CR-V LX 4WD||$2,079|
|Dodge Grand Caravan CV||$2,121|
|Ford F-150 XLT Crew Cab 2WD||$2,323|
|Honda Odyssey EX-L W/Navigation||$2,363|
|Nissan Rogue S 2WD||$2,403|
|GMC Sierra SLE Regular Cab 4WD||$2,406|
|Volkswagen Jetta SE 4-Dr Sedan||$2,416|
|Chevrolet Equinox LTZ AWD||$2,406|
|Ford Fusion SE 4-Dr Sedan||$2,413|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$2,431|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$2,450|
|Toyota Camry LE||$2,456|
|Jeep Grand Cherokee Laredo 2WD||$2,461|
|Toyota Tacoma 2WD||$2,468|
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Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Rate quotes do not factor in specific zip code location which can affect premiums substantially.
By looking at the data, vehicles like the Ford Escape, Honda Accord, and Honda CR-V are some of the most affordable vehicles to insure for drivers in Hollywood.
Get discount Hollywood auto insurance rates
Auto insurance companies that offer quotes in Hollywood may also give you discounts that could reduce prices by as much as 35% or more if you can meet the requirements. Popular insurance companies and their possible discounts can be read below.
- Mercury Insurance offers discounts for good driver, professional/association, accident-free, type of vehicle, and anti-theft.
- Farmers Insurance offers premium reductions for youthful driver, switch companies, teen driver, electronic funds transfer, early shopping, pay in full, and bundle discounts.
- Farm Bureau may include discounts for multi-policy, good student, safe driver, youthful driver, and 55 and retired.
- State Farm includes discounts for accident-free, good driver, multiple autos, Steer Clear safe driver discount, and Drive Safe & Save.
- Allstate has discounts for good payer, EZ pay plan discount, 55 and retired, anti-theft, eSmart discount, new car, and safe driver.
- GEICO has savings for five-year accident-free, membership and employees, emergency military deployment, multi-policy, and daytime running lights.
The example below compares insurance prices with and without discounts applied to the rates. The information is based on a male driver, a clean driving record, no claims, Florida state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with accident-free, anti-theft, marriage, passive restraint, defensive driving course, and multiple policy discounts applied. When discounts are applied, the average amount saved each year on insurance in Hollywood is 28% or $486.
The information below demonstrates how deductible levels can influence yearly insurance costs when trying to find cheap insurance in Hollywood. The premiums are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
A 50-year-old driver could pocket $344 a year by increasing from a $100 deductible to a $500 deductible, or save $518 by changing to a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could drop their prices as much as $1,126 each year just by using higher deductibles. If you make the decision to raise deductibles, it is a good idea to have plenty of savings on hand to allow you to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
How to find the cheapest car insurance in Hollywood
It is possible to find better rates, and here are many thrifty solutions that can help drivers get cheap coverage.
- Increase your deductibles
- Do not get traffic tickets
- Vehicles with good safety ratings are usually cheaper to insure
- If your vehicles are older, consider dropping full coverage
- Accident-free drivers may qualify for discounts
- Higher credit ratings may save you money
- Keep rates low by comparing prices once a year
The last tip is extremely important, as was stressed in the prior article. Prices charged by auto insurers fluctuate constantly, so you should be ready to buy from a new company if a lower price can be found.
Having a favorite company is fine, but is isn't recommended if that loyalty ends up costing money that could be going to better use. It takes less than five minutes to compare rates and find cheaper car insurance in Hollywood.