The words “bargain” and “insurance” really shouldn’t be used in the same sentence, specifically when trying to find the cheapest auto insurance for drivers requiring a SR22. To save some money, let’s teach you a few of the factors that have an impact on auto insurance premiums, and figure out some ways to cut the cost of the next policy you buy.
Locating low-cost car insurance is challenging, and finding out which company has the cheapest car insurance rates for drivers requiring a SR22 requires additional perseverance. Every insurance provider has a unique approach to set premium rates, so let’s take a look at the lowest cost car insurance companies in Jacksonville.
It’s important that readers know that Florida car insurance rates are determined by lots of factors which can substantially decrease or increase the price you have to pay. This price variability is why Florida drivers need to perform an extensive rate comparison to get the most affordable insurance rates for drivers requiring a SR22. Car insurance prices are calculated by many things and can increase or decrease at any time, so the best company six months ago may now be one of the more expensive options.
Best Cheap Insurance Rates for SR22 Drivers
|Rank||Company||Cost Per Year|
|View More Rates Go|
USAA generally has some of the most affordable car insurance rates in Jacksonville at around $986 per year. This is $1,462 less than the average rate paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Allied would also make the list of some of the best Jacksonville, FL insurance companies.
As shown in the rates above, if you currently have coverage with Amica and switched to USAA, you might see an annual premium reduction of approximately $760. Florida drivers with Electric may save as much as $778 a year, and Progressive insureds might reduce prices by as much as $807 a year.
To find the cheapest coverage for you, click here to get a free quote or click several companies below for low rates.
It’s important to note that these premium estimates are averaged across all ages of drivers and types of vehicles and are not factoring in a specific vehicle garaging location for drivers requiring a SR22. So the car insurance company that has the lowest price for you may not even be in the top 21 companies shown above. That illustrates why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.
The car, truck, or SUV driven is a large consideration when shopping for cheap car insurance for drivers requiring a SR22. Vehicles with average performance, a great safety record, or a track record of few liability claims will cost quite a bit less to insure than higher performance models.
The next table estimates car insurance prices for the most cost-effective vehicles to insure in Florida.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$4,056|
|Honda CR-V EX-L 2WD||$4,102|
|Ford Escape XLS 4WD||$4,229|
|Ford Explorer XLT 2WD||$4,586|
|Ford Focus SE 4-Dr Sedan||$4,761|
|Jeep Grand Cherokee Laredo 2WD||$4,807|
|Chevrolet Malibu Hybrid||$4,817|
|Ford Edge Limited 2WD||$4,946|
|Toyota Camry LE||$4,954|
|Toyota RAV4 Limited 2WD||$4,962|
|Volkswagen Jetta S 4-Dr Sedan||$5,002|
|Dodge Grand Caravan Crew||$5,055|
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Cost estimates assume single male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, and homeowner. Rate information does not factor in specific location information which can impact price quotes substantially.
Based on these rates, we can tell that models like the Honda Accord, Honda CR-V, and Ford Escape should be a few of the less-costly vehicles to insure for high risk drivers. The cost of a car insurance policy will tend to be more expensive because there is more claim risk for drivers requiring a SR22, but overall those vehicles will probably have the cheapest auto insurance rates compared to other vehicles.
Insuring your vehicle with the right insurer is hard considering how many choices there are in Jacksonville. The company rank data in the next section may help you choose which car insurance companies to look at when shopping around. These ratings are for insurance companies that insure vehicles in the majority of U.S. states, so smaller companies are not factored into the list.
Top 10 Large Auto Insurers in Jacksonville Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Large Auto Insurers in Jacksonville Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
The chart below shows how different deductible levels can raise or lower insurance prices when quoting cheap insurance for drivers requiring a SR22. The price estimates are based on a single male driver, full coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could pocket $384 a year by switching from a $100 deductible up to a $500 deductible, or save $582 by using a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could drop their prices as much as $1,126 every year by using a higher deductible. If you do raise deductibles, it will now be necessary to have plenty of money set aside to offset the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Impact of citations and accidents on insurance rates
The ideal way to score the most affordable car insurance rates for high risk drivers is to be a careful driver and avoid accidents and keep your driving record clean. The diagram below illustrates how speeding tickets and at-fault claims influence car insurance rates for each different age category. The rate quotes are based on a married male driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
The data above shows the average cost of a car insurance policy per year with no accidents and a clean driving record is $2,067. Get written up for two speeding tickets and the average cost increases to $2,859, an increase of $792 each year. Now throw in one accident along with the two speeding tickets and the yearly cost of car insurance for drivers requiring a SR22 increases to an average of $3,652. That’s an increase of $1,585, or $132 per month, just for not being more responsible behind the wheel!