By: Ishan Mukhopadhyay Nov. 23, 2018
“I feel that car insurance rates are quite high in Florida and you need to shop around to see the best prices available,” an insurance holder responded to Raltin’s survey. In a recent analysis of car insurance prices in Baker County, Florida, Raltin calculated the difference in insurance holders’ savings between the 75th and 25th percentile premiums. The results indicate that families with young drivers have the highest savings of $5,125 (112.99%) when they choose the 25th percentile premium instead of the 75th percentile one. The second highest saving is by 25-year-old single female drivers at $1,372 (63.49%). For this study, Raltin applies information from the Florida Office of Insurance Regulation.
Every car insurance agreement precludes a certain coverage limit and deductible value. This survey considers the following values: property damage limits of $50,000 and $100,000, comprehensive and collision deductibles of $250 and $500, a medical payment limit of $5,000, a personal injury protection limit of $10,000, and an uninsured motorist limit and bodily injury limit ranging from $25,000 to $100,000. The cars chosen as reference point for the survey are the Toyota Camry LE and Toyota Corolla LE.
The survey suggests that senior married drivers pay the cheapest premium at $670 offered by Florida Farm Bureau General Insurance. Allstate General Insurance Company quotes the median premium for this cohort at $1,250. The most expensive premium is by Direct General Indemnity Company at $3,033.
Twenty-five-year-old single female drivers incur the second cheapest premium of $1,587 by United Services Automobile Association. Allstate Fire and Casualty Insurance offers the median premium for these drivers, at $2,754. Infinity Auto Insurance quotes the most expensive premium to this cohort at $22,504.
Families with young drivers generally pay the most expensive premiums, which starts at Florida Farm Bureau’s $3,238. The median premium is by Progressive American Insurance at $5,947. Infinity Auto Insurance offers the most expensive premium at $22,504.
The following graph compares car insurance prices across driver cohorts in Baker County, Florida.
The following table compares car insurance premiums for key driver cohorts in Baker County, Florida. In addition, it lists the difference between the 75th and 25th percentile in premium rates.
|Cohort||Cheapest Car Insurance Companies in Baker County, FL||Most Expensive Car Insurance Companies in Baker County, FL||Car Insurance Companies Offering Median Premium in Baker County, FL||25th Percentile of Car Insurance Premiums in Baker County, FL||75th Percentile of Car Insurance Premiums in Baker County, FL||Dollar Difference between 25th and 75th Percentiles||Percentage Difference between 25th and 75th Percentiles|
|Families with young drivers||Florida Farm Bureau General Insurance Company ($3,238)||Infinity Auto Insurance Company ($22,504)||Progressive American Insurance Company ($5,947)||Allstate Fire and Casualty Insurance Company ($4,536)||Allstate Property & Casualty Insurance Company ($9,661)||$5,125||112.99%|
|25-year-old single female drivers||United Services Automobile Association ($1,587)||Progressive American Insurance Company ($6,047)||Allstate Fire and Casualty Insurance Company ($2,754)||USAA General Indemnity Company ($2,161)||Allstate Property & Casualty Insurance Company ($3,533)||$1,372||63.49%|
|Senior married drivers||Florida Farm Bureau General Insurance Company ($670)||Direct General Insurance Company ($3,033)||Allstate Insurance Company ($1,250)||USAA General Indemnity Company ($1,044)||Ocean Harbor Casualty Insurance Company ($2,022)||$978||93.68%|