By: Ishan Mukhopadhyay Nov. 05, 2018
According to a recent Raltin analysis on car insurance quotes in Brevard County, Florida, families with young drivers report the highest savings in premium rates between the 75th and 25th percentiles; the savings for this cohort amount to $5,708 (127.81%). Senior married drivers report the second highest savings of $1,034 (102.27%).
In the Raltin survey one of the users described their experience as an insurance holder: “My auto company was able to provide me with a great bundle price to combine auto and renters insurance”. Normally, getting a suitable insurance policy requires users to compare and analyze prices across multiple companies. Raltin compared insurance policies of major providers in Brevard County, by sourcing data from the Florida Office of Insurance Regulation.
A car insurance agreement has several components. The Raltin survey considers the following components as reference points: an uninsured motorist limit and bodily injury limit ranging between $25,000 and $100,000; property damage limit between $50,000 and $100,000; deductibles for comprehensive and collision of $250 and $500; personal injury protection limit of $10,000; and medical payment limit of $5,000. In terms of car models, this survey focuses on the Toyota Camry LE and Toyota Corolla LE.
Families with young drivers pay the most expensive premiums, the lowest of which is offered by Florida Farm Bureau General Insurance ($3,330). Further, for this cohort of drivers, Progressive American Insurance offers the median premium of $6,008 and Infinity Auto Insurance provides the most expensive rate at $25,543.
The next cohort is 25-year-old single female drivers, who incur the second most expensive premiums in the state. For this cohort, United Services Automobile Association offers the lowest premium ($1,418), Allstate Insurance reports the median premium ($2,550), and Progressive records the most expensive premium ($6,134).
Senior married drivers pay the cheapest premiums in the state. For this cohort, Florida Farm Bureau General Insurance offers the lowest premium of $737, Allstate Insurance quotes a median rate of $1,434, and Direct General Insurance reports the most expensive of $3,259.
The following graph illustrates a comparison of premium rates across key cohorts in Brevard County, FL.
The following table compares the car insurance premiums for key cohorts in Brevard County, FL. In addition, it lists the names of companies and the differences in premium rates between the 75th and 25th percentiles.
|Cohort||Cheapest car insurance companies in Brevard county, FL||Most expensive car insurance companies in Brevard county, FL||Median car insurance companies in Brevard county, FL||25th percentile of car insurance premiums in Brevard County, FL||75th percentile of car insurance premiums in Brevard 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 ($3,330)||Infinity Auto Insurance Company ($25,543)||Progressive American Insurance Company ($6,008)||Safeco Insurance Company Of Illinois ($4,466)||Allstate Property & Casualty Insurance Company ($10,174)||$5,708||127.81%|
|Senior Married Drivers||Florida Farm Bureau General Insurance Company ($737)||Direct General Insurance Company ($3,259)||Allstate Insurance Company ($1,434)||USAA Casualty Insurance Company ($1,011)||GEICO Indemnity Company ($2,045)||$1,034||102.27%|
|25-year-old single female drivers||United Services Automobile Association ($1,418)||Progressive American Insurance Company ($6,134)||Allstate Insurance Company ($2,550)||USAA General Indemnity Company ($2,082)||LM General Insurance Company ($3,822)||$1,740||83.57%|