By: Ishan Mukhopadhyay Oct. 19, 2018
A recent Raltin analysis on car insurance quotes in Hillsborough County, Florida, shows that families with young drivers report the highest savings of $15,198 or (157.99%). This driver cohort comprises 50-year-old married couples, 18-year-old single female drivers, and 20-year-old single male drivers. Next, senior and married drivers aged 65 years or above report the second highest savings of $1,653 (127.64%). This survey uses information from the Florida Office of Insurance Regulation.
Car insurance premiums can be influenced by various factors including deductible amounts, coverage limits, and model types. This survey accounts for a personal injury protection limit of $10,000, an uninsured motorist limit and bodily injury limit ranging from $25,000 to $100,000, property damage limits of $50,000 and $100,000, comprehensive and collision deductibles of $250 and $500, and a medical payment limit of $5,000. The cars chosen for the survey are the Toyota Camry LE and Toyota Corolla LE.
The survey shows that senior and married drivers aged 65 years and above incur the cheapest rates. For this cohort, Florida Farm Bureau General Insurance Company offers the cheapest premium at $1,019 and State Farm Mutual Automobile Insurance provides the median rate is offered by State Farm Mutual Automobile Insurance, at $1,934. Next, 25-year-old single women pay the second cheapest premiums. For this cohort, United Services Automobile Association offers the cheapest rate at $1,861 and Geico Indemnity Company provides the median rate of $4,091.
Families with young drivers generally pay the most expensive premiums. For this cohort, Infinity Auto Insurance offers the most expensive price at $37,011 and Progressive American Insurance provides the median price of $8,059.
The following graph compares premium rates across driver cohorts in Hillsborough County, Florida.
The following table compares the car insurance premiums for key cohorts in Hillsborough County, Florida, and the difference between the 75th and 25th percentile in premium rates.
|Cohort||Cheapest car insurance companies in Hillsborough, FL||Most expensive car insurance companies in Hillsborough, FL||Car insurance companies offering median prices in Hillsborough, FL||25th percentile of car insurance premiums in Hillsborough, FL||75th percentile of car insurance premiums in Hillsborough, FL||Dollar difference between 25th and 75th percentiles||Dollar difference between 25th and 75th percentiles|
|Senior married drivers||Florida Farm Bureau General Insurance Company ($1,019)||Direct General Insurance Company ($5,366)||State Farm Mutual Automobile Insurance Company ($1,934)||Government Employees Insurance Company ($1,295)||Geico Indemnity Company ($2,948)||$1,653||127.64%|
|Families with young drivers||Florida Farm Bureau General Insurance Company ($4,791)||Infinity Auto Insurance Company ($37,011)||Progressive American Insurance Company ($8,059)||USAA General Indemnity Company ($5,891)||Allstate Insurance Company ($15,198)||$9,307||157.99%|
|25-year-old single female drivers||United Services Automobile Association ($1,861)||United Automobile Insurance Company ($8,501)||Geico Indemnity Company ($4,091)||Safeco Insurance Company Of Illinois ($2,910)||LM General Insurance Company ($5,773)||$2,863||98.38%|